NAICOM tasks insurance brokers on public trust, economic growth

By Henry Uche

The National Insurance Commission (NAICOM) has urged insurance brokers to rebuild public confidence in the industry, expand insurance coverage and mobilise long-term investments to support infrastructure development and Nigeria’s economic growth.

The Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Olusegun Omosehin, made the call at the 2026 National Insurance Brokers Conference and Exhibition in Abuja, themed “Insurance: Infrastructure Financing & National Development Agenda.”

Omosehin described insurance brokers as important players in risk management, consumer protection and investment mobilisation, urging them to adopt higher professional standards and help make insurance more accessible and reliable for Nigerians.

He said the Nigerian Insurance Industry Reform Act (NIIRA) 2025 provides a framework for strengthening the industry’s financial capacity, improving corporate governance and accountability, and rebuilding public confidence in insurance institutions.

The NAICOM chief urged brokers to embrace innovation and digital technologies while complying fully with regulatory requirements to improve service delivery and strengthen the industry’s credibility.

He also called on insurance brokers to build strategic partnerships with key sectors of the economy to unlock investment opportunities and increase the industry’s contribution to national development.

Omosehin said the commission remained committed to building a stronger, more transparent and customer-focused insurance sector, adding that stakeholders must turn discussions at industry gatherings into practical results.

He challenged participants to translate the conference’s resolutions into measurable actions that would expand insurance penetration, support infrastructure financing and contribute to economic transformation.

“Let us work together to build an insurance industry that commands public trust, delivers lasting value to policyholders, and serves as a catalyst for sustainable national development,” he said.