Yemisi Izuora
The Nigerian Insurers Association is set to review activities of the sector which has witnessed some significant improvement over time.
The insurance industry assets hit N793.6 billion at the end of first quarter this year showing great signs of further growth.
The National Insurance Commission (NAICOM) has linked the success to regulatory framework it has put in place in the last couple of year.
Also the industry’s assets last year stood at N711.4 billion while the total liability was N422.7 billion while liabilities at the end of the first quarter (Q1, 2015) rose to N444.4 billion.
The Director-General of the Association, Mr. Olorundare Sunday Thomas, explained that the meeting will afford members the opportunity to present of Chairman’s Statement and Report of the Governing Council, consider and Adopt the Audited Accounts for year ended 31st December 2014 and the Hon. Treasurer’s Report thereon.
Key business of the day which will also host the associations Annual General Meeting (AGM) will include appointment of Auditors for the ensuing year and election of officers to fill vacant positions on the Governing Council.
The NIA D-G also stated that the Association will release vital industry statistics for the year ended December 2014 at the event.