As Nigeria seeks to drive financial inclusion with the target of achieving 80 per cent penetration by 2020, stakeholders in the financial services sector will converge soon to discuss implementation framework through micro insurance and pensions.

The stakeholders, who will converge at the 4th edition of the National Association of Insurance and Pension Correspondents (NAIPCO) conference billed to hold on 29th of August, 2019 at the Four Points By Sheraton Hotel, VI, Lagos, will explore various ways at which the two sectors have been deepening financial inclusion through micro agendas.

With the theme of the conference being “Financial Inclusion: The Micro Agenda for Insurance and Pension Sectors,” experts will discuss the Micro Insurance Guideline and Micro Pension Plans and how it can be an effective tool to deepen financial inclusion in the country.

Mr. Sunday Thomas, the Deputy Commissioner (Technical), National Insurance Commission (NAICOM) says operators in the Nigerian insurance industry find it difficult to see the benefits of recapitalisation at the take-off point.

He said the essence of the current recapitalisation process is to have strong operators that are liquid in meeting their obligations to their stakeholders, have solid assets, visible in retaining businesses in our local environment and contribute in turning around the image of the market.

“The bottom-line is to turn out solid operators that are able to support government initiatives, create employment through its expansion strategies and add value to the national economy.”

The NAICOM chief also canvassed the support of the media to actualise the benefits of the recapitalisation policy, adding that the media has naturally added value to the various initiatives of the insurance industry in Nigeria.

“We need the co-operation of the media in this particular task for a better and stronger insurance sector in our country.”

Linkage Assurance Plc has recorded a 16 percent growth in Profit After Tax (PAT) for the half year unaudited financial statement ended 30^th June 2019. The figure rose from N439.77 million in the half year period of 2018 to N572.76 million in the same period in 2019.

According to the financial statement made available to the Nigerian Stock Exchange (NSE), Linkage during the period under review posted a Gross Premium Written (GPW) income of N4.130 billion as against N3.650 billion the previous year.

With efficient risk management, the underwriter during the period returned to profitability in underwriting performance, posting a 176percent increase, as the figure moved from negative N367.11 million in 2018 to positive N296.06 million.

Linkage Assurance total assets also grew by 8 percent, moving from N23.146 billion to N24.869 billion at the end of June 2019.