Mr. Eddie Efekoha, Managing Director/CEO, Consolidated Hallmark Insurance Plc, was yesterday unanimously elected 22nd chairman of the Nigerian Insurers Association [NIA]at the 45th Annual General Meeting [AGM] of the Association in Lagos.
NIA is the official umbrella body of insurance companies operating in Nigeria.
In his acceptance speech, Efekoha said his administration will focus on four key areas namely:
· Stakeholders’ engagement with policy makers at the Judiciary, the Legislature and other relevant Agencies of the government, as well as regulatory institutions and industry players.
· Enforcing market discipline amongst key industry players which will involve engagement with colleagues and partners in the industry to encourage market development and continuity in the industry.
· Review of the NIA constitution to make it more dynamic in response to the changing business environment.
· Other current projects embarked upon by the Association most important of which is the NIA Building Project. We will deal with these matters to the best of our abilities but where we make mistakes may you find a space in your heart to forgive us.
The new chairman who unveiled the theme of his administration as “Sustainable Market Development Through Stakeholders Engagement” called for unity of purpose to tackle emerging challenges in the operating environment.
“We are fully aware that the there is a need for us to come together to save our industry now more than ever. The economic space is shrinking and businesses are facing greater threats; and the insurance sector is not insulated from developments in the global economic space. “
He said this is the right for insurers to respond quickly to the changing dynamics of the market space so that “we do not go extinct in the face of the global pressures on our businesses. Indeed there is no better time than now to strengthen the Association and reposition it for the task ahead.”
Efekoha promised that the NIA will continue to remain true to its legacy as an institution that exists to champion the cause of the insurance industry while operators will ensure that the founders’ sense of purpose will be upheld by us at all times.
Investiture Of Mr. Efekoha As The New NIA Chairman
