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.”