Monday, October 20, 2025
29.3 C
Lagos

WAICA Confab to Explore Climate Change Market Risk, Opportunities

The West African Insurance Companies Association (WAICA) Education Conference scheduled for October 12-15, 2025 in Lagos will explore climate change risks and opportunities for insurers in the West African region under the theme: The West African Insurer in the Face of Climate Change.

Mrs. Ebelechukwu Nwachukwu, the Chairperson of the Local Organising Committee (LOC), said in Lagos that over 250 delegates from across Africa are expected at the confab. She said the conference will explore the risks that insurers in the sub-region and Africa are exposed to and the readiness of the market to respond to such risks.

Nwachukwu, who is also the Managing Director/CEO of Rex Insurance Limited, described the confab as a landmark event to reinforce regional integration and co-operation in insurance business.

“This year’s conference, organised by the Nigerian Insurers Association (NIA) with the theme “The West African Insurer in the Face of Climate Change,” will bring together insurance practitioners, regulators, policymakers, and thought leaders representing countries across the West African sub-region. Member countries of WAICA, namely Nigeria, Ghana, Sierra Leone, Liberia, and The Gambia, will be represented, making the conference a truly regional platform for knowledge exchange, networking, and collaboration. The conference will provide a strategic platform for deliberations on the impact of climate change on the insurance industry, as well as actionable strategies to safeguard the future of insurance education and practice.”

She added that it is important for African insurers to engage in robust discussions on climate change, as the continent faces unique vulnerabilities such as extreme weather events, flooding, drought, and agricultural disruptions that directly impact businesses, communities, and livelihoods.

“For insurers, these challenges translate into rising claims, increased risk exposures, and the urgent need for innovative products and risk management strategies. By coming together at the WAICA conference, African insurers not only strengthen their collective preparedness but also position themselves to engage competitively with their global counterparts in shaping sustainable insurance practices and climate resilience solutions.”

The Honourable Minister of State, Ministry of Finance, Dr. Doris Uzoka-Anite will deliver the keynote address at the Opening Ceremony of the conference on Monday, October 13, 2025 while Mr. Olusegun Omosehin, Commissioner for Insurance, National Insurance Commission (NAICOM) is the Chief Host.

The LOC has equally assembled an array of eminent local and international insurance industry leaders, dignitaries, and technical experts who will speak on and critically dissect the theme and various sub-themes of the conference.

These include:

  • Abiba Zakaria, Ag. Commissioner of Insurance, Ghana
  • Wole Oshin, Group Managing Director, Custodian Investment Plc
  • Bockarie Kaloko, Deputy Minister of Finance, Republic of Sierra Leone
  • Tola Adegbayi, MD/CEO, Mutual Specialist

Following the paper presentations, three panel sessions will be held and chaired respectively by:

  • O.S. Thomas, Former Commissioner for Insurance, NAICOM
  • Alhaji Mohammed Kari, Former Commissioner for Insurance (NAICOM)/Wazirin, Bauchi
  • Olamipo Adeola, Head, Corporate Communication & Branding, Scib Nigeria & Co. Ltd.

Other programme highlights of the conference include:

  • Monday Evening Soiree – On 13 October 2025, Sponsored by Africa Reinsurance Corporation, at Eko Hotel & Suites.
  • Closing Dinner Ceremony – Tuesday, 14 October 2025 at Eko Hotel & Suites, sponsored by WAICA Reinsurance Corporation, at Eko Hotel & Suites.
  • Visit to Tourist Sites/ Departure – Wednesday, 15 October 2025.

The LOC has also put in place adequate arrangements for the transportation and security of foreign delegates and other participants at the conference to ensure a seamless and safe experience throughout their stay in Lagos.

The 2025 WAICA Education Conference promises to be a landmark event, reinforcing regional cooperation and highlighting the critical role of insurers in responding to climate challenges while offering delegates a unique opportunity to experience the dynamism of Lagos.

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