WAICA Reinsurance Corporation (WAICA Re) new impetus to corporate social responsibility (CSR) has earned it the 2021 National Association of Insurance and Pension Correspondents (NAIPCO) excellence the regional reinsurer has established in Nigeria and across West African region.
The award was presented to the company at the recent 2021 NAIPCO national conference in Lagos, and it was by giant strides ahead of other entries particularly on CSR. The reinsurer deployed the donation to raise the bar of service of the industry training body, Chartered Insurance Institute of Nigeria. This ace CSR that set it apart from the eligible group is the N10 million plus office equipment; the items include; 39 air conditioners; 12 desktops and 5 laptops.
Another area of CSR is the company’s response to climatic change which has unleased natural disasters across the world such as floods, forest fires drought and deforestation with $100,000 annual WAICA Re Champions Award. The first prize of $5000 of the maiden 2021 WAICA Re Champions award was won by Ejike Nwankwo with his entry on how to manage plastic waste to prevent flooding. Uduakobong Inyang won $3000 as first runners-up while $2000 went to Chinwe Anthonia Umeobi of African Alliance Insurance Plc as the 2nd runners-up. The prizes were presented at the September AIO 2021 confab in Lagos.
The chairman, NAIPCO, Mr. Chuks Udo Okonta, said, the two CSR projects were critical in the choice of WAICA Re, and urged corporate organisations to emulate and begin to look beyond their core businesses by giving back to the society through CSR initiatives, improve insurance prominence and service purchase and these efforts together will lead to society growth and development along side government development strides.
While relieving the Award, the Group Managing Director/Chief Executive Officer of WAICA Re, Ezekiel Ekundayo, appreciated the association for counting the organisation worthy of the award, promising that it is a spike to increase its commitment towards improving lives and reinsuring businesses across the West African region and the rest of Africa.
Ekundayo, who was represented by Mr. Ayokunle Gbenga of WAICA Re stated that the corporation pays equal attention to all the countries it operates in including Nigeria, which was the reason for the CSR projects executed in the country. He said similar initiative took place in other countries in the region.