Twenty one years after hosting the last African Insurance Organisation AIO, the Nigerian insurance industry is setting the hosting stand with the hefty sponsorship of local and global underwriters for the 47th edition of the AIO confab taking place in Lagos from September 4 – 8, 2021, at Eko Hotels & Suites Victoria Island, Lagos. The theme of the confab is “Rebuilding Africa’s Economy: An Insurance Perspective.”
The immediate past chairman, Nigerian Insurers Association and group managing director at NEM Insurance Plc, Mr. Tope Smart, will assume office as the next president of the pan African organisation and for this honour, the LOC says “he deserves support and good wishes.” The conference dates has several times succumbed to the persisting Covid 19 pandemic by postponements, however the die is cast now and the local insurance industry has the honour of hosting this 47th edition of the conference.
In a virtual media briefing the chairman, Local Organising Committee, Mrs. Ebelechukwu Nwachukwu, said, “We need to emphasise that in planning this conference at this time we have taken full cognisance of all the protocols and restrictions on public gathering, hence the decision to make it a hybrid event.”
With the level of preparations set rolling, Nwachukwu was confident to say, “I want to assure you that we are prepared to host the best and most memorable conference.” According to her 600 physical attendees are expected from all over Africa and beyond the continent and plans have been made to create a window for those who will attend as the confab goes underway.”
Speaking on the build up so far, Nwachukwu the managing director at NSIA Insurance, said the Commissioner for Insurance, Mr. Olorundare Sunday Thomas, “has been working assiduously and liaising with the various ministries and agencies to ensure that we get the full support from the government.”
Also on the thumb up is the Minister of Finance, Budget and National Planning who the LOC chairman said “has been very supportive of our efforts, and we owe a lot of appreciation for the letter of comfort which was the first requirement from AIO as proof that we have the support of the government to host the conference.”
With the effects of the pandemic wired without exception across the globe, Nwachukwu said this informed the LOC decision to use the event to deploy how insurance can contribute to ongoing efforts at rebuilding economies seriously impacted by the pandemic.
Besides the theme, there are four subtopics to address other contemporary issues and they are listed: The new normal: How leaders can reset for growth beyond Covid 19; Regulation, innovation and the future of insurance; Harnessing the potential for growth and development in the Nigerian insurance market, and, AfCTA and the African Insurer: Prospects and opportunities.
The LOC has already assembled resource persons and these include Mr Jackie Cilliers of Institute of Security Studies, South Africa; Mr Belhassan Tanat, Munich Re; Mr. Yinka Sanni of Standard Bank Group and, Mr. Tawiah Ben-Ahmed, Metropolitan Life Insurance, Ghana.
In the past 31 years, Nigeria has has hosted the AIO event three times, counting from the base year of 1990 in Abuja, followed ten years after in 2000, also in Abuja and coming to Lagos after several pandemic induced postponements.
Nwachukwu did not leave out the commitment of member companies of the arms of the insurance market, the lavish support of the regulatory agencies to make the Nigeria market gravitate towards a successful event. The AIO she commented, has been streaming support, the global market she reiterated, has been very impressive and the local insurance market is set for a record successful event.