‘Insurance Firms In West Africa Should Operate Under One Body’ | Independent Newspapers Limited
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‘Insurance Firms In West Africa Should Operate Under One Body’

west africa
Posted: Apr 27, 2016 at 3:25 am   /   by   /   comments (0)



Mr. Ivan Avereyireh, the president, West African Insurance Companies Association (WAICA), has reiterated the need for all insurance companies in the region to operate under one body for efficiency.

Avereyireh made the call at the ongoing WAICA conference in Lagos on Tuesday.

He said creating just one strong umbrella would enable initiatives lie fallow to fruition in the shortest possible time.

He added that “part of such initiatives included a road map to get insurance on to the curriculum of junior and secondary schools in WAICA member countries.

“I have earlier alluded to the fact that our regulators have come together into one body, that is West Africa Insurance Supervisors Association (WAISA) and I mean 100 percent of them.

“I do not see why 100 percent of the regulated underwriting and brokerage companies cannot do the same.

“If we do not build support from within, whatever development we may achieve will be short lived.”

He urged Sierra Leone and Liberia who were yet to create full-time secretariats in the counties to do so.

Theme of the conference is ‘The Practice of Insurance in a Challenged Economy.’

Over 200 insurance companies from member countries of Nigeria, Ghana, Liberia, Gambia and Sierra-Leone are participating in the conference.