The Managing Director and Chief Executive Officer, Old Mutual Nigeria Life Assurance Company Limited, Mr Olusegun Omosehin, has assumed office as the 25th chairman of the Nigerian Insurers Association.

He was elected along with other executives at the association’s 51st annual general meeting in Lagos.

In his acceptance speech, Omosehin said, “Please remember that the change we seek must start with us as an industry. We must strengthen our capacity to self-regulate and be bold and courageous in enforcing our market conducts.

“This will enable us as an industry take our rightful place among the pillars of economic growth and development in Nigeria. We must understand the importance of protecting our collective dreams and aspirations and positioning ourselves appropriately to earn the trust of our nation.”

Omosehin promised to work with the insurance industry regulator in unpacking solutions that works for a developing country like Nigeria and assured that member companies would comply with extant regulations that will promote growth in the sector.

He also pledged to collaborate with other arms of the insurance industry such as the Nigeria Council of Registered Insurance Brokers; the Institute of Loss Adjusters of Nigeria; the Chartered Insurance Institute of Nigeria; Association of Registered Insurance Agents of Nigeria, and others, to achieve our goal of a prosperous insurance industry.

The newly elected chairman paid tributes to the past chairmen and founding fathers of the association for laying a strong foundation for the Association and promised to build on the achievements of the past leaders.

Other officers of the council elected at the AGM are the Managing Director/Chief Executive Officer, Capital Express Assurance Company Limited, Mrs Bola Odukale as deputy chairman; the Managing Director/ Chief Executive Officer, Axa Mansard Insurance Plc, Mr Kunle Ahmed, as honorary treasurer; and the Managing Director/ Chief Executive Officer, Nigerian Agricultural Insurance Corporation, Mrs Folashade Joseph, as the honorary assistant treasurer.

The Managing Director/ Chief Executive Officer, KBL Insurance Limited, Mrs. Ukachi Orji, was re-elected into the council, the Managing Director/ Chief Executive Officer, AllCO Insurance Plc, Mr Babatunde Fajemirokun was elected to the Council.