NAICOM's Omosehin Lauded for Insurance Sector Reforms

The Good Governance Assembly (GGA) commended Olusegun Ayo Omosehin, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), for his exemplary leadership in Nigeria’s insurance industry. In a statement from Charles Onoja, Chairman of GGA’s Board of Leaders, the organization expressed satisfaction with the progress made under Omosehin's stewardship, aligning with the Renewed Hope Agenda of President Bola Tinubu's administration.

The GGA highlighted the successful completion of the insurance industry's recapitalisation exercise, which raised N1.079 trillion, with 48 insurance companies and two reinsurance companies meeting new capital requirements. This achievement reflects NAICOM's commitment to enhancing the capacity of insurance firms to fulfill their obligations.

Onoja emphasized the importance of a robust insurance sector for attracting investment and supporting economic growth, recognizing Omosehin's focus amid challenges during the recapitalisation process. The GGA reiterated that reforms in the insurance sector are crucial for the federal government's broader economic objectives.