NIA's New Chairman Nwachukwu Unveils Reform Agenda

Ebelechukwu Nwachukwu, the incoming Managing Director of Rex Insurance Limited, unveiled her comprehensive strategic blueprint aimed at driving compliance within the Nigerian insurance industry and addressing the public trust deficit during a press conference in Lagos on Tuesday. Nwachukwu will formally assume office as the 27th Chairman of the Nigerian Insurance Association on July 3, 2026, coinciding with the conclusion of a critical recapitalization exercise mandated by the Nigerian Insurance Industry Reform Act of 2025.

This act introduces a modern structure built on risk-based capital and enhances minimum capital requirements. Nwachukwu emphasized the need for a three-pronged agenda that includes cross-sector alliances to expand market strategies, improve consumer protection, and deepen market penetration.

She noted that simplifying insurance language and claims processes is essential to rebuilding trust among the public. Nwachukwu also highlighted the importance of collaboration between banks and the insurance industry to address retail segments and improve understanding of insurance offerings.