The Commissioner for Insurance, Chief Emmanuel Chukwulozie, has assured operators in the insurance industry that the National Insurance
Commission (NAICOM) would do all that is within its powers to safeguard the integrity of the industry through thorough supervision and promotion.

Chief Chukwulozie who spoke at an event in Lagos recently promised an unwavering support to tackle multi-national companies who were always placing their risk abroad.

His words: We are together in the business of insurance and I want to assure you for umpeteenth time that the Commission will not rest on its oars and watch the annihilation of the industry.

As a supervisor, we will continue to do our job thoroughly and frown seriously at those multi-national companies who will take delight in taking their insurance businesses abroad even when we have adequate capacity and technical expertise to handle such risks within the country. My support to you is total and unflinching.”

Also the Finance Minister, Mrs Nenadi Usman who was represented by Mr. F.R. Babalola said the ministry would continue to nurture and protect the insurance industry until it is able to compete with its counterparts in the developed countries.

The minister said she has a strong passion for insurance and was willing to assist operators achieve greater penetration and density through adequate legislative support and the creation of the right environment for the industry to thrive.

“The insurance industry is dear to my heart and I believe that you will have all my support as you strive ti improve your services beyond the current level, especially in terms of insurance penetration and density,” she said.

She commended the new leadership of all institutions, associations and the commission towards crossing the recapitalisation hurdle.

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The Tide Online is published by Rivers State Newspaper Corporation