The National Insurance Commission (NAICOM) on Tuesday affirmed its commitment to align the insurance sector with the “Renewed Hope Agenda” of President Bola Tinubu.

Olusegun Omosehin, Commissioner for Insurance, gave the assurance at the investiture of Yetunde Ilori as the 52nd president of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos.

Mr Omosehin, the chief executive officer of NAICOM, said the regulator would align the industry with the president’s goal of growing the Nigerian economy to $1 trillion by 2030.

He emphasised the importance of collective commitment to promoting a robust, resilient, strong, and stable insurance industry that contributes to Nigeria’s economic stability and growth.

Mr Omosehin said the emerging realities and developments at the global and national levels call for a collaborative effort to reposition the insurance profession.

He said it also demanded the industry’s rebranding so that all could better understand its narratives.

To this end, Mr Omosehin congratulated Ms Ilori on her emergence as the 52nd president of the CIIN, adding that leadership in the insurance sector remained more critical than it was.

The commissioner said this was as the sector navigated a world of significant economic challenges and great opportunities.

“Ilori’s journey to this prestigious position is a testament to her unwavering dedication, exceptional leadership, and profound commitment to the insurance sector,” he said.

The NAICOM boss expressed confidence that under Ms Ilori’s leadership, the CIIN would continue to promote professionalism, uphold ethical standards, and foster educational development within the insurance industry.

Mr Omosehin noted that NAICOM views the institute as one of its veritable partners in the development of the much-needed professionals needed to achieve this goal.

He reiterated the continuous support of the commission for the institute in the discharge of its responsibilities.

The commissioner said: “NAICOM looks forward to exploring additional mechanisms of enhancing the existing relationship with the institute and facilitating improved perception, transparency, and public confidence in the insurance industry.”

(NAN)