Dear Esteemed Chief Executives,
Happy New Year!
On behalf of the Governing Council and Management of the Nigerian Insurers Association (NIA), I extend heartfelt greetings to you, your leadership teams, and your dedicated staff. I deeply appreciate your commitment to client’s satisfaction, unwavering support, resilience, and collaborative spirit, which together defined the remarkable progress of our Association and the Nigerian insurance industry in 2025.
The past year was transformative for the NIA, marked by initiatives that deepened the market, boosted public confidence, and strengthened stakeholder engagement. Key achievements included the launch of the NIA Innovation Lab, sustained advocacy on compulsory insurances, constant engagements with our regulator leading to improvements in issued circulars, and broader engagements with agencies like the National Assembly, EFCC, and sister associations to foster a more conducive business environment.
We also rejuvenated our media strategy, amplified the industry’s voice, and continued capacity-building programmes to equip professionals for an evolving marketplace. With support from Africa Re Foundation, we commenced the development of a Mortality Rate Table for Nigeria, a project that will add significant value to the life insurance market.
In 2025, the Nigeria Insurance Industry Reform Act (NIIRA) was signed into law, creating a stronger framework for insurance penetration, governance, and sustainable growth. As 2026 begins, the priority is its effective implementation through collaboration among companies, regulators, and stakeholders. The NIA has pledged continued support via advocacy, guidance, capacity-building, and plans to establish a recapitalization help desk to assist members during the transition. With cooperation, transparency, and shared responsibility, I am confident we will consolidate the gains of 2025 and usher in a new era of growth and public trust.
As we reflect on the past year, we also mourn the passing of the erstwhile MD/CEO of STACO Insurance Plc, who departed on 27th Dec 2025. On behalf of the NIA, I convey our sincere condolences to the board, management, and staff of the organisation. The late Dr. Wale Banmore was a distinguished industry leader whose contributions to insurance practice will be fondly remembered. May his soul rest in peace.
Thank you once again for your dedication. I look forward to deeper collaboration in 2026 and wish you and your organizations a prosperous, peaceful, and successful New Year.
Signed,
Kunle Ahmed
