- By Bisi Bamishe
The National Health Insurance Authority (NHIA), the Pension Transitional Arrangement Directorate (PTAD), as well as Universal Insurance Plc, have confirmed their sponsorship of the 2026 Annual General Meeting (AGM) of the Nigerian Association of Insurance and Pension Editors (NAIPE).
The 2026 NAIPE AGM is scheduled to hold on Tuesday, July 7, 2026, at the Nigerian Insurers House, Victoria Island, Lagos.
NAIPE is the umbrella body for journalists covering Nigeria’s insurance and pension sectors. The Association holds its AGM annually in July to review the performance of its leadership and assess developments within the insurance and pension industries.
Universal Insurance Plc is one of Nigeria’s leading non-life insurance companies, with assets exceeding N8 billion. The company offers eight major classes of insurance, including motor, property, and commercial insurance, serving corporate organisations, businesses, and individual customers through a broad range of specialised insurance products.
According to the company, its vision is “to be a dominant, specialised non-life insurer in Nigeria, creating and delivering value to stakeholders,” while its mission is “to offer specialised non-life insurance protection to clients inspired by innovation, efficiency and prompt claims settlement.”
The company has built a reputation for prompt claims settlement, integrity, professionalism, reliability, teamwork, and customer satisfaction.
The National Health Insurance Authority (NHIA) was established under the National Health Insurance Act, signed into law on May 19, 2022, replacing the National Health Insurance Scheme Act of 1999.
According to available data, about 20 million Nigerians are currently covered under the NHIA scheme. The Authority provides financial protection against high healthcare costs, improves access to quality healthcare services, and offers a comprehensive benefits package covering a wide range of medical needs. It also seeks to promote preventive healthcare, ensure equitable healthcare financing across income groups, and improve the overall health and well-being of Nigerians.
Similarly, the Pension Transitional Arrangement Directorate (PTAD) was established in 2013, with its mandate derived from the Pension Reform Act of 2014. The Directorate is responsible for administering pensions under the Defined Benefit Scheme (DBS) for pensioners who retired on or before June 30, 2007, and did not transition to the Contributory Pension Scheme.
Since its establishment, PTAD has recorded significant progress in transforming Nigeria’s public sector pension administration.
When the Directorate was created, it inherited numerous challenges from the legacy pension offices responsible for managing pensions for the Police, Customs, Immigration, Prisons, Civil Service, and the Boards of Trustees of Treasury-funded parastatals, universities, research institutions, and government agencies. These pension offices were characterised by fragmented administration, inefficiency, inadequate funding, and weak record-keeping.
By 2004, pension liabilities had exceeded N2 trillion, while the absence of a reliable pension database, the proliferation of ghost pensioners, and widespread allegations of fraud further undermined the system.
Over the years, PTAD has addressed many of these challenges by strengthening pension administration, improving record management, enhancing transparency, and restoring confidence in the management of the Defined Benefit Scheme.
