L-R: Director General Nigerian Insurers Association, Bola Odukale; Managing Director/CEO AIICO Insurance Plc, Babatunde Fajemirokun; Incoming Chairman Nigerian Insurers Association, Ebelechukwu Nwachukwu and Managing Director Coronation Insurance Plc, Olamide Olajolo at the pre-investiture press conference in Lagos on Tuesday... Photo: Jide Ajia.
The incoming Chairman of the Nigerian Insurers Association, Ebelechukwu Nwachukwu, has unveiled a comprehensive strategic blueprint aimed at driving industry compliance, breaking public trust deficits, and deepening market penetration under the new regulatory framework.
Speaking at a pre-investiture press conference in Lagos on Tuesday, Nwachukwu, who is the managing director of Rex Insurance Limited, announced that her formal inauguration as the 27th chairman of the association would take place on Friday, 3 July 2026.
Her assumption of office coincides with the final, critical weeks of the recapitalisation exercise mandated by the Nigeria Insurance Industry Reform Act 2025, which introduced a modern structure built on Risk-Based Capital and enhanced Minimum Capital Requirements.
She said, “I do not come to the office at an ordinary time. With the advent of the new Insurance Act, we are entering a transformative era, one that demands higher standards of governance, stronger capitalisation, improved consumer protection, and deeper market penetration.”
