NAICOM Unveils Initiative to Raise Insurance Penetration to 10% of GDP by 2031

• Insurers target 25 million Nigerians, 6,000 professionals, 250,000 MSMEs in 5-year ISSP blueprint

• Omosehin demands stronger underwriting, governance, claims settlement

•Leadway Assurance: programme will deepen penetration, confidence, trust

James Emejo in Abuja

National Insurance Commission (NAICOM), yesterday, unveiled a five-year industry-wide programme to significantly deepen insurance coverage in the country, targeting an increase in insurance penetration from the current 0.5 per cent of Gross Domestic Product (GDP) to 10 per cent by 2031.