From left: Mr. Eddie Efekoha(Chairman, CHI Life), Mr Olusegun Ayo Omosehin (Commissioner for Insurance), Mrs. Ose Oluyanwo (Managing Director, CHI Life) and Dr. Usman Jankara (Dep. Commissioner for Insurance Technical)
The National Insurance Commission (NAICOM) has taken another step to strengthen the insurance industry in Nigeria issuing a license to CHI Life Assurance Limited in an event which took place at the Commission’s Board Room in Abuja.
Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, while welcoming the CHI Life Assurance Ltd executives, urged them to make a positive impact in the industry assuring them of NAICOM’s commitment to creating an enabling environment for operators to thrive.
Mr. Omosehin equally emphasized the importance of compliance with regulatory requirements and advised the new management to always seek clarification from NAICOM.
He charged the Board of Directors to fulfill their roles, as they will be held accountable by the Commission.
Deputy Commissioner Technical, Dr. Usman Jankara also congratulated the CHI Life Assurance executives highlighting key areas like compliance, capital requirements, effective risk management mechanisms, anti -money laundering guidelines among others which must be their areas of focus.
In her response, the Managing Director of CHI Life Assurance, expressed gratitude for the license and pledged to collaborate with NAICOM, ensuring full compliance with regulatory laws and guidelines.
This development is expected to enhance the insurance industry in Nigeria, as well as NAICOM’s efforts at promoting a stable and competitive market.