We want to minimise outflow, conserve forex for national devpt — NAICOM

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By Cynthia Alo

The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Sunday Thomas, has disclosed the desire of the insurance sector to minimise capital outflow in the insurance sector and conserve foreign exchange (forex) for national development.

He made this disclosure at the official launch of Heirs Insurance & Heirs Life in Lagos, where he noted that the Commission is continuously rolling out various insurance initiatives aimed at deepening insurance penetration in the country.

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According to him, launching the company will not only deepen insurance penetration in the country but will contribute to the Commission’s effort in building a new insurance sector that is going to de-risk other sectors of the economy.

He said, “With the level of the capitalisation of Heirs Insurance and Heirs Life, I do not doubt…



Source: Vanguard Newspaper