The Nigerian insurance industry is set to launch the unified strategic master plan  during the industry’s 2023 National Conference slated for October this year.

The Commissioner for Insurance and Chief Executive Officer, National Insurance Commission (NAICOM), Mr. Olorundare Sunday Thomas disclosed this at a three-day seminar organised by the Commission for journalists in Uyo, Akwa Ibom State.

Thomas who used the opportunity to brief journalists on the plans and activities of the Commission, said “During that National conference the strategic plan that is signed to by every arm of the industry for the very first time would be launched.

“It is also important to let you know that our initiative in capacity building is also ongoing and it gladdens my heart to say that the Commission is not just leaving to the industry, itself has become a partaker of the great initiative of capacity building.

“Two of our new members of staff recruited in 2020 are certified as actuarial analysts. They did this in a recorded time. These are some of the improvements we made since I came into office.”

According to him, as a sector, we have so many plans but we are yet to accomplish all the plans.  We have done some of them yet much more are yet to be done.

He said when he came into in 2020, the gross premium income (GPI) was about N450 billion but as at close of business in 2022, “we have about N723 billion (over 20% increase).”