Joseph Inokotong, Abuja
The Federal Government ihas concluded plans to convene a meeting with shareholders’ associations in the Insurance industry to furnish them with necessary information on the ongoing recapitalisation programme in the sector.
The crucial dialogue, which would be superintended over by the Insurance industry regulator- the National Insurance Commission (NAICOM) will address issues of importance and concern to all stakeholders.
A source familiar with the development who does not want his name in print said the meeting intends to reassure the shareholders’ associations that the ongoing insurance recapitalisation programme is for the interest of the industry and the country’s economy at large.
He said it would also allay fears and speculation in some quarters that the programme was tailored to dislodge some insurance companies that are not performing optimally.
Contrary to this erroneous assumptions, the source said all insurance companies are given equal opportunity to recapitalise in accordance with laid down procedures by the regulator and that they are provided with necessary information to scale through the hurdle.
A statement released at the weekend in Abuja by Rasaaq Salami, Head, Commissioner for Insurance’ Directorate, NAICOM said the Acting Commissioner for Insurance, Olorundare Sunday Thomas, will be on hand to welcome delegates of the different shareholders associations to the session. He pointed out that the gathering was in furtherance to the ongoing recapitalisation exercise in the insurance sector and the need to provide adequate information to all stakeholders.
According to Salami, “NAICOM is set to host an interactive session with shareholders associations with interest in insurance companies.