Mr Sunday Thomas, the Chief Executive Officer (CEO), National Insurance Commission (NAICOM), has said that the best of the insurance sector would soon be unveiled, following the recent support it was receiving from the Federal Government.<\/p>\n\n\n\n
Thomas stated on the side lines of the 47th Africa Insurance Organisations (AIO) Conference and Annual General Assembly held in Lagos, under the theme: \u201dRebuilding Africa\u2019s Economy: An Insurance Perspective\u201d.<\/p>\n\n\n\n
He noted that the support of President Muhammadu Buhari and the Minister of Finance, Budget and Planning during the conference, was a pointer to energising NAICOM to regulate the market in a way that would make a difference.<\/p>\n\n\n\n
According to him, the sector would soon experience a turnaround, as the regulator would be unfolding policies to drive the objectives of the industry from time to time.<\/p>\n\n\n\n
\u201d Government is the driver of the economy by empowering the private sector. Policy formulation that factors in insurance will now have more attention than ever before.<\/p>\n\n\n\n
\u201cThe president has recognised the insurance industry as a mobiliser of of funds for economy growth and this is a game changer for the sector , \u201d he said.<\/p>\n\n\n\n
The commissioner stated that the insurance sector had been moving at a slow pace in terms of numbers for some time now, but with the recent happenings, it was now time for a jump.<\/p>\n\n\n\n
He explained that insurance enables businesses and allows them to grow, it is a labour mobiliser which grows the economy by building confidence in investors.<\/p>\n\n\n\n