The President of Chartered Insurance Institute of Nigeria (CIIN), Mr Eddie Efekoha, has urged insurance sector operators to maintain high level of professionalism and ethical conduct in the new business year.
This, he said would ensure they survive in the face of recapitalisation exercise this year.
Efekoha, who stated this in his 2020 new year message to insurance sector operators, said 2020 is an important year for the industry, adding that it is a year in which operators are expected to put into practice all that they preach as professionals.
“Recapitalisation of insurance and reinsurance companies is no longer an idea, but a reality and the industry has to embrace it wholly. Its advent calls for insurance professionals to embrace creativity and work harder than ever before for the future of this industry.
“It will not be an easy ride and all our resources will be stretched thin, however it is my belief that we will all profit from this exercise,” Efekoha stated.
He urged the insurers to embrace professionalism and uphold the institute’s ethics and values in the course of their business dealings in 2020, adding that the membership of the institute is one of the major ways to get to the pinnacle of the insurance profession.
“You can only be truly identified as a member by promptly paying your dues, levies and participating in the programmes lined up in the institute’s calender.
“There are many benefits to be derived from the membership of the institute including but not limited to access to industry reports and research papers, discounted examination fees, group life benefits (to the tune of N500,000) and permanent disability benefits (to the tune of N250,000).”
He assured that the institute remains committed to offering value to its members, adding that more benefits would be unveiled in the nearest future.
Efekoha, who is also the Managing Director, Consolidated Hallmark Insurance Plc, said the theme of his administration still focuses on advancing insurance education and professionalism, insisting that this is consistent with the institute’s mission to provide world class manpower with the highest standard of professional and ethical training for operating effectively and efficiently in the Nigerian and International business environment.
“The institute is our pride and represents a beacon of light to the insurance industry. It is my hope that as stakeholders, we will continue to lift the institute higher by actively participating in its programmes and activities in 2020, thus making the year more successful than the previous,” he added.