2023 and Emerging Challenges for Insurers Activities and developments in both local and global business environment made insurers to see 2023 as positive business year with emerging challenges
Activities and developments in both local and global business environment made insurers to see 2023 as positive business year with emerging challenges, writesAs the global business community closes its annual transaction books for the year 2022 and opened an entirely new book for 2023, insurance operators said they were marching into the new year with positive thinking that the year would be a vibrant one though with a lot of challenges to contend with.
Signs of this belief among the insurers is glaring at the expressing of the insurance Commissioner, Mr Sunday Olorundare Thomas, when in the last quarter of 2022, he declared that the insurance sector was moving to a new landscape and that the industry would in 2023 be more prepared to achieve insurance inclusiveness in Nigeria.
On their part, global insurers are of the view that the last few years, most insurance carriers have demonstrated remarkable flexibility and resilience in overcoming a host of obstacles, especially the impact of the pandemic and the economic fallout from the Russia-Ukraine conflict. Systems and capabilities were improved, while agile talent and technology strategies paid off.
Deloitte further observed that insurers are most likely going to face a host of macroeconomic and geopolitical challenges likely to inhibit growth and profitability including the looming threat of global recession, continuing fallout from Russia’s invasion of Ukraine, and lingering COVID-19 concerns.
The Deloitte report noted that insurers are facing a host of macroeconomic and geopolitical challenges likely to inhibit growth and profitability during the year including the looming threat of global recession, continuing fallout from Russia’s invasion of Ukraine, and lingering COVID-19 concerns.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2023 Preview: 12 emerging Nigerian athletes to watchSome young Nigerian athletes have thrown their hats in the ring, having shown their skills and hard work and their readiness...
Read more »
Report: Election Uncertainty, Debt Burden, Others to Expose Nigeria’s Economy to External Shocks in 2023 – THISDAYLIVE
Read more »
Greater Things Will Happen in 2023 in Lagos, Says Sanwo-Olu – THISDAYLIVE
Read more »
2023: FG tasks workers on policies implementation - Daily TrustThe federal government has tasked federal workers to uphold the civil service rules in discharging their responsibilities ahead of the 2023 general elections transitions.
Read more »
EDITORIAL: A hopeful 2023, despite spiralling insecurityWe leave behind 2022 with its avalanche of security challenges, agitations for secession, inflationary pressures, strikes that disrupted the academic calendar and social dysfunctions.
Read more »
Pastor Adeboye of Redeemed Church releases prophecies for 2023Pastor Adeboye spoke at the Crossover night, saying he foresees better days for Nigeria.
Read more »