Buhari okays insurance recap - The Nation Newspaper

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Buhari okays insurance recap - The Nation Newspaper
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Buhari okays insurance recap

PRESIDENT Muhammadu Buhari on Monday approved the National Insurance Commission directive for the recapitalisation of the insurance firms. He urged the operators not to fight the policy.

Buhari said insurance companies are facing many challenges in the current environment and as such, they should realise that market innovation and performance of duties such as creating good services and prompt delivery of those services to customers would facilitate the growth and development of the industry.

In this regard, he expects the various arms of the sector to support and work with the regulator to ensure the realisation of this and all set targets. “Insurance companies are now facing many challenges in the current constituted environment and as such realised that market innovation and their duty such as creating good services, prompt and delivery of those services to customers would facilitate the growth and development of the industry.

Consequently, President Buhari raised four questions for operators at the conference to explore in order to start building the strategy for companies to adopt.

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