NAICOM commits to fostering international partnership to deepen insurance market

The National Insurance Commission (NAICOM) has expressed commitment to foster collaboration with international partners to deepen insurance market capacity in the country.

The Commissioner for Insurance, Mr Olusegun Omosehin, said this in Abuja when a delegation from Egypt’s Misr Insurance visited him on Thursday.

Supreme news reports that Misr Insurance Company is one of the largest insurers in Egypt with a 40 per cent market share and strong government support.

‘’The collaboration will help the country to learn new lessons and imbibe workable experiences to move the country’s insurance industry forward.

‘’The meeting is to discuss opportunities arising from the country’s newly enacted Nigerian Insurance Industry Reform Act 2025 and the sector’s ongoing transformation agenda, ‘’Omosehin said.

Earlier, the Chief Executive Officer, Misr Insurance, Mr Mohammed Maharaj, expressed interest in the country’s non-life and re-insurance opportunities.

Maharaj said, ‘’The company’s visit to Nigeria is to meet with industry stakeholders with a view to exploring market entry and potential partnerships.