Insurance brokers in West Africa will be converging in Banjul, The Gambia on August 3 and 4 to deliberate on ways to growing insurance broking practice in Africa and beyond.
The insurance intermediaries will be meeting during the International Brokers Forum being hosted by the West African Insurance Institute (WAII) in conjunction with the Nigerian Council of Registered Insurance Brokers (NCRIB).
This forum will provide an avenue for brokers and direct insurers from the sub-region to dilate on two topical issues as papers will be delivered by Peter King of CK Re Limited, London and Sola Tinubu, Vice President of the NCRIB at the two-day event on the main theme “Strategies for Growing Insurance Broking Practice in Africa and Beyond” and a sub-theme “Implementation of the ‘No Premium No Cover’ Policy: Challenges and Opportunities for Growth” respectively.
The organisers stated that the Minister of Finance of the Republic of The Gambia who also doubles as the Chairman of the Governing Council of WAII will deliver the keynote address and declare the forum open.
WAII was established by the Governments of Five Anglophone West African Countries of Nigeria, Ghana, The Gambia, Liberia and Sierra Leone.
The agreement establishing WAII state, among others, that it shall be a multinational insurance centre with full diplomatic status and juridical personality and financial authority.
WAII provides professional insurance education to the personnel of the insurance industry as well as to that of the supervisory service, while also organising research programmes and projects in all aspect of insurance, reinsurance and allied subjects.
It also serves as a centre for the collection of technical and other insurance data and shall provide technical assistance to member countries, if requested by any and such request is approved by the Governing, Council.
All the power of the institute are vested in the Governing Council made up of five representatives from Nigeria, three from Ghana, and two representatives each from Sierra Leone, Liberia and The Gambia. The Commissioners of Insurance of the five Member Countries are members by virtue of their positions.