Joy Agwunobi
The African Insurance Organisation (AIO) has reaffirmed its commitment to deepening collaboration with the Nigerian insurance industry, promising to deliver greater value to member companies across the continent.
This commitment was underscored by Jean Baptiste, the secretary general of the AIO, during a courtesy visit to Lagos. The AIO delegation was warmly received by Kunle Ahmed, the chairman of the Nigerian Insurers Association (NIA).
In a statement signed by Ajoke Adeyemi, head of corporate communications and brand management at the NIA, the visit marked a strategic effort by the AIO to engage more closely with the Nigerian insurance community and align on regional development goals.
Baptiste praised the progress and resilience of the Nigerian insurance market, describing it as one of Africa’s most promising. He highlighted Nigeria’s significant contributions to the AIO over the years, noting that the country constantly sends the highest number of delegates to the organisation’s events and has produced several of its recent leaders.
“This strong representation reflects Nigeria’s unwavering support for both the AIO and the broader African insurance ecosystem,” Baptiste said. “Our visit is to engage directly with Nigerian stakeholders, understand their expectations, and tailor our support to better serve their needs.”
He further stated that the AIO is actively involved in efforts to harmonise regulatory frameworks across the continent. In partnership with the United Nations Development Programme (UNDP) and with funding from Africa Reinsurance Corporation, the organisation is conducting a feasibility study aimed at enabling insurance companies to operate seamlessly across African borders without the need for additional licenses.
“This initiative, if implemented, will be a game-changer for cross-border insurance operations in Africa and will strengthen market integration across the region,” he noted.
Baptiste also referenced the Pan-African Payment and Settlement System (PAPSS), developed by Afreximbank, as a platform that identifies insurers as critical players in facilitating regional trade and financial inclusion.
Looking ahead, he invited Nigerian insurers to participate in the AIO’s upcoming general assembly scheduled for the end of the month. The event will focus on “Africa’s Debt Burden and Its Impact on the Insurance Industry,” a theme Baptiste described as highly relevant to Nigeria and other African markets.
Speaking on behalf of Nigerian insurers, Kunle Ahmed, chairman of NIA, welcomed the AIO’s renewed engagement, stressing the importance of deepening support for local industry development. He urged the AIO to back Nigeria’s efforts to develop a national mortality table, strengthen actuarial capacity, and tap into opportunities under the African Continental Free Trade Area (AfCFTA).
Ahmed assured the AIO of the continued support and cooperation of Nigerian insurers, emphasising that stronger collaboration would not only benefit Nigeria but also enhance the AIO’s relevance and membership across the continent.
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