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Igbiti Becomes President Of CIIN July 15

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Barring any unforseen circumstances, Edwin Igbiti will be inaugurated as the 51st President/Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos on July 15.
He will be succeeding Sir (Dr.) Muftau Oyegunle.
In his quest for knowledge, Igbiti obtained an Advanced Diploma in Management from the Department of Business Administration, University of Lagos in 1996 and a Master’s Degree in Business Administration (MBA) from the University of Ado Ekiti, in 2005.
Similarly, he has garnered professional certifications both within and outside Nigeria such as Executive Leadership Programme of Howard University School of Business and Chief Executive and Directors Programme from the Management School in London.
Igbiti is a Certified Insurance practitioner with the Chartered Insurance Institute of London (CII), a Fellow of the Chartered Insurance Institute of Nigeria (FIIN), a Fellow of the Risk Managers Society of Nigeria (RIMSON), Associate of the Nigerian Council of Registered Insurance Brokers (NCRIB) and a Fellow of the Risk Surveyors Association of Nigeria (RISAN).
He is a seasoned professional with depth and wealth of technical expertise having worked in various capacities, including underwriting, sales and claims management in the insurance industry.
He started his professional sojourn at Phoenix Insurance Company as an Underwriting Trainee before moving to AIICO Insurance Plc where he worked for several years and provided managerial, strategic and operational leadership in uniquely challenging situations with verifiable evidence of achieving revenue, profit and business growth objectives.
He served as the General Manager, Non-Life Underwriting at AIICO Insurance Plc between January 2010 to September 2013. During this period, he was responsible for the overall performance of the General Insurance Division. He rose to the position of the Group Managing Director/Chief Executive Officer, AIICO Insurance Plc in Year 2013 where he was responsible for running and supervising the affairs of the Company and its subsidiaries (AIICO Pension, AIICO Capital and AIICO Multishield). In the years he served as the GMD of AIICO, he recorded giant strides which contributed hugely to the company’s overall growth.
Mr. Igbiti also served briefly as the Managing Director of Niger Insurance Plc before moving to Quicklink Insurance Brokers Limited as a top management staff where he is active till date.
Aside from being an insurance professional, Edwin is a chartered member of the Nigerian Institute of Management, a certified Business Continuity Systems Lead Auditor from the British Institute, UK and an alumnus of the Howard University Business School, U.S.A. He is a Member of the Institute of Directors (IoD), and was once a Council member of the Nigerian Insurers Association (NIA). He is the immediate past Chairman of the Governing Board of the College of Insurance and Financial Management and he currently seats as the Deputy President on the Governing Council of the Chartered Insurance Institute of Nigeria (CIIN) where he has meteorically risen to the 51st President of the Institute.
Igbiti is a devoted Christian and actively involved in the service of the Lord. He has a Diploma in Theology from the Redeemed Christian Church of God Bible College.
He is happily married and blessed with children.

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13-year-old Wins Heirs Insurance Essay Championship, Gets N5m

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Heirs Insurance Group has announced the winners of the 4th edition of the Heirs Insurance Essay Championship, a nationwide competition promoting financial literacy and academic excellence among secondary school students and educators.
The grand finale, held in Abuja recently, brought together students, parents, and academic leaders for a celebration of knowledge and creativity. This year’s edition, which attracted over 5,000 entries from junior secondary school students nationwide, was anchored on the topic “The Role of Insurance in Keeping Families Safe and Secure”.
After a rigorous evaluation process by a panel of academic professionals, independently verified by Deloitte & Touche, 13-year-old Rhema-Love Abraham of Precepts Learning Field, Lagos, emerged as the overall winner, earning a N5 million scholarship and a N1 million grant for her school.
Bernice Michael of S-TEE High School, Lagos, claimed the second-place position, winning a N2 million scholarship, while Afopefoluwa Tofio-Jacobs of D-IVY College, Ogun State, took third place, receiving a N1 million scholarship.
This year, Heirs Insurance introduced the inaugural Teachers Prize, to honour teachers promoting insurance awareness within their schools and communities. This initiative was created to democratise access to insurance literacy, working collaboratively with teachers and educators.
Mr. Okpe James Chidi, a teacher at Urban Secondary School, Umuna Orlu, Imo State, emerged as the winner of the Teachers’ Insurance Awareness Prize, with a personal award of N1 million cash prize, and a N500,000 grant for his school. His project, which deepened students’ understanding of financial literacy and insurance, was praised for its innovation, reach, and measurable impact.
Speaking at the ceremony, Niyi Onifade, Sector Head, Heirs Insurance Group, commended all the participants for their creativity and drive, emphasising the Group’s commitment to nurturing future leaders through education.
He said, “We are proud of every student and teacher who participated in this year’s Essay Championship. Their creativity, curiosity, and dedication reflect the future we envision for our nation; one built on knowledge, innovation, and resilience. At Heirs Insurance Group, we believe financial literacy is a powerful tool for empowerment and transformation”.
The Heirs Insurance Essay Championship is a flagship Corporate Social Responsibility (CSR) initiative of Heirs Insurance Group, created to build awareness of insurance literacy and critical thinking among young Nigerians. The introduction of the Teachers’ Insurance Awareness Prize further demonstrates the Group’s commitment to advancing insurance education and promoting financial inclusion at every level of society.

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Leadway Assurance Wins Two At BAFI Awards

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Leadway Assurance won two awards at the 2025 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, as the Insurance Company of the Year and Excellence in Claims Leadership & Digital Innovation. This is the second consecutive year the company would be emerging as the insurance company of the year.
These recognitions reaffirm Leadway Assurance’s position as a trusted insurer, underpinned by 55 years of legacy of integrity, innovation, and customer focus.
In 2024 alone, the company paid out N117 billion in claims. Each payout reflects restored livelihoods and renewed confidence for families and businesses across the country.
Commenting on the milestone, Gboyega Lesi, Managing Director of Leadway Assurance, said: “These double honours are a worthy recognition of the dedication of our team and our commitment to serving customers better every day. The recognition motivates us to continue building systems and teams that ensure no one faces uncertainty alone. Each innovation and every claim fulfilled reaffirms our promise to provide protection. For Leadway Assurance, these accolades celebrate our sense of purpose, reliability, and the lasting strength of an indigenous brand built to endure.
“Winning the Insurance Company of the Year for the second consecutive year and adding Excellence in Claims Leadership and Digital Innovation awards reflects our consistent devotion to excellence, consistency, and innovation in delivering value. We thank the leadership of BusinessDay for celebrating our relentless pursuit of efficiency, transparency, and empathy in every customer interaction; from simplifying claims processes to leveraging technology for faster, smarter access to insurance policies, as we continue to redefine trust and innovation in the insurance industry.”
Leadway Assurance’s transformation of claims management has set a new benchmark in the insurance industry. Leveraging cutting-edge technology, the company has digitised its claims processes, enabling customers to file, track, and finalise claims seamlessly. This digital shift has significantly reduced turnaround times and elevated customer experience nationwide.

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NAICOM Charges Insurers To Develop Parametric, Microinsurance Products For Climate

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By Sola Alabadan

The Commissioner for Insurance and Chief Executive of National Insurance Commission (NAICOM), Mr Olusegun Omosehin has advised West African insurers to develop parametric and microinsurance products tailored to the region’s climate realities.
Giving this charge at the 2025 WAICA Conference in Lagos, Omosehin also urged insurers to invest in data and technology to improve climate modelling, risk assessment, and product delivery.
The theme of this year’s conference, was “The West African Insurer in the Face of Climate Change”.
He added the the insurance operators have to expand inclusion, and ensure that insurance reaches farmers, market women, artisans, and micro-entrepreneurs, which is the backbone of our economies.
He stressed that insurers must prioritise capacity building, investing in the next generation of insurance professionals, as well as make sure that insurance evolve from a transactional service to a strategic enabler of development.
He also pointed out that “Climate change is rewriting the narrative of our region. It is testing the strength of our economies, the endurance of our communities, and the responsiveness of our institutions. It has become a macroeconomic threat, influencing fiscal policy, national budgets, and the stability of our financial systems.
“The evidence is sobering. In 2024, flooding affected over 7.5 million people across 16 West African countries. Nigeria alone accounted for 1.3 million displaced persons. In 2025, over 33,000 Nigerians were displaced, 3,800 homes destroyed, and 5,300 hectares of farmland submerged—threatening food security and economic stability.
These are not just statistics—they are stories of disruption, loss, and delayed development. Yet, within this crisis lies an opportunity: to redefine the role of insurance as a force for resilience and sustainable development”.
Like many African nations, he stated that Nigeria faces a significant climate finance gap, noting that “Traditional budgetary responses are no longer sufficient. We must strengthen financial instruments that allow us to anticipate shocks rather than merely react to them.
When integrated into national planning, insurance becomes one of the most effective tools for climate risk management and economic resilience”.
He further assured that NAICOM is committed to enabling policies that foster collaboration between operators, regulators, and development partners, adding that strengthening climate resilience across West Africa demands a unified approach—one that blends sound regulation, market innovation, and strategic partnerships.

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