2 March 2011

Nigeria: CIIN's Business Outlook Opens Today

CONSEQUENT upon its determination to sustain its human capital development programme, the Council of Chartered Insurance Institute of Nigeria (CIIN) said that it has concluded arrangement for the hosting of the 2011 Annual Business Outlook.

The event is meant to feature expert views and opinions on the business and economic landscape in the emerging year.

The forum which opens today, March 2, 2011 at the Goldengate Paradise Lagos is targeting insurance executives, operators and stakeholders with emphasis on underwriters, brokers, loss adjusters and administration in the insurance and related industries.

A preview of the CIIN Business Outlook 2011 as contained in a release signed by the institutes director of Public affairs Mr. Joseph Obah revealed that deliberations will focus on the theme of the event which is Strategies for business success in 2011.

Those expected to lead discussion at the event include Mrs. Ibukun Awosika who is the founder and chairman of Chair Centre Limited. Mrs. Awosika is to speak from the investors' perspective.

Also to speak is Dr.Bisi Ajiboye who is the Managing Director and chief Executive Officer of Global Rating Limited. He would be discussing from the operators' view point.

The deputy commissioner of insurance in charge of Finance and Administration at the National Insurance Commission Mr. George Onakhena would moderate discussions at the forum and also bring to bear his background as both finance analyst and regulator. Mr. Onakhena was the executive director of finance at the defunct Lion of Africa Insurance.

The Director General of the CIIN Mr. Adegboyega Adepegba is expected to chair the team of raportuers and provide an objective presentation of resolutions at the end of the forum.

Already, some of the stakeholders in the insurance industry said matters relating to financial reporting standards, compliance to rules and regulations, as well as the review of the implementation of the local content clause among others would attract the interest of participants.

It would be recalled that the insistence of the NAICOM that insurance companies make provisions unexpired risks as well as for unearned premiums have seen the accounts of insurance firms drop in seize.

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