Nigeria: NCRIB Applauds FG's Infrastructure Development, Endorses Universal Insurance for Patronage

President of Nigerian Council of Registered Insurance Brokers(NCRIB), Mrs Ekeoma Ezeibe, has applauded the various reforms by different levels of governments which have thrown up opportunities for infrastructural projects execution in different parts of the country.

According to her, the reforms have created insurable assets at scale adding that, "Our job is to be present where value is created. The headwinds are easing. NCRIB will ensure brokers convert national growth into insured growth."

Ezeibe who spoke at the April edition of the NCRIB Members' Evening hosted by the Universal Insurance Plc, endorsed the underwriting firm as one worthy of brokers' patronage expressing deep concern on the contribution of insurance to the Nigerian Economy.

She noted that various reforms by governments were unlocking values, highlighting some of them as the FX market unification which she said has restored transparency.

She further noted that subsidy savings now fund infrastructure pointing at the Lagos-Calabar Coastal Highway, new industrial roads in Abia, and the Presidential CNG Initiative which she said were cutting logistics costs and powering SMEs and Tax reforms and simplifying compliance.

Highlighting insurance opportunities in these, Ezeibe said "What does this mean for us? New roads need Builders' Liability; CNG fleets need Motor and GIT covers; Formalising SMEs need Group Life and Assets, All Risk and Infrastructure bonds need performance guarantees" she stated. She said NCRIB would ensure brokers convert national growth into insured growth.

Speaking, Managing Director/CEO, Universal Insurance Plc, Dr. Japhet Duru, appreciated the contributions of brokers towards the growth of his company. "Brokers remain the backbone of insurance distribution, and at Universal Insurance Plc, we do not take this for granted. You are not just intermediaries; you are partners in progress, trusted advisors to clients, and critical drivers of our growth."Our relationship with brokers has continued to evolve, guided by mutual respect, transparency, and shared goals," he stated.

According to him, over the past years Universal Insurance has taken deliberate steps to deepen this partnership.

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