The newly elected President of the West African Insurance Companies Association (WAICA), Mr Eddie Efekoha, has promised to work hard in collaboration with other stakeholders to reinvent WAICA policies for more value addition.
He made the promise in his acceptance speech as the newly elected President of WAICA, at the closing dinner of the 2023 education conference and 50th anniversary of the association held in Lagos.
The new WAICA President, in his three-point agenda, said he will ensure proper restructuring and staffing of the Secretariat; work with WAISA to harmonize policies and regulations within the sub region and make WAICA a repository of information on insurance in West Africa.
To achieve this, Efekoha said, “the West African Insurance industry need to collectively, and in unity, step up its actions by being the backbone of the various economies, provide the much-required peace of mind for all stakeholders in these crucial times and create an enabling environment for industries and economies in the sub-region. I promise solemnly that we will work hard to reinvent WAICA for more value addition.
“I will work closely with other stakeholders including the Regulators across the sub-region to give WAICA the required impetus and support to serve the insurance industries and the nations better.
“Together, from the chores of Gambia to Ghana to Liberia to Nigeria and to Sierra Leone, we shall work together to ensure that insurance takes its rightful place in the Anglophone West African States and will become the envy of all on how insurance should be practiced for profitability, in unity and with integrity, professionalism, hindsight and foresight.”
Speaking further, the WAICA President who is also the Group Managing Director of Consolidated Hallmark Insurance PLC said that during his tenure, he hopes to galvanize the collective knowledge, strength, and willpower of members to build the WAICA of their dream and aspiration even as he pledged to uphold and promote the ideals of the association.
“I pledge to continue to uphold and promote the ideals of WAICA as we collectively strive to take the Association to the next higher level by focusing more on areas that require improvement in order to actualize our desire to build a sound, efficient and financially stable WAICA capable of adding value to its members across West Africa,” he said.
Efekoha also promised to ensure the sustenance of and building on the modest achievements recorded over the last five decades which, he said, have been made possible by the solid foundation laid by the founding fathers and sustained by successive leadership of WAICA.
He thanked those who contributed in one way or the other to the success of the event.