ADDRESS BY MR EDWIN IGBITI PRESIDENT/CHAIRMAN OF COUNCIL, CHARTERED INSURANCE INSTITUTE OF NIGERIA AT THE 2022 CIIN SECOND EDITION BUSINESS OUTLOOK; A HYBRID PROGRAMME HELD AT ORIENTAL HOTEL, VICTORIA ISLAND, LAGOS ON JULY 28, 2022
It is with great honour I welcome you all to our Institute’s Second Edition of the Business Outlook. A forum where key players in the Insurance Industry as well as the Finance sub-sector of the economy converge to review the business environment in the country for the immediate past year and strategise on the way forward for the insurance industry in the New Year.
This programme among other things, examines the national budget, reviews the thrusts of the fiscal and monetary policies of the government and estimate how these would influence the insurance industry in particular and the economy in general.
The first session of this seminar was held on Wednesday, February 23, 2022 where notable speakers analysed the 2022 national budget as it relates to the Insurance industry and how the industry can reposition itself. The objective of this second part of the programme is to review what we have achieved from the first, where we currently are and to proffer recommendations for the rest of the year for the profitability of the industry.
The theme for this year’s Business Outlook remains: “Economic Policies of the Government in 2022: Challenges, Issues and Prospects”.
Distinguished Guests, Ladies and Gentlemen, I am very optimistic that this second edition will be very insightful considering the challenges bedeviling the country such as; insecurity, high inflation rate, debts, oil subsidy as well as trending matters like the the upcoming elections; even though there was a positive projection of the global industry at the beginning of the year, these issues will surely have its effect on the insurance industry and the economy in general. So, this is a great avenue for us discuss and have foresight on how to effectively manage our various businesses in the industry amidst these threats.
At this point, I want to appreciate the Commissioner for Insurance for always answering our call whenever we reach out and doing so with the zeal, dexterity and commitment that defines true professionalism. I also salute our theme speakers: Dr. Oladimeji Alo, the Managing Director/CEO, Excel Professional Service Limited and Mr. Peter Ashade, Group CEO, United Capital Plc. We appreciate your thoughtfulness for agreeing to partner with the Institute on this remarkable programme.
Ladies and Gentlemen, let me end my speech by welcoming you all again to this seminar which promises to be very interactive and knowledge driven. I believe our speakers will enlighten us beyond our expectations.
Thank you all for your attention and God bless.
Mr. Edwin Igbiti, ACII, FIIN
President/Chairman of Council
Chartered Insurance Institute of Nigeria (CIIN)