By Enyichukwu Enemanna
A Nigeria will assume leadership of African insurance, after Olorundare Sunday Thomas, was elected as President of the Organisation of African Insurance Supervisory Authorities (OAISA).
Before his election, Thomas was the Chief Executive Officer of the National Insurance Commission (NAICOM).
The newly-elected officials of the organisation shall serve the continent for a period of two years in the first instance and renewable once, a statement from NAICOM on Friday said.
Thomas was elected alongside the organisation’s vice-president, Issouf Traore of Cote D’Ivoire. Their election was ratified at the general assembly of the body at Tunis, Tunisia.
The OAISA is an intergovernmental organisation eligible for the rights and privileges granted by the 1961 Vienna Convention on Diplomatic Relations.
It is saddled with the objectives of promoting cooperation among African Insurance Supervisory Authorities to share experience in the effective supervision of the insurance industry in Africa as well as the development of Insurance Markets for the benefits and protection of policyholders.
The statement added that Thomas was the pioneer chairman of the West Africa Insurance Supervisors Association (WAISA).
