Mr Eddie Efekoha, the newly elected President of the West African Insurance Companies Association (WAICA), has promised to work hard to reinvent the association for more value addition.
Efekoha made the pledge on Wednesday in Lagos during his investiture as 40th President of WAICA for the next one year.
He expressed optimism to galvanize the collective knowledge, strength and willpower of members to build the WAICA of their dream.
“My election as the 40th president presents another opportunity for all WAICA family to re-appraise the state of the association.
“We must also chart a new course to strengthen the body for more far-reaching contributions to the socio-economic development of our sub region.
“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.
“This is 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.
According to him, his immediate tasks are to ensure proper restructuring and staffing of the WAICA Secretariat.
Efekoha said he would work with the West African Insurance Supervisors (WAISA) to harmonize policies and regulations within the sub region as well as make WAICA a repository of information on insurance in West Africa.
He noted that he would 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.
“To achieve this, WAICA members need to collectively and in unity, step up their games by being the backbone of the various economies and provide the much-required peace of mind for all stakeholders in these crucial times.
“They must also create an enabling environment for industries and economies in the sub-region.
“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.
“We will become the envy of all on how insurance should be practiced for profitability, in unity and integrity,
professionalism, hindsight and foresight,” he said.
Efekoha thanked Mr George Mensah, the immediate past President of the association for his leadership throughout his tenure and for the excellent example he laid at WAICA.
He also acknowledged the unflinching support and commitment of member-companies and countries to the lofty
objectives and ideals of WAICA, while projecting mutual working working relationship with them during his tenure.
WAICA was established in 1973, with the purpose of improving the image of the insurance industry in West Africa.
The association assists in creating an enabling environment for industries and economies.
It promotes cooperation among all the insurers and reinsurer companies operating in its sub-region.
