NAICOM boss, Thomas elected President Organization of African Insurance Supervisory Authorities

The Commissioner for Insurance, Nigeria, Mr. Olorundare Sunday Thomas, has been elected the President of the Organization of African Insurance Supervisory Authorities (OAISA).

A statement issued by the Commission also confirmed that Mr. Issouf Traore of Cote D’ Ivoire, was elected vice-president, which was ratified at the General Assembly of the body in Tunis, Tunisia recently.

The OAISA is an inter-governmental organization eligible for the rights and privileges granted by the 1961 Vienna Convention on Diplomatic Relations. It’s an organization saddled with the responsibilities of promoting cooperation among African Insurance Supervisory Authorities to share experience in the effective supervision of the insurance industry in Africa.

The body also seeks to promote the development of Insurance Markets for the benefits and the protection of policyholders; contributing to capacity building and financial stability of the African Continent.

The newly elected officials of the Organization shall serve the continent for a period of two (2) years in the first instance, renewable once.

Mr. Thomas was the pioneer chairman of the West Africa Insurance Supervisors Association, (WAISA).