BY NKECHI NAECHE-ESEZOBOR—Representatives of Egypt’s leading insurer, MISR Insurance, have expressed strong interest in Nigeria’s evolving insurance landscape following a high-level meeting with the leadership of the National Insurance Commission (NAICOM) in Abuja.
The engagement comes on the heels of the newly enacted Nigerian Insurance Industry Reform Act 2025, a landmark legislation designed to strengthen regulatory oversight, deepen market penetration, and position Nigeria as a competitive hub for insurance and reinsurance business in Africa.
Led by Chief Executive Officer Mr. Mohammed Maharaj, the MISR delegation met with the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, to explore emerging opportunities in Nigeria’s non-life and reinsurance segments, signaling growing foreign investor confidence in the country’s reform-driven transformation agenda.
The delegation includes Ahmed Alkanhawy, Assistant CEO and Hossein Shaky of the Egypt Embassy in Nigeria, received a warm welcome from NAICOM leadership, who outlined the Commission’s mandate, recent reforms and goals to strengthen Nigeria’s insurance market in support of the country’s broader economic agenda.
Commenting on the visit, Omosehin emphasized its commitment to fostering collaboration with international partners to deepen market capacity and protect policyholders. Mr. Mohammed Maharaj expressed strong interest in Nigeria’s non-life and reinsurance opportunities and confirmed plans to meet industry stakeholders in Lagos to explore market entry and potential partnerships.
