The Managing Director and Chief Executive Officer of Rex Insurance Limited was elected to lead the association during its 55th Annual General Meeting in Lagos, ushering in a fresh leadership team tasked with steering the industry’s next phase of growth.

The AGM also produced a new executive team, with the Managing Director of AIICO Insurance Plc, Babatunde Fajemirokun, elected Deputy Chairman, while the Managing Director of Anchor Insurance Company Limited, Augustine Ebose, emerged as Treasurer.

Others elected on the council are Managing Director of Coronation Insurance Plc, Olamide Olajolo; Managing Director of SanlamAllianz Life , Tunde Mimiko; Managing Director of SUNU Assurances Nigeria, Samuel Ogbodu; Managing Director of Veritas Kapital Assurance PLC, Dr. Adaobi Nwakuche and Managing Director, of Cornerstone Insurance Plc, Mr. Stephen Alangbo.

Alongside the leadership transition, the association unveiled NIA Pulse, a podcast studio established to improve insurance awareness and strengthen engagement with the public through digital media.

The platform will feature discussions involving regulators, insurers and other industry stakeholders, with the goal of simplifying insurance concepts, addressing misconceptions and promoting a better understanding of insurance products.

Speaking at the launch, the outgoing Chairman, Kunle Ahmed, said the initiative gives the industry an opportunity to tell its own story and better communicate its contributions to the nation’s economy.

He noted that despite paying substantial claims and supporting economic growth over the years, the industry’s achievements have not been adequately recognized due to the limitations of traditional communication channels.

Ahmed added that the digital platform is designed to connect with today’s technology-driven audience by delivering insurance-related content through podcasts and other online channels.

The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Olusegun Omosehin, represented by Julius Odidi, described NIA Pulse as a strategic investment that would improve consumer education and public engagement.

Also speaking, the President of the Chartered Insurance Institute of Nigeria, Mrs. Yetunde Ilori, commended the initiative, saying it reflects the industry’s collective commitment to enhancing its image and increasing public confidence.

The emergence of Mrs. Nwachukwu and the launch of NIA Pulse come at a time of ongoing reforms in Nigeria’s insurance sector, reinforcing operators’ determination to expand insurance adoption and rebuild public trust.

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Accompanied by the NIA Director-General, Mrs. Bola Odukale, the incoming chairman met with major industry groups, including the Chartered Insurance Institute of Nigeria (CIIN), the Nigerian Council of Registered Insurance Brokers (NCRIB), the Association of Registered Insurance Agents of Nigeria (ARIAN), and the Young Insurance Professionals (YIP).

The meetings form part of her vision for a more unified insurance sector, built on stronger partnerships among underwriters, brokers, agents, and emerging professionals.

During a courtesy visit to the NCRIB, Mrs. Nwachukwu held discussions with the Council’s President, Mrs. Ekeoma Ezeibe, and Executive Secretary, Mr. Tope Adaramola. Both parties stressed the importance of closer cooperation between insurers and brokers to expand insurance penetration nationwide. The NCRIB leadership described the engagement as a positive step toward advancing collective industry objectives.

At the CIIN, Mrs. Nwachukwu met with President Mrs. Yetunde Ilori, Registrar and Chief Executive Officer Abimbola Tiamiyu, and other council members. Discussions focused on professional development, leadership training, and ethical standards within the industry. She emphasized the need to move beyond certification-focused learning toward producing well-rounded insurance professionals equipped to meet evolving industry demands.

The NIA team also engaged with ARIAN leadership, led by National President Mr. Olatubosun Mayowa. Key issues raised included agents’ welfare, remuneration structures, retirement benefits, and greater recognition within the insurance value chain.

Responding to the concerns, Mrs. Nwachukwu pledged to promote a more inclusive environment for insurance agents. ARIAN, in turn, reaffirmed its commitment to professionalism, regulatory compliance, and the elimination of unethical practices.

Recognizing the role of young professionals in shaping the industry’s future, the incoming chairman also met with members of the Young Insurance Professionals network. Discussions covered mentorship opportunities, career advancement, technology adoption, and talent retention.

Mrs. Nwachukwu described investment in young professionals as a central pillar of her proposed two-year agenda, noting that the future growth and resilience of the insurance industry will depend largely on developing its human capital.

Speaking after the engagements, she expressed optimism about the level of cooperation across the sector.

“The willingness of stakeholders to work together is encouraging. As we prepare to assume leadership at the NIA, our focus will be on innovation, capacity development, and ensuring that every stakeholder has an active role in shaping the industry’s future. Sustainable growth can only be achieved through collaboration,” she said.

The NIA said it remains committed to promoting dialogue, strengthening compliance, and supporting reforms that will boost insurance penetration and contribute to national economic development.

The stakeholder meetings concluded with a shared commitment to building a stronger, more professional, and growth-oriented insurance industry in Nigeria.

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The initiative marks a significant step in the transformation of Rex Insurance into a data-led insurer, combining financial protection with real-time weather intelligence to help farmers make faster, more informed decisions.

From left: Prof. Charles Anosike, Director-General/CEO of NiMet and  Managing Director/Chief Executive of Rex Insurance Limited, Mrs. Ebelechukwu Nwachukwu.

Rex Insurance will leverage NiMet’s location-specific weather data in its Weather and Hybrid Index Insurance products to guide farmers on when to plant, how to manage their crops, and how to use farm supplies like seeds and fertilizer, while also automatically triggering payouts when extreme weather such as drought, flooding, or irregular rainfall occurs. This will help farmers plan, reduce losses, and not rely solely on compensation after damage.

“Our strategy is to redefine what insurance means for the agricultural sector,” said the Managing Director/Chief Executive of Rex Insurance Limited, Mrs. Ebelechukwu Nwachukwu. “By combining insurance with actionable weather intelligence, we are giving farmers the tools to plan, adapt, and protect their livelihoods in the face of increasing climate uncertainty.”

During the MoU signing, Prof. Charles Anosike, Director-General/CEO of NiMet, highlighted the agency’s 100-year history in weather observation and stressed that climate change increasingly threatens crops, livestock, and rural communities.

He noted that weather index insurance uses measurable weather data to trigger payouts and combined with crop calendar forecasts, helps farmers make smarter planting and harvesting decisions.

Additionally, the MD/CEO of Rex Insurance, Mrs. Ebelechukwu Nwachukwu, added that the company, founded in 1918 as Nigeria’s first insurance firm, is leveraging technology to help smallholder farmers plan more effectively, and announced that index-based insurance for farmers will soon become a reality in Nigeria.

According to Nwachukwu, “Rex Insurance will deploy the solution through its distribution network, using extension agents equipped with mobile devices to deliver both insurance coverage and weather guidance directly to farming communities, ensuring that farmers in remote areas can access these services despite historical challenges with rural insurance penetration”

She further added that “the introduction of weather-driven insurance will help farmers manage risks and protect their livelihoods as the agricultural sector in Nigeria remains highly exposed to climate variations, with increasing frequency of extreme weather events impacting yields, rural incomes, and food security” she stated.

Rex Insurance and NiMet will pilot the integrated solution under the GIZ–EU-funded VACE Programme, with a focus on demonstrating impact and accelerating nationwide adoption. The EU-VACE TARED (Agriculture Value Chain Facility – Transformative Agricultural Systems for Rural Economic Development) project is an initiative funded by the European Union

and the German Federal Ministry for Economic Cooperation and Development (BMZ) to transform Nigeria’s agricultural sector. This is Implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in partnership with Nigerian government.

With this move, Rex Insurance reinforces its position at the forefront of agricultural insurance innovation in Nigeria, aligning technology, data, and partnerships to close the protection gap for underserved farmers.

About Rex Insurance Limited (Rex)

Rex Insurance Limited (Rex) is licensed by the National Insurance Commission (NAICOM) to offer the full range of general and special risks insurance products to the insuring public. With decades of experience in the Nigerian market, Rex Insurance has an enviable reputation for technical competence and financial strength.

With a vision of being the “Preferred Nigerian Insurance Company”, our strategic direction within the next 5 years is to focus on growth and profitability with the aim of growing the company’s gross premium written and be amongst the Top-Top-Tier general insurance companies in the market.

Operating from twelve (12) business locations nationwide to ensure maximum outreach and accessibility, we have an unwavering dedication to our core values of Resilience, Efficiency, eXellence, Integrity & Teamwork (REXIT).

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The first-of-its-kind forum convened more than 100 senior leaders from across the insurance ecosystem, including operators, regulators, policymakers and other stakeholders, to discuss strategies for transforming and advancing the sector.

Designed as a high-level engagement platform, the forum seeks to align industry stakeholders on key reforms, capabilities and actions required to unlock the full potential of Nigeria’s insurance market. Participants are expected to generate actionable insights that will guide the industry’s future direction.

A major focus of the forum is building consensus around the challenges facing the sector, including regulatory hurdles and limited collaboration among industry players. Through in-depth discussions, the gathering aims to strengthen relationships between insurers, regulators and policymakers while identifying opportunities for sustainable growth.

The forum is also expected to deliver significant outcomes, including clarity on risks, opportunities and growth drivers within the industry. Stakeholders will work toward a unified vision for reform and enhanced collaboration across the insurance value chain.

In addition, the event will produce an advocacy roadmap to guide future policy changes and lay the groundwork for a proposed Insurance Industry Reform Act, with consensus-driven solutions aimed at addressing critical sector challenges.

Confirmed speakers include prominent industry leaders such as Aigboje Aig‑Imoukhuede, Chairman of Coronation Group and Access Holdings; Olusegun Ayo Omosehin, Commissioner for Insurance at National Insurance Commission (NAICOM); Tokunbo Abiru, Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions; Obi Ibekwe, CEO of EnterpriseNGR; Bola Odukale, Director-General of the Nigerian Insurers Association; and Yetunde Olubunmi Ilori, President and Chairman of Council of the Chartered Insurance Institute of Nigeria.

Speaking on the sponsorship, Managing Director/Chief Executive Officer of Rex Insurance Limited, Ebelechukwu Nwachukwu, described the forum as a critical milestone for the sector.

“We are proud to sponsor this inaugural forum, which marks a significant step toward driving reform in the insurance sector. We believe this collaborative platform will serve as a turning point in shaping a more resilient and innovative insurance industry—one that provides real solutions to the challenges we face and supports long-term growth,” she said.

Nwachukwu added that the forum would encourage meaningful dialogue among stakeholders while laying the foundation for reforms that could shape the industry for years to come.

“The forum will foster meaningful dialogue between stakeholders, create a shared vision for the future, and lay the groundwork for actionable reforms that will impact the sector for years to come. At Rex Insurance, we remain committed to supporting initiatives that strengthen the industry, promote sustainability and improve the overall value we offer to our customers,” she said.

The company noted that its sponsorship underscores its commitment to advancing Nigeria’s insurance industry through innovation, collaboration and the delivery of world-class insurance solutions for individuals and businesses.

About Rex Insurance Limited

Rex Insurance Limited is licensed by the National Insurance Commission (NAICOM) to provide a full range of general and special risks insurance products to the public. With decades of experience in the Nigerian market, the company has built a reputation for technical competence and financial strength.

With a vision of becoming the preferred Nigerian insurance company, the firm is focused on growth and profitability over the next five years, with the goal of increasing its gross premium written and positioning itself among the top-tier general insurance providers in the country.

The company operates from 12 business locations nationwide and is guided by its core values of Resilience, Efficiency, eXcellence, Integrity and Teamwork (REXIT).

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