Nigerian emerges President of the Organisation of African Insurance Supervisory Authorities

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

Mr. Thomas’ election alongside his vice-president Mr. Issouf Traore of Cote D’ Ivoire was ratified at the general assembly of the body at Tunis,  Tunisia recently.

The OAISA is an intergovernmental organisation eligible for the rights and privileges granted by the 1961 Vienna Convention on Diplomatic Relations.

It’s an organisation saddled with the objective of promoting cooperation among African Insurance Supervisory Authorities to share experience in the effective supervision of the insurance industry in Africa for 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 Organisation are expected to serve 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.