Nigeria’s Commissioner for Insurance, Mr. Olorundare Sunday Thomas Elected OAISA President
The Commissioner for Insurance/Chief Executive Officer of the National Insurance Commission (NAICOM) Nigeria, Mr. Olorundare Sunday Thomas has been elected the President of the Organization of African Insurance Supervisory Authorities (OAISA).
According to a statement yesterday by the Commission, 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 organization eligible for the rights and privileges granted by the 1961 Vienna Convention on Diplomatic Relations. It’s an organization saddled with the objects 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 Organization shall serve the continent for a period of two (2) years in the first instance, renewable once.
It’s imperative to note that Mr. Thomas was the pioneer chairman of the West Africa Insurance Supervisors Association, WAISA.
He holds a BSc (Hons) in Actuarial Science and an MBA in Finance both from the University of Lagos. He is also a Fellow of the Chartered Insurance Institute, London and Nigeria, a Member Society of Fellows of the CII London, Member, Nigeria Institute of Management among others.
