Ex-AIICO Manager Becomes Acting Head of NAICOM

By Dipo Olowookere

The Deputy Commissioner in charge of Technical at the National Insurance Commission (NAICOM), Mr Sunday Olorundare Thomas, is now the acting Commissioner for Insurance of the National Insurance Commission (NAICOM).

Mr Thomas is taking over as head of the apex regulatory agency of the insurance industry from former occupier of the position, Mr Mohammed Kari.

Mr Kari is leaving after completion of his four year tenure. His appointment was not renewed by President Muhammadu Buhari. It was gathered that Mr Kari handed over to Mr Thomas on Tuesday, July 30, 2019 at the commission’s headquarters.

Recall that on April 15, 2017, President Buhari appointed Mr Thomas as Deputy Commissioner for Insurance, Technical at NAICOM.

Prior to this appointment in 2017, he held the position of Director–General at the Nigerian Insurers Association (NIA) for seven years from May 2010.

He is a vastly experienced and knowledgeable Insurance Professional with over 35 years uninterrupted service to the Nigerian insurance industry.

During these years, Mr Thomas worked as a Director for 17 years at the NAICOM from 1992 to December 2009 where, at different times, he superintended over different departments in the technical division. He had also worked as an insurance operator for over 10 years and rose to the position of Assistant General Manager at AIICO Insurance Plc until he left in 1992 to join NAICOM. He holds a BSc (Hons) in Actuarial Science and an MBA Finance both from the University of Lagos.

NAICOM was established in 1997 by the National Insurance Commission Act 1997 with responsibility for ensuring the effective administration, supervision, regulation and control of insurance business in Nigeria and protection of insurance policyholders, beneficiaries and third parties to insurance contracts.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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