A new National Insurance Commission (NAICOM) where employees are happy and working harmoniously, and where operators have less protocols to get approvals on products, appointments and strategies that could impact positively on their market growth and development is gradually creeping in.
Right from the directorate, to junior staff, there seems to be a new found love and cordial discharge of duties that hitherto eluded the commission in a long while, no thanks to protests and labour unrest that characterized the Commission in the last few years.
From the operator’s angle, some of the impending requests including confirmation of appointments, products and partnerships that had gone through approval processes got speedy consents in the last one week, which market watchers say could mean a new era for market.
Sunday Thomas, the acting commissioner for Insurance who only got a confirmation from the Federal Government penultimate week, to continue the headship of NAICOM pending the appointment of substantive Commissioner is humble and a well grounded professional who understand the needs of the market.
His earlier sojourn in NAICOM as executive director, Technical and in the insurance trade body, Nigerian Insurers Association (NIA) was remarkable with a lot of achievements. This is expected in NAICOM as he drives the ship of the regulatory agency in the days and months ahead.
Thomas was appointed deputy commissioner for Insurance, Technical by President Muhammadu Buhari On April 15, 2017, having had over three decades of experience in the industry, both as regulator and operator.
Prior his appointment deputy commissioner Thomas held the position of director – general at the Nigerian Insurers Association (NIA) for seven years from May 2010.
He is vastly experienced and knowledgeable Insurance Professional with over 35 years uninterrupted service to the Nigerian insurance industry.
During these years, Thomas worked as a Director for 17 years at the National Insurance Commission 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.
Thomas is an active participant in the insurance industry activities and had served as member of several Committees not only within the insurance industry but the entire Financial Services Sector.
He holds a BSc (Hons) in Actuarial Science and an MBA Finance both from the University of Lagos.
Modestus Anaesoronye
