• Monday, April 22, 2024
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Ovia calls for policy framework to deepen insurance penetration in Nigeria

jim ovia

…As Zenith Insurance turns 20

Jim Ovia, founder and chairman, Zenith Bank, has called for more regulatory and policy framework to help deepen insurance penetration in Nigeria.

Ovia said this during the Zenith Insurance 20 years celebration held at the Civic Centre on Friday March 22, 2024 in Lagos.

According to him, Nigeria cannot experience meaningful development or attract the needed investment with the current one percent penetration.

He disclosed that there was an urgent need to revive the insurance sector through policy changes that will enable people to invest in the insurance sector.

Read also: Nigeria can achieve 1 million mobile insurance annually – Jim Ovia

“My own belief is that there is so much to do in the insurance sector; there is so much we haven’t done,” he said.

According to Ovia, Nigeria and Nigerians can recover some lost resources with a better insurance penetration level.

The occasion was also used to celebrate some members of staff for their dedication and excellence service to the Zenith brand.

Eleven of the staffers were recognised with the long service awards and cash reward of N10 million.

Two of the staffers were rewarded with the excellence awards, while another staff member won the marketing excellence award.

The company also celebrated its loyal customers for standing with the brand for the past two decades.