NAICOM, FSD Africa partnership yields dividend

THE partnership entered into by the National Insurance Commission (NAICOM) with FSD Africa has yielded the desired result as the latter has embarked on capacity building for the staff of NAICOM.

Already, sequel to the NAICOM’s collaboration with FSD Africa, a two-week training on Risk Based Capital (RBC) for 70 members of staff of the Commission has been concluded.

The training was facilitated by the principal in charge of innovation at FSD Africa, Mr Elias Omondi.

According to NAICOM, other benefits of the partnership will spill over to the Nigerian Insurance Industry, and they include, the development of Risk Based Capital framework and toolkit and the incorporation of Economic, Social and Governance (ESG) Principles into their operations.

The commission added that the partnership will also lead to the development of Innovation portrait which would facilitate innovation for the regulator and insurance operators amongst others.

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