Business
Insurers’ Meetings: Commission To Shut Out Proxy CEOs
The Commissioner for Insurance (CFI), Alhaji Mohammed Kari has warned that the commission would no longer admit representatives at meetings meant for Chief Executive Officers of insurance companies.
Kari made this known at the first 2018 Annual Insurers’ Committee’s Retreat held in Abeokuta last Saturday.
The Tide source reports that the theme of the retreat is: “Repositioning the Insurance Industry in Nigeria for Self-Actualisation and Growth’’.
“The idea of the Insurers’ Committee was borrowed from the Bankers Committee and it is a platform for the highest echelon of the insurance industry.
“It consists of top management of NAICOM and the CEOs of insurance companies who are to dialogue on issues, challenges and proffer solutions for the development of the insurance sector.
Kari said that the commission expected that attendance at the committee’s meetings and retreats should be imperative and not optional.
“However, it is sad to note that this is not the case.
“Even when notices were given, some CEOs would give reasons not to attend and would send representatives.
“These ‘representatives’ have no voice or mandate to accept or disagree a decision because they need to report back to the CEOs.
“This would no longer be acceptable, you are either present with us or absent against us.
“There is need to involve those being regulated in policy making and initiatives of the industry.’’ Kari said.
The commissioner said that the retreat would redefine the industry and increase its contributions to national development.
“The industry has come short in its contribution to national development and other expectations like evolving financial services to the deprived part of the Nigerian population.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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