West African insurers to deliberate on climate risk, sustainability

Top insurance executives from across West Africa will meet in Lagos to address the mounting threats and opportunities linked to climate change, signaling a stronger industry push toward sustainability and climate resilience in the region.

The high-level meeting is scheduled for October 12 to 15 in Lagos, and is being organised by the Nigerian Insurers Association (NIA) on behalf of the Nigerian insurance market.

The event, themed ‘The West African Insurers in the Face of Climate Change’, will focus on the vital role insurers play in protecting communities and economies from the escalating risks of climate-related disasters.

Delegates from Nigeria, Ghana, Gambia, Sierra Leone, Liberia and other West African countries are expected to attend, alongside regulators, government officials, industry leaders and development partners.

According to the organisers, the conference will address pressing issues such as climate–resilient insurance models, regulatory frameworks, green underwriting practices and digital innovations in claims processing.
Speaking on the significance of the programme, the Local Organising Committee said the forum would strengthen regional collaboration and advance the development of inclusive insurance products that cater to vulnerable populations.

The discussions will also explore incentives such as premium discounts for low-carbon assets and government-backed reinsurance pools designed to drive sustainable growth in the industry.

Confirmed speakers of the forum include Commissioner for Insurance, Olusegun Omosehin, who will deliver the keynote.

Other dignitaries include Deputy Minister of Finance, Sierra Leone, Bockarie Kaloko; Acting Commissioner of Insurance, Ghana, Dr Abib Zakariah; Group Managing Director, Custodian Investments Plc, Wole Oshin as well as senior regulators and development agency executives from across West Africa.

Hosting the WAICA 2025 Education Conference reinforces Nigeria’s position as a strategic insurance hub in the sub-region.

Organisers said Lagos, known for its vibrant culture and business dynamism, will provide an ideal setting for delegates to network, share insights and shape the future of climate-aware insurance.

Source: https://guardian.ng/