Inspenonline is reporting that Mr. Sunday Olorundare Thomas, Deputy Commissioner, Technical, at the National Insurance Commission (NAICOM), has been appointed the acting Commissioner for Insurance.
NAICOM was established in 1997 by the National Insurance Commission Act 1997 with responsibility for ensuring the effective administration, supervision, regulation and control of insurance business in Nigeria and protection of insurance policyholders, beneficiaries and third parties to insurance contracts.
According to the report, Thomas’ ascension was sequel to the departure of the former Commissioner for Insurance, Mohammed Kari, who has completed his four year tenure.
Kari reportedly handed over to Thomas on Tuesday, July 30, 2019.
It will be recalled that Thomas was appointed Deputy Commissioner for Insurance, Technical, by President Muhammadu Buhari on April 15, 2017.
Prior to this appointment in 2017, Thomas held the position of Director–General at the Nigerian Insurers Association (NIA) for seven years from May 2010.
He is a vastly experienced and knowledgeable Insurance Professional with over 35 years uninterrupted service to the Nigerian insurance industry. During these years, Mr. Thomas worked as a Director for seventeen (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.
