The Insurance sector I believe is the next big thing in Nigeria as reforms continue to flow in and take shape. It’s one sector that has been under my radar and I have started taking positions in them.
The Nation recently interviewed The Managing Director, Cusolidated Hallmark Insurance Plc, Mr Eddie Efekhoha and he said somethings I found rather important.
1. Foreign investors are coming with capital, skill and knowledge.
2. We have the opportunity to make it going by the country’s population if we get things right among ourselves. The poverty level too has to improve in order for us to achieve success in micro insurance.
3. Despite the commencement of the insurance industry database three years ago, the industry is still struggling to register less than two million out of 11.5 million vehicles in Nigeria.
This is just an example. We will review this industry on Moneymetro soon.