The Nigerian insurance industry, while demonstrating commendable growth with a Gross Premium Income exceeding ₦1.2 trillion in 2024, continues to grapple with a significant penetration gap. This disparity between awareness and actual insurance uptake, particularly concerning the nation’s substantial population, necessitates a paradigm shift in strategic thinking and innovative approaches. Ms. Prisca Soares, Chair of the 2025 Almond Awards Panel of Judges, emphasized this need for fresh perspectives during the unveiling of nominations for the annual awards ceremony. The Almond Insurance Industry Awards, slated for November 7th, 2025, serves as a vital platform to spotlight and celebrate industry players who are driving positive change and pushing the boundaries of insurance penetration despite existing economic and social hurdles.
The awards, themed “#Recharged,” aim to acknowledge and reward the unwavering efforts of individuals across various segments of the insurance sector who persistently strive to promote and distribute insurance products, often navigating challenging circumstances. This recognition underscores the importance of their contributions in expanding insurance coverage and fostering financial security within the Nigerian population. The event will convene a diverse audience, including policymakers, insurance professionals, entertainers, and the general public, creating a synergistic environment to celebrate innovation and leadership within the industry. Through this inclusive approach, the Almond Awards seeks to amplify the positive narrative surrounding insurance and its potential to safeguard individuals and businesses against unforeseen risks.
The nomination process, officially launched on Friday, will remain open for four weeks, concluding on June 30th. A distinguished panel of judges will meticulously review the nominations to identify individuals who have demonstrated exceptional dedication and ingenuity in promoting insurance within Nigeria. This panel, comprising experts with extensive industry knowledge and experience, includes Ms. Soares, former Secretary-General of the African Insurance Organisation; Mr. Rotimi Okpaise, Executive Chairman of Zamara Consulting Actuaries, Nigeria, and former Head of Research & Statistics at the Nigerian Insurers Association; Dr. Obinna Chilekezie; Jean Anishere SAN of Jean Chiazor and Partners and a Member of the International Chamber of Commerce’s Internal Court of Arbitration; and Mr. Salami Obomeile, Director of Human Resources & Administration at the National Insurance Commission. Their collective expertise ensures a rigorous and impartial evaluation of the nominations, ultimately selecting deserving recipients who exemplify the spirit of innovation and commitment within the insurance sector.
The Almond Insurance Industry Awards plays a crucial role in fostering a culture of excellence and innovation within the Nigerian insurance landscape. By recognizing and rewarding outstanding achievements, the awards inspire industry professionals to continually seek new and effective strategies to bridge the penetration gap and extend insurance coverage to a wider segment of the population. This, in turn, contributes to enhanced financial resilience and stability for individuals, businesses, and the nation as a whole. The awards ceremony also serves as a vital networking platform, facilitating connections and collaborations among industry stakeholders, fostering a sense of community and shared purpose in driving the growth and development of the insurance sector.
The continued success of the Almond Insurance Industry Awards hinges on the collective efforts of all stakeholders, including insurance companies, regulatory bodies, industry associations, and the media. By working together to raise awareness about the importance of insurance and promoting innovative solutions to address the penetration challenge, these stakeholders can create a more inclusive and robust insurance ecosystem in Nigeria. The awards ceremony itself serves as a powerful catalyst for change, inspiring industry professionals to push the boundaries of innovation and strive for excellence in their respective fields. The recognition bestowed upon the awardees further amplifies their impact, encouraging them to continue their impactful work in promoting insurance penetration and financial security throughout the country.
The “#Recharged” theme of the 2025 Almond Insurance Industry Awards reflects the renewed focus on invigorating the industry and driving further progress in addressing the penetration gap. It underscores the importance of adapting to the evolving economic and social landscape, leveraging technology, and embracing innovative distribution channels to reach underserved populations. The awards ceremony serves as a platform to showcase these advancements and celebrate the individuals and organizations at the forefront of this transformation. By fostering a spirit of collaboration and recognizing outstanding contributions, the Almond Awards empowers the Nigerian insurance industry to overcome challenges and achieve its full potential in protecting individuals and businesses against risk.
