Nigeria’s insurance sector will host a landmark regional conference focusing on climate change adaptation, bringing together industry leaders from across West Africa to address mounting environmental risks threatening the continent’s economic stability.
The West African Insurance Companies Association 2025 Education Conference will take place October 12-15 at Eko Hotels & Suites in Lagos, with delegates expected from Nigeria, Ghana, Gambia, Sierra Leone, Liberia and other regional markets.
Organized by the Nigerian Insurers Association on behalf of the broader Nigerian insurance market, the four-day event carries the theme “The West African Insurer in the Face of Climate Change,” highlighting the critical role insurance companies play in protecting communities from escalating climate-related disasters.
The conference addresses urgent industry pressures to align with Paris Agreement commitments while developing sustainable practices across West African markets. Regional insurers face growing demands to integrate environmental risk assessments into underwriting processes and create inclusive insurance products for vulnerable populations.
Nigeria’s selection as host reflects its strategic position as a regional financial hub and its expanding insurance sector’s commitment to sustainable development. Lagos offers additional advantages through its established conference infrastructure and regional accessibility.
Conference organizers have outlined four key focus areas for discussions: climate-resilient insurance models and regulatory frameworks, innovations in digital claims processing and green underwriting practices, enhanced regional collaboration through public-private partnerships, and incentive structures including premium discounts for low-carbon assets and government-backed reinsurance pools.
The speaker lineup includes prominent regional figures addressing climate finance and insurance innovation. Olusegun Ayo Omosehin, Commissioner for Insurance and CEO of Nigeria’s National Insurance Commission, will deliver the keynote address focusing on regulatory responses to climate risks.
Other confirmed speakers include Bockarie Kaloko, Deputy Minister of Finance for Sierra Leone, Wole Oshin, Group Managing Director of Custodian Investments Plc, and Dr. Abiba Zakariah, Acting Commissioner of Insurance for Ghana. Additional participants will include regulators, government officials, insurance professionals and development agency representatives from across West Africa.
The conference represents a significant step toward regional coordination on climate-related insurance challenges. West African nations face increasing exposure to extreme weather events, rising sea levels, and environmental degradation that threaten both individual livelihoods and broader economic stability.
Industry analysts note that effective climate risk management requires collaboration between insurers, governments, and international development partners. The Lagos gathering aims to establish frameworks for such cooperation while sharing best practices across Anglophone West African markets.
Conference organizers emphasize the event’s practical focus on equipping insurers with tools to navigate evolving climate landscapes. Sessions will address technical aspects of environmental risk assessment, product development for climate adaptation, and financing mechanisms for sustainable development projects.
The timing reflects growing recognition that insurance sectors must evolve rapidly to address climate challenges while maintaining financial stability. West African insurers face particular pressures due to limited resources and high exposure to climate vulnerabilities across the region.
WAICA represents one of Africa’s most established regional insurance associations, facilitating cooperation among member companies across multiple countries. The organization’s focus on education and professional development makes it well-positioned to address complex climate adaptation challenges facing the regional industry.
The Lagos conference is expected to produce concrete recommendations for policy makers and industry leaders, potentially influencing regulatory approaches and product development strategies across participating markets.
