West Africa: Liberia to Host West African Insurance Companies Conference

Over 140 delegates from five anglophone countries in West Africa are expected to attend this year’s Annual Educational Conference of the West African Insurance Companies Association (WAICA) in Monrovia.

The Annual Educational Conference, the second of two WAICA Annual events, will be held from November 27-29 at the EJS Ministerial Complex in Congo Town, according to Saye D. Gbalazeh, the President of Liberia Insurance Association (LIA).

The Annual General Meeting and Annual Educational Conference of WAICA has not been held in Liberia since the outbreak of the deadly Ebola Virus in 2014.

Gbalazeh, the immediate past President of WAICA, said the WAICA’s Annual Educational Conference will bring together Insurance Actors from the five English-speaking countries of West Africa — Nigeria, Ghana, The Gambia, Sierra Leone, and Liberia.

The theme of his year’s Annual Educational Conference is “Managing Transitions and Succession Plans in Corporate Governance: The Theory and Practice in the West African Insurance Industry.”

Selected authoritative scholars are expected to provide their professional perspectives and that the attending delegates and a team of panelists will debate the content of the presentations to develop a conference resolution.

According to Mr.Gbalazeh the delegates will include Insurance executives, marketing executives, media executives, and global reinsurance companies representatives.

“The WAICA Annual Educational Conference allows the host country and participants to find practical solutions to some of its challenges and acquire knowledge on evolving trends in the industry,”the Liberian insurance executive said.

“These include global best practices and critical reform initiatives undertaken to improve the regulatory environment and make the sector reach its fullest potential.”

William B. Coker, the Secretary General and Chief Executive Officer (CEO) of WAICA, said they are looking forward to a good time in the country and to support the Insurance industry in Liberia.

According to him, WAICA intends to lobby for the industry with one voice in unity in order to develop it on a country-by-country basis.

He also said there is a harmonized program to have a unified system to provide an opportunity where Insurance companies can work across borders with limited restrictions.

It can be recalled that WAICA continued its Annual General Conference during the COVID-19 pandemic, when Gbalazeh of Liberia presided.

In May 2022, George Y. Mensah of Ghana Reinsurance Company assumed the Presidency when that country hosted the WAICA General Assembly. At that time, Al-Haji Dr. Mahamadu Bawumia, Vice-President of Ghana, was the Keynote Speaker and outlined the significant role the insurance industry continues to play in the intracultural and economic development in Ghana.

The West African Insurance Companies Association was founded on May 4, 1973 with the aim to promote cooperation in every respect amongst all the insurers and reinsurers operating in the West African sub-region.

The General Assembly and Executive Committee of WAICA comprises the President, Vice-President, 5 representatives from Nigeria, 3 representatives from Ghana, 2 representatives each from the Gambia, Sierra Leone and Liberia, and an Immediate Past President. It runs a Secretariat, headed by a Secretary General.

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