Institute wants N2bn insurance building completed

The Chartered Insurance Institute of Nigeria (CIIN), the training arm of the insurance industry, has called for support for its N2 billion building project, just as Consolidated Hallmark Insurance (CHI) has promised support, urging other insurers to do the same.

The GMD/CEO of CHI, Mr. Eddie Efekoha, who received the CIIN executives on Monday, said his firm would provide support despite the tough times.

Mr. Efekoha said, “Claims are piling up and businesses are not forthcoming in insurance because they too are going through tough times, hence could not insure and in all these. Companies must recapitalise to survive, hence our survival is paramount.

“So, we will look into it, after surviving. We can’t be too specific on the amount, but we will support the initiative.”

The project which was abandoned on Victoria Island, Lagos, is estimated to gulp N2bn by completion.

He appealed to other companies to support the CIIN building project to ensure that the education arm of the insurance industry has a good building it can call its own and generate revenue from it.

The President of CIIN, Sir Muftau Oyegunle, said his administration had to revisit the project which started 33 years ago, believing that it was a legacy of the insurance industry that must be supported by stakeholders.

He said members were tasked to raise funds and N200m was realised, but that it was not enough.