NATIONAL NEWS
MOROVIA – The National Insurance Corporation of Liberia (NICOL) has concluded a successful participation in the 20th Annual International Insurance Seminar organized by Ghana Reinsurance Company PLC and held at Aqua Safari Resort from February 22 to 28, 2026.
The NICOL delegation was led by Acting Director General Abdullah S. Swaray, who represented the Corporation throughout the week-long professional training and engagement program.
By: Sampson W Weah – sampsonwweah7@gmail.com
Held under the theme “Advanced Property Insurance Underwriting and Claims Management,” the seminar brought together more than 100 insurance practitioners from 12 African countries — Liberia, Ghana, Gabon, Ethiopia, Sudan, Togo, Zambia, Kenya, Rwanda, Malawi, Namibia, and Cameroon.
Participants engaged in intensive technical sessions, practical case studies, and high-level panel discussions focusing on property risk assessment, premium pricing, loss control strategies, and efficient claims administration. Special emphasis was placed on emerging risks, catastrophe exposure, and the application of modern underwriting tools to enhance industry resilience.
Speaking at the close of the seminar, Mr. Swaray described NICOL’s participation as both timely and aligned with the Corporation’s ongoing reform agenda.
“The knowledge and experience gained from this seminar will directly improve our underwriting discipline, enhance the accuracy of our risk pricing, and strengthen our claims settlement processes,” Mr. Swaray said.
“We are committed to applying these lessons to ensure that NICOL operates in line with international best practices and delivers improved services to the Liberian people.”
He noted that NICOL’s presence at the forum forms part of a broader strategy to modernize the Corporation and restore public confidence in Liberia’s national insurance system.
“A strong and credible insurance industry is vital to national development. NICOL must be positioned to protect both public and private assets while contributing meaningfully to economic growth,” he added.
Established as Liberia’s state-owned insurer, NICOL provides insurance coverage for government institutions and the wider public while supporting the growth of the domestic insurance market. Over the years, the Corporation has played a central role in underwriting public assets, promoting risk awareness, and contributing to state revenue generation.
In recent years, NICOL has embarked on institutional reforms aimed at strengthening governance, enhancing technical capacity, and expanding its product portfolio.
Founded in 1972, Ghana Re is one of Africa’s leading reinsurance institutions and has long served as a technical and financial backbone for national insurers across the continent. Its annual international seminar has evolved into a premier training platform for African insurance professionals, offering continuous development in underwriting, reinsurance, and claims management.
NICOL has maintained a longstanding professional relationship with Ghana Re through reinsurance placements, technical support, and staff development initiatives. Officials say the 2026 seminar further deepened this partnership and reaffirmed Liberia’s commitment to regional insurance cooperation.
Beyond technical training, the seminar also provided a platform for regional networking and professional exchange. The NICOL delegation held bilateral discussions with representatives of several insurance and reinsurance firms on potential areas of collaboration, including staff training, product development, and risk-sharing arrangements.
According to the Acting Director General, the strengthened partnership is expected to create new opportunities for technical cooperation and improved access to regional reinsurance support — particularly in managing large property risks and public infrastructure insurance.
As Liberia’s state-owned insurer, NICOL says it remains committed to professional excellence, regional collaboration, and sustainable growth as it works to build a resilient insurance industry capable of safeguarding national assets and supporting the country’s development agenda.
