The West African Insurance Companies Association (WAICA) is set to gather industry leaders in Lagos this October for its 2025 Education Conference, with climate change risks taking center stage.
Climate Threats in Focus
Themed “The West African Insurer Facing Climate Change,” the conference will highlight how rising temperatures, floods, and droughts are reshaping the region’s economies and driving up insurance claims. Organizers say the meeting aims to design practical solutions for these mounting challenges.
“Climate change is striking harder and faster in West Africa,” said Ebelechukwu Nwachukwu, chair of the organizing committee, during a September 30 press briefing. “We must act now to safeguard communities and financial systems.”
Regional Vulnerabilities
Extreme weather already disrupts farming, damages infrastructure, and displaces thousands of families. Lagos has battled devastating floods, while Delta State and other regions face prolonged droughts. These events not only threaten livelihoods but also increase financial strain on insurers.
Summit Goals and Participation
The Nigerian Insurers Association will host the event, which brings together policymakers, regulators, and insurance firms from across Nigeria, Ghana, Liberia, Sierra Leone, and The Gambia. Discussions will center on:
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Innovative insurance products for climate risks
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Building regional resilience
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Protecting vulnerable populations and businesses
Keynote Voices
Speakers include Nigeria’s Minister of State for Finance, Dr. Doris Uzoka-Anite, and Wole Oshin of Custodian Investment Plc, who will deliver the lead paper. The lineup also features Ghana’s Dr. Abiba Zakaria, Sierra Leone’s Bockarie Kaloko, and Nigeria’s Insurance Commissioner, Olusegun Omosehin.
Beyond Profits
Nwachukwu stressed that while climate change creates new markets for insurers, the ultimate goal is protection.
“Our mission is not just about collecting premiums,” she said. “It’s about preparing for risks and ensuring communities survive the next disaster.”
Why It Matters
The 2025 WAICA conference arrives at a critical moment, as West Africa faces rising losses from weather-related disasters. By uniting regional players, the summit hopes to spark strategies that both protect people and strengthen the insurance industry.
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