The Managing Director, Consolidated Hallmark Insurance Plc, Mr. Eddie Efekoha, has said the firm is rewarding the overall winner of the 2015 Annual Essay competition for Tertiary Institutions with instant employment in the company.
He said this while presenting the first three winners of the competition with prizes in Lagos. Efekoha said the company was keeping to its promise of rewarding the first prize winner with automatic employment and cash prizes every year.
He said “the winners from the previous competitions that were given employment in the company have continued to excel at work.
The managing director said the company was using the competition, now in its fifth year, to promote insurance awareness and increase students’ interest in pursuing a career in insurance.
A female student from The Polytechnic, Ibadan, Florence Ogunleye, emerged the overall winner and was presented with N250,000 and automatic employment.
Two students from University of Uyo, Julius Olabiyi and Esekwe Ifeanyichukwu came second and third, winning cash prizes of N150,000 and N100,000 respectively.
The Director General of the Chartered Insurance Institute of Nigeria, Alhaji Kola Ahmed said at the ceremony That as part of its collaboration with Consolidated Hallmark, the institute will publish the essays of the winners in its next journal.
The event was also attended by The National Insurance Commission (NAICOM) Director, Research and IT, Adamu Balanti, who congratulated the company for instituting the essay and award and appeal to other insurance companies o emulate and incept similar initiatives.
He said the industry is in need of trained actuaries in the industry because of the significant role they play in risk management. He congratulated the participants and recipients of the award and he advice that they should use the award as the first step in becoming insurance professionals and professional actuaries,
Balanti said to develop and promote insurance education in Nigeria, NAICOM has been running a program in the last few years to assist tertiary institutions. For the first phase, NAICOM selected two institutions from each of the six geo-political zones. The assistance is by way of providing ICT\research entries, providing insurance and insurance related books, and provision of scholarships for insurance department lecturers to study insurance or insurance related programs at the masters or PHD levels.
According to him, the commission is developing a policy road map for the development of professional actuaries for Nigeria. Currently written input and recommendations are being received from various stakeholders including practitioners, academia, actuarial firms, international actuarial associations etc, some of the ideas being considered include; bursary support for actuarial science students; assistance to institutions having actuarial science department , collaboration with insurance institutions in the area of sponsoring actuarial professional development; giving opportunity for internship, creation of actuarial department\unit employment of actuaries, etc.