Guardian

IN a bid to forge greater international strategic partnership, the Nigerian Council of Registered Insurance Brokers (NCRIB) has collaborated with the Strategy Institute of Canada in order to raise the knowledge power of its members.

During the 2013  international business visit to Toronto, Canada, the Council’s delegation, led by its President, Barrister Laide Osijo were taken through contemporary global dynamics in Captive and Corporate Insurance as well as oil and gas.

Speaking on the roles of captives and the place of insurance brokers within the arrangement, Mr William knocked the bottom off the notion that captives were to edge out insurance brokers, rather he opined that the practitioners were supposed to compliment the arrangement and in so doing ascribe to be ingenious in their delivery.

He said captives had become the norm in most corporate organizations in advanced countries of the world and that they were usually established as a cost saving institutions to increase corporate tax savings and provide high risk coverage.

In his address, the Managing Director of AON Morgan Insurance Managers, Mr Bill Morgan, expressed delight at the presence of the NCRIB delegation at the Strategy Institute summit and noted that the experience that was gained by the delegates would translate into their robust professional practice and consequently improve the insurance industry’s contributions to the nation’s Gross Domestic Product.