Dr. Aaron Issa Anafure, the CEO of Quality Life Assurance Company, has been invested as the President of the Association of Insurers and Reinsurers of Developing Countries (AIRDC). Dr. Anafure, one of Ghana’s most accomplished life insurance professionals – a past CEO of SIC Life, at the time the second largest life insurance company in the country, will serve as President of the association from 2022 to 2024.
The investiture ceremony took place on the last day of the three-day 22nd AIRDC conference held in Accra. The ceremony was witnessed by numerous Ghanaian and foreign dignitaries, including top insurance industry executives. They included Dr. Muhammed Ibn Chambas of the United Nations; Ghana’s Insurance Commissioner, Dr. Justice Yaw Ofori; and the Special Guest of Honour, His Majesty King Drolor Bosso Adamtey I. Others included the immediate past President of AIRDC, Mr. Yasser Albarhana as well as the incumbent Secretary-General, Mr. Januario Aliwalas; trustees, commissioners, executives and members of the association; and leaders of various insurance bodies, including past and present national commissioners of insurance.
In accepting the exalted position, Dr. Anafure assured that his biggest priority will be to push for professionalism by all insurance and reinsurance practitioners in the developing world. He stated: “There are time-tested standards that have guided decision-making. These standards serve as a compass collectively that aids the profession in difficult times. I intend to ensure that insurers uphold the core values of professionalism and integrity which serve as strong foundation for building resilience”.
Unsurprisingly, another priority of his presidency will be to increase insurance penetration across Africa from its current average of a mere 2.7 percent toward the global average of 7 percent. He told guests at his investiture that: “I see this as an opportunity for Africa to work hard at narrowing the gap of 5 percent. Importantly, it is an opportunity to work hard at lifting our people out of poverty, hunger and disease that have often characterised the narrative in the world about Africa”.
Toward this, Dr. Anafure plans to exploit the inroads made by AIRDC across the continent. Indeed, it has organised conferences several times on the continent in the past – including Kenya in 1982; Senegal in 1990; Egypt in both 1994 and 2006; Morocco in 1984; and Nigeria in 2002.
However, he assures that his focus will extend to all parts of the world where AIRDC has members. “I also intend to improve the presence of AIRDC on other continents and countries by establishing satellite offices in selected countries.”
Finally, Dr. Anafure announced his plans to focus on the youth as a means of expanding insurance penetration through AIRDC. “The world has a relatively young population, and it is important for the association to have initiatives and sub-organisations targetted at them,” he asserted. “This, coupled with the techno-savvy of this population, will largely assist in the pursuit of this objective.”
Under his presidency, he plans to introduce award schemes such as AIRDC Book Award, Most Enterprising Young Practitioner of the Year Award, and Insurance Legend of the Year to encourage full participation by insurance professionals.
Stakeholders left Accra after the three day conference optimistic that Dr. Anafure’s three year presidency will be very fruitful.
