Presidency pledges support for insurance sector

President Goodluck Jonathan has said his administration is aware that insurance is an essential ingredient of economic growth and development of any country and will support the insurance sector in Nigeria.

Jonathan who said this on the occasion of his decoration as grand patron of West African Insurance Institute said that without insurance, companies and individuals would not be able to manage risk.

The President said that one of the major lessons of the economic turmoil in the recent past is the need for transparent, efficient and neutral government regulation of the financial services sector.