Over 250 insurers from across West Africa are set to converge in Lagos for the 2025 West Africa Insurance Companies Association (WAICA) Education Conference, where they will deliberate on the growing risks of climate change and how the industry can cushion its impact on regional economies.
According to new findings from the Intergovernmental Panel on Climate Change (IPCC) Report, Nigeria alone could lose as much as $460 billion by 2050 to the devastating effects of climate change. This alarming projection underscores the urgency of addressing the crisis and its implications for risk management across the sub-region.
The four-day conference, scheduled for October 12 to 15 in Lagos, will be held under the theme, “The West African Insurers in the Face of Climate Change.” Delegates from Nigeria, Ghana, Sierra Leone, Liberia, and The Gambia are expected to discuss how the insurance sector can serve as a buffer for the region against worsening economic shocks.
The Minister of State for Finance, Dr. Doris Uzoka-Anite, will deliver the keynote address, while the Commissioner for Insurance, Olusegun Omoshin, will serve as the chief host. Other confirmed speakers include leading regulators and industry executives from across West Africa.
Organisers have explained that the Lagos meeting will move beyond routine networking, aiming instead to chart concrete strategies for innovative insurance products, strengthened risk management, and enhanced regional collaboration.
Speaking at a press briefing in Lagos over the weekend, Chairperson of the Local Organising Committee and Chief Executive Officer of Rex Insurance Limited, Ebelechukwu Nwachukwu, stressed that flooding, agricultural losses, and other climate-induced risks have already caused significant damage across the sub-region, with serious consequences for livelihoods.
She emphasised the need for insurers and policymakers to work hand-in-hand to shield communities and national economies from the escalating dangers posed by climate change.
