NIC, CIIG back Insurance Retirees Forum to strengthen industry standards

The Chairman of the Interim Advisory Council of the Insurance Retirees Forum of Ghana (IRFG), Peter Osei-Duah, has urged young insurance professionals to listen, learn, and lead with humility.

The former Managing Director of SIC Insurance PLC made this call during the launch of the Insurance Retirees Forum of Ghana (IRFG) at a ceremony held in Accra on Wednesday, February 18, 2026.

The Ghanaian insurance industry, led by Dr Abiba Zakariah, the Acting Commissioner of Insurance, has taken a decisive step toward preserving institutional memory and strengthening professional standards by leveraging the expertise and experience of veteran insurance practitioners.

The Interim Advisory Council swearing-in ceremony was administered by Naa Shormeh Gyang (Esq). During the inauguration, the Commissioner urged council members to uphold and reinforce the ethical and professional “golden rules” that defined their careers while encouraging retirees to support the council in every possible way.

Members of the Interim Advisory Council include retirees Peter Osei-Duah (Chairman), Ivan Avereyireh, Kofi Ampaw, Dr. Mrs. Francisca Karikari, Bonahopas Arkhurst, and Frank Oppong Yeboah. Other representatives from industry bodies include Stella Jonah (NIC), Ernest Frimpong (Ghana Insurance University), and Elsy Adadey (CIIG).

In his acceptance remarks, Peter Osei-Duah described the launch as more than a ceremonial event, calling it “a statement of values.”

He emphasised that an industry that forgets its builders risks losing its soul, stressing that the IRFG is not a charity organization but an investment in people, professionalism, and the long-term stability of the insurance sector.

He commended the NIC, the Chartered Insurance Institute of Ghana (CIIG), and other industry stakeholders for their vision and urged retirees to view their legacy as an ongoing journey, not a destination.

He also challenged young professionals to uphold ethical standards and professionalism, noting that the insurance profession hinges on integrity.

In her keynote remarks, Dr Abiba Zakariah explained that the initiative aligns with the core developmental agenda of the National Insurance Commission (NIC) in strengthening and growing the insurance industry.

She noted that the gathering aimed to collectively find solutions to industry challenges, reinforce ethics, and position retirees as mentors to younger professionals.

Dr Zakariah announced plans to establish a structured platform to harness the knowledge and experience of retired practitioners, integrate them into strategic planning processes, and ensure their expertise continues to shape the sector’s future.

She also revealed plans to create a fund dedicated to retirees while encouraging the renewal of old professional relationships and the building of new ones.

The forum brought together retired insurance professionals, regulators, industry executives, and other stakeholders. The CIIG will drive the initiative in collaboration with key industry bodies.

CIIG President Solomon Lartey described the forum as “a long-overdue bridge between the rich heritage of our industry and its vibrant future.” He acknowledged the leadership of the NIC and the CIIG for making the inauguration a reality.

Lartey emphasised that the IRFG is strategically designed to ensure that retirement is not an exit from the industry, but an evolution of service.

He outlined key objectives of the forum, including mentorship and legacy transfer, technical advisory support for policy and standards review, welfare and wellness support for retirees, and the creation of a national professional networking platform across all segments of the insurance sector.

The launch of the Insurance Retirees Forum of Ghana marks a significant milestone in institutional continuity within the insurance sector, reinforcing a shared commitment to honoring the past while securing a stronger, more ethical future for the industry.