President John Mahama has appointed seasoned insurer and former Chief Operating Officer of WAICA Reinsurance Corporation, Dr. Abiba Zakariah as acting Commissioner of the National Insurance Commission (NIC).

This is what JOYBUSINESS has picked up from persons with knowledge of the appointment made by the President.

Dr. Zakariah, formally started work on Monday February 17, 2025, following her appointment last week.

She takes over from Michael Andoh who has been acting as Commissioner of NIC since April 2023.

About Dr.  Zakariah

Dr.  Zakariah has more than 20 years of experience in the insurance industry. 

She is also the founder and Managing Director of managing consulting firm, Strategist Consortium.

She resigned as Group Chief Operating Officer of WAICA Reinsurance Corporation in 2024. WAICA is owned by members of the West African Insurance Companies Association, with locations all over the world. 

Dr. Zakariah is a Chartered Insurer and a Fellow of the Chartered Insurance Institute of United Kingdom and the Institute of Risk Management Professionals of Ghana

She holds a BSc Hons. Degree, and an MBA from the University of Ghana, Legon.

She earned her PhD in Management Studies from the Swiss Management Centre.

Dr. Zakaria started her carrier at SIC, then State Insurance Corporation.

Challenges and focus

For some industry watchers, Dr. Zakariah’s immediate challenge is to deal with the insurance penetration challenge. She is expected to push for some fresh policy measures and offer incentives to insurance companies to deal with the challenges.

Some market players in recent times have been pushing for another review in the minimum capital requirement for insurance companies.