Founded in 1959 by Article of Association and Memorandum, the Institute was known and referred to as Insurance Institute of Nigeria until February 26, 1993 when it became chartered vide Decree (Now Act) No 22 of the Federal Republic of Nigeria.
Upon establishment in 1959, the Institute became the rallying point for Insurance practitioners in Nigeria comprising a few expatriates and their Nigerian counterparts whose pioneering efforts provided the building blocks for what has now become a veritable force in the Nation’s Financial Services Industry and the Economy at large.
The Institute was affiliated to the Chartered Insurance Institute (CII), London in 1960 for reasons bordering on the need to model its operations after the London institute which then produced the bulk of Insurance professionals whose expertise were indispensable in shaping the face of professional practice in the early days.
To remain a world class professional body committed to the provision of an efficient and
effective manpower for the Insurance industry.
To provide a world class manpower with the highest standard of professional and ethical
training for operating effectively and efficiently in the Nigerian and International business environment.
The General Duty of the Institute
The Chartered Insurance Institute of Nigeria (CIIN) is charged with the general duty of
determining the standards of knowledge and skills to be attained by persons seeking to become registered
members of the Insurance profession in Nigeria and reviewing those standards from time to time as circumstances may permit
(Decree (Act) No 22 of 1993 Section 1 (1) (A)).
Goals and Objectives
The goals and objectives of the Institute are:
— Promoting insurance education through the following means:
a. Conducting professional and certificate examinations for the purpose of registering eligible persons as Insurance Practitioners.
b. Organizing Conferences, workshops, seminars and Courses on insurance and related subjects.
c. Encouraging and assisting insurance professionals to regularly update their knowledge in order to respond positively to changes in
the business environment and meet the challenging needs of their clients.
d. Producing publications on insurance and related subject.
e. Providing and maintaining libraries and study centres comprising books and publications for the advancement of the knowledge of insurance.
— Promoting the general development of insurance by conducting, encouraging and assisting in the conduct of research into insurance and
allied subjects with special emphasis on local practices, laws and conditions.
— Upholding and encouraging members to adhere strictly to the observance of the industry’s codes of
conduct and ethics for a healthy practice of the insurance profession.
— Promoting social networking amongst members through various social activities like the annual dinner, picnic, sports etc.
The Governing Council
The Governing Council makes policy decisions which cover all spheres of the Institute’s operations.
This responsibility is facilitated by committees of Council which meet regularly and report their decisions for ratification by Council.
The Institute is continually repositioning itself for the production of an excelling workforce for the Insurance Industry in Nigeria.