Yared Mola, Chief Executive Officer of Nyala Insurance S.C. (NISCO) and President of the Association of Ethiopian Insurers (AEI), has been elected president of the African Insurance Organization (AIO). The announcement was made during the 51st AIO Conference and Annual General Assembly held from May 26 to 28, 2025, at the Addis Ababa Skylight Hotel, with a closing ceremony at Sheraton Addis.
The conference, themed “Balancing the Books: Africa’s Debt Problem. Why Does Country Debt Impact Insurers?”, attracted around two thousand participants from 93 countries across Africa, the Middle East, and Europe. Industry professionals, including insurance experts, financial analysts, policymakers, and technology innovators, gathered to discuss the challenges and opportunities facing Africa’s insurance sector.Yared Mola, who previously served as AIO Vice President following his election at the 50th AIO Conference in Windhoek, Namibia, received the presidential appointment from outgoing AIO president Patty Karuaihe-Martine of Namibia.
Upon his appointment, Yared expressed his gratitude and commitment to advancing the insurance industry across the continent.In his new role, Yared outlined three key priorities; increasing insurance penetration and inclusion, especially among underserved and vulnerable communities, through innovation, education, and collaboration to close Africa’s protection gap; enhancing regulatory convergence and professionalism by promoting effective governance, standardized regulatory frameworks, and strengthening institutional capacity across African nations and promoting innovation and digital transformation to improve efficiency, scalability, and relevance in a rapidly evolving global insurance landscape.
Yared is widely recognized for his visionary leadership and expertise, having been honored as CEO of the Year among African insurance leaders in 2019. With over 30 years of experience in the insurance sector, he is currently completing his doctorate at the Paris School of Business. His career is marked by strategic leadership, risk management, marketing development, and strong advocacy for sector-wide transformation and increased public awareness of insurance’s value.Founded in 1972 and headquartered in Yaoundé, Cameroon, the African Insurance Organization aims to foster sustainable insurance development and healthy competition among African countries. The 51st conference underscored the growing importance of the insurance sector in addressing Africa’s economic challenges, including the impact of sovereign debt on insurers.
