Wapic Insurance Appoints New Managing Director

The Board of Directors of Wapic Insurance Plc has appointed Mrs. Adeyinka Adekoya as the Managing Director/Chief Executive Officer of the company. They also approved the appointment of Mr. Rantimi Ogunleye as the Managing Director of Wapic Life Assurance Limited. The National Insurance Commission (NAICOM) has approved the appointment.

Adekoya, the company said, is a fellow of the Chartered Insurance Institute of Nigeria (FCII) and an Associate of the Chartered Insurance Institute, London (ACII). Mrs. Adekoya holds a B.Sc in Insurance and an MBA, both from the University of Lagos.

“She has over 25years experience in the insurance industry, of which over 20years has been at senior management levels. Immediately prior to her appointment, Mrs. Adekoya was General Manager and Head, Institutional Business Development at Cornerstone Insurance Plc. She was also the Deputy General Manager, Technical at Law Union & Rock Insurance of Nigeria Plc.

“Ogunleye is a qualified actuary and an Associate of the Chartered Insurance Institute of Nigeria. Mr. Ogunleye holds a B.Sc in Actuarial Science and an MBA, both from the University of Lagos. He also attended the Senior Management Programme (SMP) of the Pan African University (Lagos Business School). He has over 22 years’ experience in the insurance industry, of which over 10years has been at management levels. Prior to his appointment, Ogunleye was Head, Bancassurance Financial Institutions Channel at Mansard (now AxaMansard) Insurance Plc. He had also previously worked at Cornerstone Insurance Plc and Crusader Insurance (Nigeria) Plc,” the company said.

The Chairman, Board of Directors of Wapic Insurance Plc, Mr. Aigboje Aig-Imoukhuede said: “With the appointment of two first class insurance professionals who possess extensive experience and knowledge of the domestic market as CEOs of our life and general businesses, I am confident that Wapic is well positioned to deliver on its strategic goal of becoming a top 3 underwriter over the next five years.”

Wapic Insurance Plc was incorporated in 1958 and has evolved to become the parent of three insurance companies licensed to underwrite life classes of insurance in Nigeria and general classes of insurance in Nigeria and Ghana. Wapic Insurance Plc, is listed on the Nigerian Stock Exchange and has over 850,000 shareholders.