By UMORU ABDULKADIR
The Board of Directors of AIICO Insurance Plc has appointed Mr. Olusola Ajayi as Executive Director of the Company.
According to the statement announcing the appointment, Ajayi’s appointment follows a successful assessment and due approval by the National Insurance Commission (NAICOM).
Ajayi who is an experienced business leader with over fifteen years’ leadership positions in management Consulting and Insurance in Nigeria as well as the United Kingdom joined AIICO as Head of Business Strategy and transformation teams in 2009 .
As leader of the retail insurance business, a position he assumed in 2013, he has led the transformation of the agency business by deploying cutting-edge solutions and enabling capabilities which has resulted in significant growth in the Company’s annual premiums and asset under management (AUD).
Prior to joining AIICO in 2009, he had worked at the prestigious consulting firm Accenture (Lagos), in the financial services market unit before joining Deloitte consulting (London, UK). Working in the capacity of Business Consultant in both firms, he led business initiatives in Strategy, Process Optimization and Technology Development.
In his new position as the Executive Director, he is expected to oversee the Group’s Retail Division with a mandate to drive growth across the group retail businesses while also retaining the company as an industry leader.
According to the statement, Ajayi, who currently serves as Chairman of the Board of AIICO Multi-shield Limited, the Group’s Health Maintenance Organisation (HMO), holds an MBA from INSEAD and a first degree in Chemical Engineering from the University of Lagos. He is a certified project manager as well as a Senior Member of the Chartered
Insurance Institute of Nigeria.
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