Regulatory approves substantive chief executive of Guinea Insurance Plc

The National Insurance Commission (NAICOM), regulator of the Nigerian insurance industry, has approved the appointment of Ademola A. Abidogun as the substantive Managing Director/Chief Executive Officer of Guinea Insurance Plc.

NAICOM’s approval came via a letter dated 8th November 2019, and captioned “Final Approval to Appoint Mr. Ademola A. Abidogun as the Substantive Managing Director/CEO of Guinea Insurance PLC.”

A statement by the Chairman of the Board of Directors of the company, Barr. Godson Ugochukwu, noted that “Mr. Abidogun brings to Guinea Insurance PLC, 24 years experience in providing strategic and operations leadership in uniquely challenging situations in the insurance industry.”

He is a seasoned professional with inestimable depth and wealth of technical experience acknowledged industry-wide. His combined expertise in marketing, insurance broking, underwriting/claims administration, oil and gas, banking, telecoms, reinsurance, product development, business risk advisory, special risks and strategic planning, offer a formidable springboard for relaunching the company’s propensity to act and hence, develop and implement sustainable plans for long-term growth and shareholder value creation.

Prior to his appointment, Ademola had championed the affairs of many companies in the insurance industry; the most recent being at Fin Insurance Company Limited, where he served as Executive Director, Technical/Operations and Acting Managing Director.

While at Cornerstone Insurance Plc, he pioneered the Bancassurance/Retail team as Assistant General Manager.

Abidogun holds a Master of Science degree in Business Administration from Rivers State College of Science and Technology (2007). He is an alumnus of the prestigious London and Lagos Business Schools as well as the University of Texas. As an erudite insurance professional, he has attended numerous management courses and seminars both locally and internationally.

In a related development, the 61st Annual General Meeting of the company will hold on Wednesday, November 20, 2019 in Uyo, Akwa Ibom State. At the meeting, Mr. Abidogun’s appointment as Managing Director/Chief Executive Officer will be ratified via a resolution of the shareholders of the company.