There was a change of baton of leadership in Law Union & Rock Insurance Plc recently as the board of Directors last week announced the approval and appointment of Mr Akinjide Orimolade as the new managing director/chief executive officer of the company.
According to the company, the appointment, which took effect from October 22, was informed by an urgent need to deepen the ongoing rejuvenation and turnaround of the company.
He took over from the former Managing Director and Chief Executive Officer, Mrs. Toyin Ogunseye.
A former Managing Director of AIICO General Insurance, Orimolade is a fellow of the Chartered Institute of Insurance of Nigeria with over 22 years of experience in insurance marketing, general underwriting and claims administration.
The firm said he is well grounded in strategy development and implementation, corporate operations ranging from human resource management, administration and business development with proven leadership prowess.
He holds bachelors and masters degrees in insurance and marketing, respectively from the University of Lagos, Nigeria.
In his career sojourn at AIICO, Orimolade had served as Executive Director, Marketing (January 2012 to August 2013), Managing Director/Chief Executive Officer of AIICO General Insurance Company Limited (December 2009 to December 2011).
He was Regional Director, West Africa at Liberty Life, South Africa (April 2008 – December 2009).
He also served as pioneer General Manager and later Chief Executive Officer of Zenith General Insurance Limited from March 2004 to March 2008.
Since the takeover of Law Union & Rock Insurance’ majority interest in 2012, the board and management have been revamped.
Law Union said the company was better positioned for excellence, enhanced growth and better financial performance.
It stated that the turnaround of Law Union & Rock was gaining traction as drastic improvements are seen in corporate governance, risk management, investment portfolio and higher level of trust in the company as claims were paid seamlessly and promptly.
The firm said Orimolade’s appointment was subject to approval by relevant regulatory bodies.