From Ngozi Onyeakusi, Lagos
The Nigerian Council of Registered Insurance Brokers (NCRIB) has described the death of the Executive Vice Chairman of Industrial and General Insurance Plc (IGI) as a colossal loss to the Nigeria insurance industry and entire nation at large.
In a condolence letter to the Chairman of IGI, General Yakubu Gowon, the President of the NCRIB , Mr. Ayodapo Shoderu, noted that the council identified with the immediate family members of Late Olowude, management and staff of his company at this moment of grief.
According to the letter, Mr. Shoderu said, ‘definitely, the exit of Mr. Olowude signals the close of a chapter in the history of the reformation of the insurance industry in Nigeria, considering his pivotal roles in giving the industry a new look through founding of IGI Plc.
Shoderu opined that Olowude’s frankness, resourcefulness and love for insurance industry were legendary and would be sorely missed for a long time to come.
‘’Our council identifies with Directors, Management and Staff of IGI as well as NIA and its members at this moment of grief as we pray the good Lord to grant the deceased’s family members and the entire membership of NIA the fortitude to bear the painful loss’’ he noted.
IGI in a statement described Oluwude as visionary entrepreneur with remarkable patriotic zeal; Dr. Olowude was a self-driven achiever and business leader, who built a virile conglomerate with interests in insurance, banking, health management services, construction, and telecommunications services.
He was a frontline member of Corporate Nigeria and the immediate past Chairman of the Nigerian Insurers Association (NIA).
IGI Plc, which he founded in 1992, is a leading insurance company in Nigeria underwriting all classes of insurance business. IGI is also present in Uganda, Rwanda and The Gambia, with a representative office in London.
The Board and Management assure all stakeholders that we shall preserve the IGI legacy and vigorously pursue the dream and vision of the departed founder.
Dr. Olowude died on Saturday, 27th September, 2014 in a hospital in the United States, after a brief illness. He was aged 63. Condolence registers have been opened at his private residences, IGI Head Office in Lagos as well as other branches and subsidiaries inside and outside Nigeria.
Burial arrangements will be announced later by the family.