September 25, 2013/Press Release
The Board of AIICO Insurance Plc, a leading provider of Insurance solutions in a Press Release announced the elevation of Mr. David Sobanjo as Non-Executive Director of AIICO Insurance Plc whilst Mr. Edwin Igbiti takes over the role of the Acting Managing Director.
Mr. Sobanjo was until his recent elevation, the Managing Director/Chief Executive Officer of the company; and he served in this capacity for seven years.
The Acting Managing Director, Mr. Edwin Igbiti has served in various capacities within the insurance industry, covering claims management, underwriting and sales. He joined AIICO as Deputy Manager and rose through the ranks to become the General Manager, Non-Life and Technical Operations, until his new appointment.
Mr. Igbiti is an Alumnus of Howard Business School, Maryland, USA as well as the University of Lagos. He holds an MBA from the University of Ado Ekiti and is a Fellow of the Chartered Insurance Institute of Nigeria (CIIN), an Associate member of the Chartered Insurance Institute of London (ACII) as well as the Nigerian Institute of Management (Chartered) (AMNIM). He is a seasoned practitioner and has attended several national and international courses on Risk Management, Reinsurance and Claims Administration.
As part of the ongoing restructuring exercise, some long serving top management staff have also been retired: General Manager, Life, Mr. Festus Olabiyi; Company Secretary, Mr. Samuel Oduroye and the Chief Finance Officer, Mr. Olalekan Otusanya. These officers have been commended for their immense contributions to the organization during their tenures in office.
AIICO Insurance Plc is the largest Life Insurer in Nigeria and has grown its Non-life business significantly in recent years, to become one of the major players in its market segment and strongly affiliated to Chartis Group, Zurich Insurance, Munich, Swiss Re, amongst other reputable industry players.