International Energy Insurance Plc (IEI) has announced a leadership transition following the resignation of its Managing Director/Chief Executive Officer, Olasupo Sogelola.

Sogelola’s exit marks the close of a pivotal chapter in the company’s transformation journey, during which IEI recorded notable gains, including its successful relisting on the Nigerian Exchange (NGX), full repayment and exit of the long-standing Daewoo loan, and renewed financial stability under the Norrenberger Financial Group.

Following his departure, the board has appointed Dr Joyce Odiachi as Acting Managing Director, pending the appointment of a substantive Chief Executive Officer.

Odiachi, a seasoned insurance executive and fellow of the Chartered Insurance Institute of Nigeria (CIIN), brings more than two decades of multi-sector experience spanning risk management, compliance, technical operations, and corporate governance.

She has earned industry recognition for her role in driving operational reform, strengthening governance systems, and supporting organisational turnaround efforts across the sector.

The insurer noted that Odiachi’s appointment is expected to provide continuity and stability as the insurer advances its next phase of growth, including preparations for a planned N22 billion recapitalisation programme aimed at deepening market competitiveness.

Under Norrenberger’s ownership, the company has strengthened operational efficiency and delivered improvements that have earned multiple industry awards for service excellence and corporate governance.