Staco Insurance Plc has appointed a new acting Managing Director to enhance operational growth, following the death of former Managing Director, Wale Banmore.

In a statement released over the weekend, the company said the appointment has been approved by the National Insurance Commission (NAICOM), in line with regulatory requirements.

The new acting Managing Director, Nike Nihinlola, an insurance professional with nearly three decades of experience, currently serves as the Executive Director in charge of Technical and Operations in the organisation.

She is a fellow of the Chartered Insurance Institute of Nigeria (FIIN) and has held key roles in leading insurance firms, including Consolidated Hallmark Insurance and Great Nigeria Insurance.

Her appointment comes at a critical time for the company as it seeks to consolidate its position in a competitive market and strengthen operational efficiency.

Nihinlola holds a Bachelor of Arts degree from the University of Ibadan and a Master of Business Administration from Lagos State University.

She is a member of the Mandatory Continuous Professional Development (MCPD) Committee of the Chartered Insurance Institute of Nigeria (CIIN), and served as Chairperson of the Accident Officers Committee of the Nigerian Insurers Association (NIA) between 2014 and 2016.

She is also the Vice President of the Professional Insurance Ladies Association (PILA).