Nigeria Reinsurance Corporation appoints MD
Nigeria Reinsurance Corporation has announced the appointment of Akinsola Ale as the new Managing Director, following his confirmation by the National Insurance Commission (NAICOM) on August 31.
A statement from the corporation said the Board of Directors had forwarded his name to NAICOM as the nominee for the position, the sequel to a board meeting held on July 3, to conclude a selection process in line with its succession plan.
Before his appointment as Managing Director, Ale was the Executive Director, Technical Services, Nicon Insurance Limited, and briefly acted as the Managing Director/Chief Executive Officer of the firm. He was responsible for delivering the enterprise-wide charge of steering the company to the path of sustainability and success, and ensuring the overall objectives of the organisation are achieved.
His prudent management of financial resources and strong decision-making policies, coupled with his professional training over the years, as well as his ability to relate well with people of diverse backgrounds, will be major assets in propelling the Corporation to new heights.
A graduate of Insurance from the University of Lagos (1989) and an Associate of the Chartered Insurance Institute (ACII), London (1991), Akinsola has over 30 years of working experience in and outside the insurance industry with 25 years in top management positions. Five of those years have been as Managing Director/CEO in organisations operating in diverse sectors of the economy including integrated marketing communications, printing, and telecommunications Infrastructure Development. These exposures have broadened his knowledge base and made him a well-rounded executive.
As the pioneer Head of Marketing and Business Development at Sovereign Trust Insurance Company Plc, he developed market penetration skills for a new entrant into the industry and indices critical to the success of a new organisation with attendant short and medium to long term challenges
He was also the Divisional Head of Marketing and Operations at Royal Exchange Assurance (Nigeria) Plc for eight years, and played pivotal roles in its various turn-around and change management activities, to achieve optimal organizational performance through proper staff motivation and process management.
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