‎International Energy Insurance Plc (“IEI) announced that Olasupo Sogelola has stepped down from his role as Managing Director/Chief Executive Officer.
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The resignation took effect from 12 November 2025. Under Mr. Sogelola’s stewardship, IEI Plc recorded significant achievements that underscored its turnaround story and renewed strength. His tenure marked a remarkable chapter in the company’s history, defined by growth, resilience, and strategic progress.
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In his stead, the Board of IEI Plc has appointed Dr. Joyce Odiachi as Acting Managing Director, pending the appointment of a substantive Managing Director/CEO for the Company.
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A multi-talented professional with proven expertise in strategic business process transformation, Dr. Joyce M. Odiachi (Ph.D.; FIIN; FRMN) brings over two decades of crossfunctional depth in risk management, compliance, technical operations, relationship management, and corporate leadership. Her career is distinguished by a consistent track record of strengthening operational frameworks, enhancing governance systems, and driving performance-led transformation within complex insurance environments. Renowned for her strategic clarity and technical sophistication, she has been instrumental in enabling organizational turnarounds and elevating professional standards across the industry.
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She has served in various senior management roles within the insurance industry, bringing a wealth of expertise and strategic insight that will ensure continuity and stability during this transition period at IEI Plc.
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Notably, in the last few years, the company successfully relisted on the Nigerian Exchange (NGX), signalling restored investor confidence and compliance with market standards.
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The Company also achieved the full exit of the Daewoo loan, a major milestone in its financial restructuring journey, paving the way for a healthier balance sheet and sustainable operations.
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In addition, the company is actively preparing for its recapitalisation programme, with plans underway for an ambitious ₦22 billion capital raise, reinforcing its commitment to growth and market leadership.
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These strides have been made possible under the flagship of the Norrenberger Financial Group, IEI Plc’s parent company and major stakeholder, whose strategic support has been instrumental in driving innovation, operational efficiency, and long-term value creation.
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IEI Plc’s transformation has not gone unnoticed in the marketplace. The company has earned industry recognition through multiple awards for excellence in service delivery and corporate governance, further cementing its reputation as a trusted, forward-thinking and future ready insurer.
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