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Continental Reinsurance Plc Replaces Two Directors


By Modupe Gbadeyanka

Continental Reinsurance Plc has announced the replacement of two of its directors with effect from November 8, 2016.

The directors replaced by the company are Mrs Nadia Alaoui Fettah and Mr Merrick Wayne Oeschger.

They are to be replaced by Mr Ajibola Olusanya Ogunshola and Mr Emmanuel Brule as Non-Executive Directors of the company representing C-Re Holding Limited.

According to a statement issued by the company, it was disclosed that Mr Ogunshola holds a B.Sc. (Honours) degree in Mathematics from the University of Ibadan (1967) and became a Fellow of the Institute of Actuaries, United Kingdom in 1973, the first black African to become a Fellow of the Institute.

He was the representative of the Institute of Actuaries of the United Kingdom in Nigeria from 1973 to 1996 and a member of the International Association of Actuaries.

Mr Ogunshola began his career as a trainee Actuary with Eaglestar Insurance Company, London in 1967. He joined the National Insurance Corporation of Nigeria in 1972 as the first head of Life Division from where he joined Niger Insurance Company Limited (now Niger Insurance Plc) as Chief Executive, later Managing Director from 1974 to 1985, the first Nigerian to hold the position. He was Chairman and Managing Consultant of Ajibola Ogunshola & Company (Actuaries & Employee Benefit Consultants) from 1986 to 2004 and Chairman of Alexander Forbes Consulting Actuaries (Nigeria) Limited from 2005 to March 2015.

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Over the years, Mr Ogunshola has contributed to the development of many organizations. He was foundation President of the Nigeria Actuarial Society, 1982; Chairman of the Committee of Actuaries that gave actuarial advice to the United Nations Staff Pension Fund from 1987 to 2006; Chairman of the Board of Directors, The Punch Nigeria Ltd, 1987 – 2011; President of the Association of Pension Fund and Investment Managers (now Association of Pension Fund Managers), 2001 – 2003, a fellow of the Association in 2009 and received a lifetime achievement award in the same year; member, National Political Reform Conference, 2005; President, Newspapers Proprietors’ Association of Nigeria from 2007 to April 2011; member of the South-West delegation to the 2014 National Conference.

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Mr Ogunshola also served the Government and other Institutions in several capacities. He was Chairman of the Federal Government Technical Committee on the Review of the Nigerian Civil Service Pension Scheme (1988/1989), Chairman of the Presidential Committee on the Harmonization of the Public and Private Sector Pension Schemes (Nigeria), 2000; member, relief Committee for victims of the Asian Tsunami Disaster, 2005; Director, News Agency of Nigeria, 2009 – 2011; member, Federal Government Panel on Election Violence and Civil Disturbances, 2011; member, Academic Board of the College of Medicine, University of Lagos, 2006 – 2008; member, Executive Committee of the West African Insurance Companies’ Association, 1976 – 1982; member of the Governing Council of Nigerian Insurers’ Association, 1977 – 1985 and first Chairman of its statistical Committee.

Mr Ogunshola has to his credits several honours, prices and awards which include, amongst several others, Doctor of Science in Management (Honoris Causa) from Olabisi Onabanjo University; special media award for Commendable Management of a Media Organization by the Trustees of the Nigerian Media Merit Award; award for excellence by the Central Council of Ibadan Indigenes, 2001; Ba’rohin Ibadan Chieftaincy title from the Olubadan-in-Council), 2009 and NUJ (Oyo State) award for contribution to the growth of Journalism, 1991.

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On the part of Mr Emmanuel Brule, he is a graduate of Ecole Centrale de Paris. He has always operated in an international environment and held a number of senior executives’ roles with SCOR, a global Tier 1 reinsurance company (1997 – 2001) and American International Group (AIG) (2002 – 2015) in diverse functions and in various territories. He is currently Deputy Chief Executive Officer of Saham Finances and a member of Saham Group Executive Committee.

Mr Brule is an impactful C-Level Insurance Executive with significant and successful experience in growing profitable business and leading transformation of insurance operations across EMEA. He is recognized as a strategic leader and critical thinker, with a strong record of execution in multiple environments and cultures.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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