By Dipo Olowookere
The board of Law Union and Rock Insurance Plc has announced the appointment of Mr Ademayowa Adeduro as the new Managing Director/Chief Executive Officer.
However, a statement to the Nigerian Stock Exchange (NSE) yesterday disclosed that the appointment is subject to the approval of the National Insurance Commission (NAICOM), the industry regulator.
According to the statement, the decision to choose Mr Adeduro as the MD/CEO was taken at the meeting of the company’s board directors held on October 24, 2018.
“This is sequel to the expiration of the contract of appointment of its MD/CEO, Mr Akinjide Orimolade, on October 20, 2018, having led the company’s management successfully for four years,” the statement said.
Law Union and Rock Insurance revealed that Mr Adeduro is a core insurance practitioner with a Bachelor’s degree in Insurance from the University of Lagos (UNILAG) and Master’s degree in Marketing from the Obafemi Awolowo University (OAU), Ile Ife, Osun State.
A Fellow of the Institute of Chartered Accountants of Nigeria (ICÅN), Mr Adeduro is also an Associate Member of the Chartered Insurance Institute of Nigeria (CIIN) and the Nigerian Institute of Management (NIM).
With experience spanning over two decades in the financial industry of Nigeria, the MD Designate possesses core competencies in areas such as clients/ relationship management, Non-life re/insurance underwriting, marketing, product innovation and development, risk and claims management, leadership, motivation and mentoring, regulatory compliance, accounting and cost control, turnaround and change management, project.
His appointment, after due regulatory approval, is expected to consolidate significantly on the successes recorded by the company in the past half a decade.
