NAICOM Okays Igbiti as MD/CEO of Niger Insurance
By Modupe Gbadeyanka
The appointment of Mr Edwin Friday Igbiti as the substantive Managing Director/Chief Executive Officer of Niger Insurance Plc has been approved by the National Insurance Commission (NAICOM).
The insurance firm, in a statement to the Nigerian Stock Exchange (NSE), said the industry regulatory agency forwarded a letter to the company, confirming the approval of Mr Igbiti’s appointment.
“We are pleased to inform the Nigerian Stock Exchange, our shareholders and the investing public that the National Insurance Commission has approved the appointment of Mr Edwin Friday Igbiti as the substantive Managing Director/Chief Executive Officer of Niger Insurance Plc,” the notice said.
“We are pleased to welcome him on the board and we wish him a wonderful tenure,” the statement added.
Mr Edwin Igbiti was the immediate past Managing Director/Chief Executive Officer of AIICO Insurance Plc. He holds an MBA from the University of Ado-Ekiti and an Advanced Diploma in Management from the University of Lagos.
He is an Associate member of the Chartered Insurance Institute of London (ACII), a Chartered member of the Nigerian Institute of Management and a Fellow of the Chartered Insurance Institute of Nigeria (CIIN).
He is also a member of the Institute of Directors in Nigeria, a certified Business Continuity System Lead Auditor from the British Institute, UK and an alumnus of the Howard University Business School, USA.
He has worked in various capacities, including underwriting sales and claims management in the insurance industry. Before joining AIICO Insurance in 1992 as a Deputy Manager, he started out working t Phoenix Insurance Company as an underwriting trainee and rose to the position of Managing Director/CEO of AIICO in 2013 until his retirement in August 2019.
Niger Insurance Plc is an insurer in Nigeria transacting all classes of insurance business. The firm offers a wide range of innovative and customer-oriented insurance products in life and non-life insurance to its growing clients.
The company, listed on the Nigerian Stock Exchange (NSE), presently operates with an asset base in excess of N21 billion and a fully paid-up share capital of N3.868 billion, according to information o0n the company’s website.