Two Directors Quit Wapic Insurance Board

wapic insurance

By Dipo Olowookere

Two non-executive directors on the board of one of the leading underwriting companies in Nigeria, Wapic Insurance Plc, have left.

The two directors are Mr Bababode Osunkoya and Mrs Ifeyinwa Osime and the development was confirmed in a notice to the Nigerian Stock Exchange (NSE) on Friday.

The insurer explained that the two members of the board resigned their appointments from the organisation to enable them to focus on their new roles.

Recently, Mr Osunkoya was appointed as the new Chairman of Wapic Life Assurance Limited, while Mrs Osime was put on the same company’s board as an independent non-executive director.

“Wapic Insurance Plc hereby informs the Nigerian Stock Exchange (NSE) and the investing public of the resignation of Mr Bababode Osunkoya and Mrs Ifeyinwa Osime from the board of the company effective August 18, 2020.

“Mr Bababode Osunkoya was recently appointed as the Chairman board of directors of Wapic Life Assurance Limited where Mrs Ifeyinwa Osinme also serves as an independent non-executive director.

“These resignations are to enable both Mr Bababode Osunkoya and Mrs Ifeyinwa Osime adequately focus on their roles on the board of directors of Wapic Life Assurance Limited,” the statement signed by Ms Mary Agha, the company secretary, said.

In the disclosure, Wapic Insurance thanked the duo for their contributions to the growth of the company since they joined the board over six years ago.

“The board of directors and management of Wapic Insurance Plc express their appreciation to Mr Bababode Osunkoya and Mrs Ifeyinwa Osime for the invaluable commitment, experience and insight which they brought to the board deliberations,” the notice said.

While Mr Osunkoya was appointed to the board of Wapic Insurance Plc on January 1, 2013, and Mrs Osime joined on April 30, 2014, and according to the firm, they both “made strong contributions to the company in its strategic planning and growth.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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