SA Insurance appoints Bode Akinboye as GMD/CEO

Spurred by a corporate need to make Standard Alliance Insurance Plc a dominant player in the nation’s financial services sector, the board of the insurance company has appointed Bode Akinboye, an accomplished chartered accountant, veteran insurance practitioner and financial services professional, as the company’s group managing director/chief executive officer with a responsibility to pilot the company’s new focus and transformation programme.

According to a statement by the company, part of the board’s new goals are to “evolve the company into a composite underwriter, aggressively grow its market-share, run a more responsive claims administration policy, sustain profitability and dividend returns to shareholders and to make the organisation a more exciting place to its varied publics to partner with.”

The statement said the board was convinced that the new helmsman would deliver on the new goals as he did in his earlier 13-year tenure with the company during which he worked very hard to list Standard Alliance Insurance Plc on the Nigerian Stock Exchange.

It noted further that Akinboye also achieved consistent top line and bottom line growth coupled with dividends payment to shareholders and facilitated foreign direct investments of about USD$20 million to the organisation before leaving in 2009 to set up a private equity outfit.

The new chief executive officer has assumed office after leading his private firm’s affiliate establishment, Gemrock Management Company Limited, to acquire strategic stake in the underwriting company in December 2014.

According to the statement, the aspect of the investment into the company was still being cleared from the appropriate regulators.

It stated that Akinboye has already commenced steps to put the organisation on the fast lane of not only meeting but surpassing the board’s expectations.