AIICO Insurance announces appointment of Olusola Ajayi as ED

The Board of Directors (BOD) of AIICO Insurance Plc has appointed Mr Olusola Ajayi as Executive Director, following a successful assessment and due approval by the National Insurance Commission (NAICOM).

A statement released on Monday, in Lagos, and signed by Mr Segun Olalandu, Head, Strategic Marketing and Communications Department, AIICO, said,”Ajayi is an experienced business leader of over fifteen years.

“Ajayi has experience in leadership positions in management consulting and insurance in Nigeria and the United Kingdom.

“He joined AIICO in 2009 as head of the Business Strategy and Transformation teams.

“In 2013, Ajayi assumed leadership of the retail life insurance business, and has led the transformation of the agency business.

“He deployed cutting-edge solutions and enabling capabilities which has resulted in significant growth in the company’s annual premiums and asset under management (AUM).”

According to the statement, Ajayi, before joining AIICO, worked at Accenture (Lagos), in the Financial Services market unit, before joining Deloitte Consulting (London, UK).

“As a business consultant in both firms, he supported/led business transformation initiatives in Strategy, Process Optimization and Technology Deployments.

“In this new position, he will oversee the Group Retail Division, with a mandate to drive growth, across the group retail businesses and retaining AIICO as an industry leader,” it read.

The underwriter said Ajayi currently serves as Chairman of the Board of AIICO Multishield Limited, the Group’s Health Maintenance Organisation (HMO).

“He holds an MBA from INSEAD and obtained his first degree in Chemical Engineering from the University of Lagos.

“Ajayi is a certified Project Manager as well as a Senior Member of the Chartered Insurance Institute of Nigeria,’’ AIICO said.