Why FBS Re announced key senior management and board changes.

• Nigerian reinsurance company FSB Re has announced key senior management positions
• The company also announced the retirement of its founder, Fola Daniel, from its Board
• The company disclosed that all the new appoints have been approved by the Nigeria Insurance Commission (NAICOM)

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

FBS Re, a fast-growing Nigerian Reinsurance company, has announced significant changes to its Board and senior management team. The changes reflect a new chapter in its repositioning for enhanced services.

All changes have received no objections and approval from the National Insurance Commission (NAICOM).

FSB Re announces key appointments as NAICOM approves Credit: Thomas Barwick
Source: Getty Images

Retirement of Pioneer CEO and Appointment of New CEO.

FBS Re thanked Fola Daniel, the company's founding CEO, for his visionary leadership and dedication. 

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Under his stewardship, FBS Re earned a Gross Written Premium of over N33 billion naira IN three years.

The Board of Directors also announced Ganiyu Musa's appointment as the company’s new Managing Director/Chief Executive Officer.

Ganiyu brings his wealth of experience and is expected to introduce a fresh perspective to FBS Re. 

With a proven track record of over several decades in the insurance industry, reinsurance, audit, and consulting institutions, he is primed to lead FBS Re to its next innovation and market expansion phase.

Ganiyu's strategic vision aligns perfectly with FBS Re's commitment to providing exceptional Reinsurance solutions to clients in Nigeria and across Africa.

Retirement of COO and promotion 

The Board also announced Steve Kyerematen's retirement from the Chief Operating Officer role. Steve and Fola, as founding executives, have been instrumental in shaping FBS Re’s operational excellence and driving its record growth.

Also, in line with FBS Re’s philosophy of talent nurturing, it announced Shola Ajibade's promotion and appointment to Executive Director (Technical). 

Shola has demonstrated exceptional technical expertise and a deep understanding of Nigerian and African Reinsurance markets.

In his new role, Shola will continue driving operations & business development and helping FBS Re achieve its strategic marketing objectives.

Chairman’s Statement on the changes.

Bala Zakariyau, Chairman of the Board of Directors, expressed the Board's appreciation for Fola and Steve and welcomed them to their new positions as non-executive directors.

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Source: Legit.ng