INSPENONLINE: Sovereign Trust makes Sammy Ogbudu Executive Director

Tuesday 11 September 2012

Sovereign Trust makes Sammy Ogbudu Executive Director

Sovereign Trust makes Sammy Ogbudu Executive Director

The Board of Directors, Sovereign Trust Insurance Plc has approved the appointment of Samuel Ogbodu, the erstwhile General Manager/Chief Operating Officer to the position of Executive Director with effect from September 1, 2012. With this appointment, Samuel Ogbodu now becomes a member of the Board alongside the Managing Director/Chief Executive Officer of the underwriting firm, Mr. Wale Onaolapo.

Until now, Samuel Ogbodu was the General Manager and Chief Operating Officer of the organisation having direct supervision for the Energy, Marketing and Relationship Management, Business Development, Corporate Services and Branch Operations Divisions respectively. At some point, he was also the General Manager, Branch Operations with office in the Federal Capital Territory. He was part of the pioneer management team when he joined the company in 1995 having moved from Law Union & Rock Insurance Plc.

He is a graduate of Insurance from the University of Lagos. He started his career in 1985 at Nigerian Life & Pensions Consultants before moving to Law Union & Rock Insurance Company Plc in 1989 where he rose to the position of Manager in charge of Special Risks and Client Services. He is an Associate of the Chartered Insurance Institute, London. He is also a Fellow of the Chartered Insurance Institute of Nigeria, CIIN. He holds an MBA with specialization in Marketing Management from the Lagos State University. He is an alumnus of the Lagos Business School having successfully completed the Advanced Management Programme, AMP, of the Institution. Sammy, as he is fondly called by colleagues has attended various technical, management and leadership courses both in Nigeria and Overseas in the course of his career.

The Chairman of the company, Chief (Dr.) Ephraim F. Faloughi in his congratulatory message to the newly appointed Executive Director urged him not to relent on his oars and particularly advised that he brings to bear his wealth of experience over the years in adding value to the Board of the company.

Undoubtedly, the Board of Sovereign Trust Insurance Plc is one of the most dynamic and forward-looking one in the insurance industry with an array of Chartered Professionals and National Merit Awardees who have excellently distinguished themselves in their different callings.

The company has consistently toed the path of growth since its establishment in 1995. The total assets have significantly grown from N47million in 1995 to over N7Billion in 2011. Sovereign Trust Insurance Plc will continue to deliver on its mission of enhancing the everyday life of its numerous customers through innovative insurance and financial services while creating exceptional value for its shareholders.

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Lawal is Inspen 2014 insurance man of the year

The former President Chartered Insurance Institute of Nigeria (CIIN) Fatai Lawal has emerged the 2014 Inspenonline Insurance Man of the year.

Fatai who is the the Managing Director Sterling Assurance Nigeria Limited was named today, at the Nigerian Insurance and Pension Award organised by Inspenonline.

Chief Executive Officer Inspenonline Media, Chuks Udo Okonta, said Lawal was picked from the votes casted by the public and other considerations made by the award's panel of assessors.

He noted that the winner raised the bar at the the Institute and the industry by opting to serve a tenure which was eventful and impactful. He added that amongst the legacies left by the winner was the printing and donation of Insurance books to secondary and tertiary institutions aimed at deepening insurance awareness.

Okonta noted that the award, which started two years ago with the recognition of two distinguished individuals and an underwriting company, has now come to stay.

"This year, we decided to raise the bar by setting high standards to judge the operations of companies and impacts made by individuals in moving insurance and pension business forward.

"To achieve this, we gave the public the opportunity to select those to be celebrated by calling for votes. Having harmonised the votes which came from different parts of the country, we benchmarked the scores with the set standard to arrive at the winners we are celebrating today," he said.

Others winners are AIICO Insurance Plc, Insurance company of the year; FUG Pensions Limited, Pension Fund Administrator of the Year; YOA Insurance Brokers Limited and Glanvill Enthoven Insurance Brokers Limited, Insurance Broker of the year.

Professional Excellence Award went to Professor Joe Irukwu; Best Professional Group went to the Chartered Insurance Institute of Nigeria and Association of Registered Insurance Agents of Nigeria; Corporate Brand went to Mansard Insurance Plc and Leadway Assurance Limited while Corporate Social Responsibility Award was won by Sovereign Trust Insurance Plc.

The organisers also recognised organisations that distinguished themselves, with Excellence Award. Organisations in this category include the National Pension Commission, Lagos State Pension Commission, Goldlink Insurance Plc and Pension Transition Administration Directorate.

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