Sovereign Trust Insurance gets double honours

Managing Director STI, Wole Onaolapo

Chuks Udo Okonta

Sovereign Trust Insurance Plc has reiterated its commitment to full compliance with operational regulations through its effective Enterprise Risk Management, ERM frame work.

In recognition of the exemplary ERM framework that the organisation has put in place, Conrad Clark Nigeria Limited, an Enterprise Risk & Management Consultancy Firm recently honoured the underwriting firm and its Chief Risk Officer at the recently concluded 2013 Nigerian Risk Awards.

The company alongside its Chief Risk Officer, Mr. Sanni Oladimeji emerged the First Runner-up in the Organisational awards and individual awards categories respectively. The event was gracefully attended by captains of industries, risk management consultants, the media and members of the Public.

The major criterion for the organisational award as given by the Judges included, how risk management has contributed to the development of innovative approaches and the successful achievement of business objectives within the organisation while the Individual Award is in recognition of the individual who has the aspiration, inspiration, and enthusiasm to promote and support enterprise risk management within their organization with demonstrable results.

According to the CEO of Conrad Clark Nigeria Limited, Joachim Adebayo Adenusi, the Nigerian Risk Awards was borne out of the passion to inspire our nation to minimize risk exposures in businesses, communities, transportation, health and well-being, governance, leadership, education, and infrastructures and begin to maximize the opportunities open to us as a nation. He conclusively stated that Conrad Clark set out to provide and support African nations, organizations and communities with the best risk and strategic change management solutions that will protect and preserve human lives, properties, assets, capital, environment and human capital resources necessary to compete globally.

While commenting, the Chief Risk Officer, Sanni Oladimeji thanked the Nigerian Risk Awards Team, Judges and Partners for the honour they have bestowed on the organization and him as an individual and promised that the company will not rest on its oars in ensuring that it upholds the effective ERM framework it has put in place. In his words, “We have taken this exercise as important as any other aspect of our business process and the business principle of the company will continue to be guided by the ERM Framework”.

It will be recalled that Sovereign Trust Insurance Plc was the first in the industry to fully adopt and implement the Enterprise Risk Management framework in line with the directive of the National Insurance Commission, NAICOM.