NCRIB Commiserates with IGI, NIA over Olowude’s death

The Nigerian Council of Registered Insurance Brokers (NCRIB) has described the death of the Executive Vice Chairman of Industrial and General Insurance Plc (IGI) as a colossal loss to the Nigeria insurance industry and entire nation at large.

A statement by Assistant Manager NCRIB Dele Ayeleso, said the council in a condolence letter to the Chairman of  IGI, General Yakubu Gowon, the President of the NCRIB , Ayodapo Shoderu, noted that the council identified with the immediate family members of Late Olowude, management and staff of his company at this moment of grief.

According to the letter, Shoderu said, ‘definitely, the exit of Olowude signals the close of a chapter in the history of the reformation of the insurance industry in Nigeria, considering his pivotal roles in giving the industry a new look through founding of IGI Plc.

Shoderu opined that Olowude’s frankness, resourcefulness and love for insurance industry were legendary and would be sorely missed for a long time to come. ‘’Our council identifies with Directors, Management and Staff of IGI as well as NIA and its members at this moment of grief as we pray the good Lord to grant the deceased’s family members and the entire membership of NIA the fortitude to bear the painful loss’’ he noted.  

Olowude was renowned for his wealth of knowledge about the industry as well as innovativeness, demonstrated in the operations of IGI during its founding; creating a leeway for a more pro- active and aggressive market oriented insurance industry.