Law Union & Rock Insurance Gets New MD

The Board of Directors of Law Union & Rock Insurance Plc, one of the non-life risks underwriting companies in the country has named Mr. AkinjideOrimolade as the new Managing Director (MD) of the company.

Chairman of the board, Princes AdenikeAdeniran, said his appointment is expected to fast track and further deepen the ongoing rejuvenation and turnaround of the company.

Orimolade was immediate past Managing Director of AIICO General Insurance Company Limited.

With over 22 years experience in the insurance marketing, general underwriting and claims administration, Orimolade is a Fellow of the Chartered Institute of Insurance of Nigeria (CIIN). He holds B.Sc. and MBA in Insurance and Marketing respectively from the University of Lagos.

Before the appointment, Orimolade was Executive Director, Marketing at AIICO Insurance Plc before he was appointed Managing Director AIICO General Insurance subsidiary of AIICO Insurance Plc.

Prior to joining AIICO, Orimolade was Regional Director, West Africa at Liberty Life, South Africa and General Manager and later Chief Executive Officer of Zenith General Insurance Limited.

Since the takeover of Law Union & Rock Insurance Plc’s majority interest in 2012, the board and management have been revamped. The company is said to be better positioned for excellence, enhanced growth and better financial performance.

The turnaround of the company has yielded improvements in its corporate governance, risk management, investment portfolio and higher level of trust as a result of the seamlessly and promptly settlement of claims.

Law Union prides itself as having engaged the service of professionals and high calibre people on its board to strategically guide the company and ensure its management remains effective.

It also had in place governance committee responsible for reviewing and reporting to the board on matters of corporate governance and board composition.

The insurer said it is committed to strongly consolidate on the gains of the past with renewed vigour in the execution of our corporate strategy and strategic initiatives. We will not relent on our efforts towards ensuring high quality customer service.

And in furtherance with its retail business strategy, the company expanded its distribution channels making it possible for anyone to buy the company’s products especially motor insurance product from any part of the country, she said.

Also in recognition of the huge population of uninsured Nigerians, the firm said it would make its micro-insurance products available to low income earners across the country using its agency workforce.”