SUNU Assurances Nigeria Plc has appointed Olayinka Adaramola as executive director, Technical Operations, marking a key leadership transition as the company intensifies its focus on operational efficiency and technical depth.
The appointment, effective April 1, 2026, follows the resignation of independent non-executive director, Olajumoke Bakare, and forms part of a broader board restructuring by the insurer.
Bakare exits after four years on the board, having joined in April 2022. During her tenure, she contributed to governance oversight and policy direction, serving across multiple board committees.
“The Board expresses its profound appreciation to Olajumoke Bakare for her dedicated service. Her contributions have been vital in strengthening our governance structures and refining our decision-making processes during a period of significant industry evolution,” the company said in a filing.
Adaramola steps into the role with more than two decades of experience in the insurance sector, bringing expertise across underwriting, claims management, and operational strategy.
SUNU Assurances said his appointment is aimed at strengthening its technical capabilities as the industry adjusts to ongoing recapitalisation and evolving regulatory requirements.
“Adaramola’s appointment is a strategic move to bolster our technical capacity. He combines deep-rooted technical expertise with academic excellence, making him the ideal candidate to lead our technical operations as we aim for greater efficiency,” the board noted.
Adaramola holds a Higher National Diploma in Insurance from Lagos State Polytechnic (1996) and an MBA in Marketing from Ladoke Akintola University of Technology (2009). He is also an Associate Member of the Chartered Insurance Institute of Nigeria.
He began his career in 1998 at Leadway Assurance Company Limited, focusing on General Accident underwriting and survey inspections. Prior to joining SUNU Assurances, he served as Executive Director, Technical Operations at Capital Express Indemnity Insurance Limited.
His appointment comes at a time when insurers in Nigeria are repositioning amid regulatory reforms and capital requirements, with firms seeking stronger technical leadership to remain competitive.
SUNU Assurances said it expects Adaramola to drive improvements in underwriting processes and claims efficiency—areas increasingly seen as critical to performance in the current financial year.
“As the insurance sector continues to evolve amid recapitalisation and regulatory reforms, our focus remains on operational excellence. This appointment reflects our commitment to meeting those challenges head-on with the best talent in the industry,” the company added.
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