• Wednesday, February 21, 2024
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BusinessDay

Sovereign Trust beefs up strategy, corporate planning

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Underwriting firm, Sovereign Trust Insurance plc has announced the establishment of a new Department to be known as the Strategy & Corporate Planning Department under the leadership of the hitherto head of business development, Lanre Ojuola.

The development is in line with the maximization of Human Resources Policy of the company aimed at utilizing the potentials of its dynamic workforce in delivering optimal value to all stakeholders of the company, the company said.

Until recently, the strategy component of the company was under the watch of the Head of ICT & Strategy, Lekan Oguntunde, who now has the sole responsibility of discharging Information Communication Technology solutions for the company’s operations.

With the recent addition, the organization now has six strategic Departments reporting directly to the Managing Director/CEO namely: Internal Audit, Risk Management & Compliance, Corporate Communications & Brand Management, Information & Communications Technology, Human Resources and Strategy & Corporate Planning Departments respectively. As part of the recent reorganization, the former Head of Retail Business, Emmanuel Anikibe moves to head the Business Development Department while Victoria Eze, Senior Manager in the Brokers’ Department takes over as the new Head of Retail Business. The Executive Director/Chief Operating Officer, Samuel Ogbodu will provide oversight supervision for the Northern Operations headed by Mohammed Alfa.

In the same vein, the Managing Director/CEO, Wale Onaolapo said that the creation of the new Department was informed by the need for improved performance that will strategically position the company as a market leader while ensuring more profitability by increasing the company’s market share in the insurance industry and consequently impact on the fortunes of its esteemed shareholders.

Sovereign Trust Insurance will continually strive to achieve the business objectives, vision and mission of the company in order to remain a major pacesetter in the insurance industry in Nigeria and beyond, he said.

Segun Bankole, head of corporate communications and brand management stated that the company is committed to providing instructive leadership geared towards optimizing the operations of the company with a view to delivering service excellence. He further mentioned that in accelerating the next growth phase of the company, the exploitation of the under developed areas of the market must be maximized. In his words, “Lanre’s undeniable wealth of experience is a step forward in the right direction towards achieving the company’s strategic goals” he concluded.

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