FBS Re appoints Ganiyu Musa MD/CEO

…as Fola Daniel, founding MD/CEO becomes non-executive director

FBS Re, a fast-growing Nigerian reinsurance company has announced the appointment of Ganiyu Musa, as the new managing director/CEO of the company, taking over from Fola Daniel, the founding MD/CEO, who now joins the board as non-executive director.

Announcing the changes in its Board and senior management team, the company said this would reflect a new chapter in its repositioning for enhanced services, noting that all changes have received no objections and approval from the National Insurance Commission (NAICOM).

The reinsurer, FBS Re expresses its deepest gratitude to Fola Daniel, the company’s founding CEO, for his visionary leadership and dedication. Under his sterling stewardship, FBS Re earned a Gross Written Premium of over N33 billion within only three years of operations.

As Fola steps down from his executive role, we are excited to welcome Ganiyu Musa as the new managing director/CEO of FBS Re, the Company said in a statement Tuesday.

Read also: FBS Reinsurance grows gross written premium by 110%

Ganiyu, it is noted brings his wealth of cognate experience and will introduce a fresh perspective to FBS Re. With a proven track record of over several decades in the leadership of insurance, reinsurance, audit, and consulting institutions, he is poised to lead FBS Re to its next phase of innovation and market expansion.

Ganiyu’s strategic vision aligns perfectly with FBS Re’s commitment to providing exceptional Reinsurance solutions to clients in Nigeria and across Africa..

Alongside the CEO transition is Steve Kyerematen’s retirement from the position of Chief Operating Officer role. Steve and Fola, as founding executives, have jointly been instrumental in shaping FBS Re’s operational excellence and driving its record growth.

Also, in line with FBS Re’s philosophy of nurturing talent from within, it is proud to announce Shola Ajibade’s promotion and appointment to the position of executive director (Technical). Shola has demonstrated exceptional technical expertise and a deep understanding of Nigerian and African Reinsurance markets. In his new role, Shola will continue driving operations & business development and helping FBS Re achieve its strategic marketing objectives.

Bala Zakariyau, chairman of the Board of Directors, expressed the Board’s appreciation for Fola and Steve and welcomed them to their new positions as non-executive directors. The Board looks forward to their continued guidance to the company.

At the same time, he warmly welcomed Ganiyu Musa as the new MD/CEO and is confident that his experience and track record would propel FBS Re to greater heights.