Nigeria Reinsurance Corporation Renames Akinsola Ale new managing director

Nigeria Reinsurance Corporation has announced the appointment of Akinsola Ale as the new managing director, following the confirmation by the National Insurance Commission (NAICOM) on August 31, 2020.

A statement by the firm said the Board of Directors had forwarded his name to NAICOM as the nominee for the position stemming from the board meeting held on July 3, 2020, which rounded off a thorough selection process in line with Nigeria Reinsurance Corporation’s succession plan.

Before his new appointment as Managing Director, Ale was Executive Director Technical Services of Nicon Insurance Limited and briefly acted as the Managing Director/Chief Executive Officer of the firm. He was responsible for delivering on the enterprise-wide charge of steering the company to the path of sustainability and success and ensuring that the overall objectives of the organisation.

His prudent management of financial resources and strong decision-making policies, coupled with his professional training over the years, as well as his ability to relate well with people of diverse backgrounds, will be major assets in propelling the Corporation to new heights.

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A graduate of Insurance from the University of Lagos (1989), and an Associate of the Chartered Insurance Institute (ACII), London (1991). Akinsola has over 30 years working experience in and outside the Insurance Industry with 25 years in top management positions.

Five of those years have been as Managing Director/CEO in Organisations operating in the diverse spectre of the economy ranging from Integrated Marketing Communications, Printing and Telecommunications Infrastructure Development. These challenges have broadened his knowledge base and made him a well-grounded Executive.

As pioneer Head of Marketing and Business Development at Sovereign Trust Insurance Company Ltd (now Plc), he developed market penetration skills for a new entrant in the Insurance Industry as well as all the indices critical to the success of a new organisation with the attendant challenges both in the short term as well as the medium/long term.