After 30 years of a working career spanning the legal profession and the insurance industry, Owolabi Salami, the Chief Operating Officer/Executive Director at Allianz Nigeria Insurance Plc, has retired to pursue his other dreams.
His retirement letter was eventually accepted by Board of Directors of Allianz Nigeria Insurance on Friday.
Salami who confirmed the development to BusinessDay last night said he was leaving to venture into hospitality, music management and market management.
“I am 52 years old now, and having worked for 30 years, I think it’s time I go and build my own business,” he said.
He said he was already discussing with private equity firms to raise an estimated $20 million to invest in the music industry.
“I am already discussing with some private equity investors for the music industry and they have shown a lot of interest,” Salami said.
According to him, he was going to pursue an educational programme in music after which he would kick-start the business.
Salami would be remembered for building successful companies in insurance industry, having come from a legal background.
He would as well be remembered for attracting one of the largest global insurance investors, Allianz, into Nigeria.
Owolabi Salami started his insurance career with Industrial and General Insurance Plc, from where he joined AXA Mansard Insurance Plc where he was Divisional Head, Retail Sales.
He later joined AIICO Insurance Plc as Deputy Managing Director/Chief Client Officer. He worked with ARM Life Plc as Chief Responsibility Officer/Executive Director before joining Allianz Nigeria Insurance Plc.
He obtained a Bachelor of Law (LLB) degree from the University of Buckingham, UK, and was called to the Bar at the Nigeria Law School in 1990.
