SICL Re gets reinsurance brokerage license from NAICOM
SICL Reinsurance Brokers Limited (SICL RE) has become the latest entrant in the league of companies licensed to offer Reinsurance Brokerage services in Nigeria.
SICL Re is a subsidiary of Standard Insurance Consultants Limited (SICL), a leading insurance broker in Nigeria.
Ahmed Salawudeen, chairman and founder of the Company, who led the executive management were at the Abuja Head Office of the National Insurance Commission (NAICOM) last week to receive the operational license.
Sabiu Bello Abubakar, deputy commissioner for Insurance, Technical presented the license on behalf of the regulator.
As far back as 2021, in anticipation of regulatory approval for the commencement of operations, the company had employed a number of experienced Reinsurance professionals.
Read also: Third party motor insurance: Across West Africa you are covered – NIA
Presently, its bench of executive talent includes, but is not limited to, Oladipo Bolaji Zaheed, managing director, Femi Owolabi, deputy managing director, Bola Atoyebi, reinsurance manager, Augustine Ayi, chief operating officer, and Zainab Bakare, head of business development and legal advisor. In total, the management team have over 50 years of experience in the industry.
Expressing his delight at the Operational License approval, Salawudeen shared his vision for SICL RE:
“The key foundation of our Business is based on our core values namely trust, credibility, and professionalism. Our desire is to be the best in our line of business and the partner of choice to our clientele who seek solutions within the Reinsurance broking services space.”
He said SICL RE was born out of our belief that insurance companies in Nigeria deserve better deals in the Reinsurance space. We will deliver on our promises, he promised.