Earlier this week, Universal Insurance Plc announced the appointment of Mr Paulinus Oluchukwu Offorzor as the company’s new Executive Director, Technical. This was made known in a statement that was issued to the Nigerian Stock Exchange (NSE).
Below are a few things you should know about him.
His educational background
Offorzor studied Insurance at the Institute of Management and Technology (IMT) in Enugu, graduating in 1992. He also holds a Bachelors degree in Economics from the Imo State University in Owerri. In 2010, Offorzor graduated with a Master’s in Business Administration (MBA) from the Enugu State University Business School.
He is a Member of the Chartered Insurance Institute of Nigeria (ACII), Certified Pension Institute of Nigeria (CPIN), and Chartered Institute of Administration (CIA).
His career over the years
He began his career in 1995 by joining Intercontinental Assurance Co Limited. He has since then worked in many other insurances companies, including Generation Insurance Brokers Limited, where he was the General Manager. He finally joined Universal Insurance Plc as the Head of Technical and Enterprise Risks. He held this position until his current appointment.
Universal Insurance Plc was incorporated in 1961 by the then Eastern Nigeria Government; in partnership with Pearl Assurance Limited. Its shares closed at 50 kobo during yesterday’s trading on the NSE.
Universal Insurance Plc is unprofitable to investors without hope for future revamp. Their shares I bought since 10 March, 2007, have remained moribund to date. Unable to sell or, benefit from dividend payment, or bonus. I think Universal Insurance Plc is the worst stock at the NSE floor. The management is incompetent to run the company to the delight of the shareholders. It’s a tragedy for investors. But the managers have pot bellies? Suggesting, they reap the reward of investors.