Axa Mansard Insurance Plc‘s Board of Directors has unanimously approved the appointment of Sohail Ali as the company’s new Executive Director.
According to a public disclosure issued to the Nigerian Stock Exchange, the appointment has also been approved by the National Insurance Commission (NAICOM).
Meanwhile, in a separate disclosure also sent to the NSE, Axa Mansard also informed its esteemed shareholders, stakeholders, and the public about the resignation of Karima Silvent, a Non-Executive Director of the Company.
Silvent’s resignation took effect from Wednesday, May 8, 2019. The resignation was unanimously approved by the company’s Board of Directors.
Sohail Ali’s profile: Mr Ali is a qualified Fellow of the UK Institute of Actuaries, with over 15 years’ experience in consultancy, sales, and operations in the Life, Pensions, and Investment sectors.
He joined AXA Egypt in 2008 and was responsible (at different stages) for managing the P&L of the Life & Savings business, actuarial, compliance, internal audit, legal, risk management, underwriting, and claims functions.
Ali has been appointed as Executive Director overseeing the Actuary Division.
About the company: AXA Mansard Insurance Plc was incorporated on the 23rd of June, 1989 as a private limited liability company called “Heritage Assurance Limited”. It was issued a composite insurance license by the National Insurance Commission (NAICOM) in March 2004.
The company’s name was changed to Guaranty Trust Assurance Limited in September 2004, following the acquisition of a majority shareholding by Guaranty Trust Bank Plc. Later, the company’s name was changed again to Guaranty Trust Assurance Plc in March 2006.
AXA Mansard Insurance Plc functions as a multi-expert asset management company within the AXA Mansard Group. The company is duly registered by the Securities and Exchange Commission of Nigeria (SEC) as Fund/Portfolio Managers.
In November 2009, the company was listed on the Nigerian Stock Exchange. Guaranty Trust Bank Plc divested from the firm in 2012, following CBN‘s guidelines for banks to either divest from non-banking subsidiaries or form holding companies. Mansard was then bought by Assur Africa Holdings.
Axa Mansard Plc is currently trading N1.81 on the floor of the Nigerian Stock Exchange (NSE).