Babatunde Fajemirokun, AIICO Insurance

AIICO Insurance Plc has announced the appointment of Babatunde Fajemirokun as its new Managing Director and Chief Executive Officer with effect from Wednesday, August 14, 2019.

Fajemirokun’s appointment was disclosed in a notification to the Nigerian Stock Exchange (NSE) and the investing public at large.

[READ MORE: Understanding regulatory technology and the role of regulators in Nigeria]

Profile: Fajemirokun started his career in 2001 as a visiting lecturer in the Division of Economics and Enterprise in Glasgow Caledonian University. He joined Accenture (Nigeria) Financial Services Unit (Banking and Insurance Groups) in 2003, as an analyst and specialized in Mergers and Acquisitions projects. He later joined Capgemini Consulting (UK) Business Information Strategy Unit (cross-industry) in 2008, as a Senior Consultant, and worked on UK government transformation projects.

Fakemirokun joined AllCO Insurance Plc, Life Division, in 2009 and was responsible for key company projects in its maiden transformation projects. He led retail operations between 2009 and 2013, which encompassed retail processing (underwriting new business and renewals, alterations/ endorsements and policy issuance & delivery), customer services/ retail claims, business process projects and technology. In October 2013, he was appointed Chief Operating Officer. This position required him to oversee all strategic functions, retail processing/ operations, actuarial functions, enterprise risk management and shared services (finance, human resources, information technology, procurement and estate management) operations in the company.

[READ MORE: Sterling Bank appoints Femi Jaiyeola as Chief Compliance Officer]

In 2017, he was appointed Group Chief Business Officer, a position which encompassed the subsidiary businesses, especially the asset management business. He is also responsible for raising additional capital at appropriate valuations for Group companies to meet solvency and/or growth strategic objectives. He has deep experience in life assurance/ insurance business operations, strategy for life and non-life businesses, retail operations, business process reengineering, actuarial, financial reporting, corporate finance and risk management fields including economic capital, life embedded value, ORSA, risk appetite, and ERM. He is also the Non-Executive Director of AllCO Pension Managers Limited, Food Concepts Pic and Xerox Corporation Nigeria (XHS).

Fajemirokun holds an MBA from University of Chicago Booth School of Business with a concentration in Finance, a Master’s Degree in Business Information Technology Systems (with dist.) and a BA (Hons) degree in Business Economics. He is qualified as an ACI (UK and Nigeria) and holds a Chartered Status (Chartered Insurer). He is also a member of the Institute of Directors.

[READ MORE: Old Mutual suspends CEO with immediate effect, as CEO reacts]

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.