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Prestige Assurance Plc has appointed former director, Sarbeswar Sahoo as its new Managing Director following the expiration of Dr Balla Swamy’s tenure. Valdamudi Raja has also been appointed as Executive Director of the company.

The company made this announcement in a notification sent to the Nigerian Stock Exchange (NSE) and the general public.

The appointees’ profiles: Sarbeswar Sahoo holds a Masters degree in Commerce and another in Business Administration (Financing & Marketing). He is a fellow of the Insurance Institute of India (FII). Sahoo joined the services of the new India in different capacities in various departments ranging from accounts, claims, personnel and various aspects of branch, division and region operations.

Balla Swamy

Prior to this, Sahoo worked as the Regional Manager in charge of Bhubaneswar’s regional operations. He has 27 years of experience in General Insurance Industry and has undergone various professional training and workshops which cut across different aspects of insurance. He is a visiting faculty to management institutions and insurance training institute.

On the other hand, Valdamudi Raja holds a Masters degree in history from Acharya Nagarjuna University Guntur. He is also a fellow from Insurance Institute of India, Mumabi. He has 28 years of experience in the insurance industry as he has worked as a branch manager & divisional manager. Raja has also handled marketing, claims management, accounts and underwriting.

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In addition, he has conducted various training programs for marketers and headed a specialized agent branch in Visakhapatnam as a branch manager.

Raja has no doubt a worthy exposure in servicing large corporates and brokers. He has undergone various training programs particularly in fire, business interruption, engineering, marine cargo & hull, motor, health and general accidents and so on, in Hyderabad, Mumbai & NIA, Pune. Raja has been working with Prestige Assurance since March 2016.

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About Prestige Assurance Plc: The company is a non-life insurance business with over sixty years of experience in Nigeria. Its core areas of business include motor, marine, bond, engineering, fire, aviation, oil and gas and general accident.

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New India Mumbai Assurance Company and Leadway Assurance Plc are the majority shareholders in the firm.

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