African Alliance Insurance Plc has appointed Alexander Nwuba as the non-executive director of the insurer.
According to a disclosure filed to The Exchange, the appointment has been approved by the Company’s Primary Regulator, the National Insurance Commission (NAICOM).
The insurer believes his mix of talent, experiences and in particular, technology leadership will expectedly bring significant benefit to the company and the industry as it navigates an evolving and more technology-driven business landscape.
What you should know about Alexander Nwuba
- Dr. Alex Nwuba joined African Alliance Insurance Plc from a UAE based private equity group where he was in charge of the Group’s African investment portfolio and advisory services, advising both corporate and government clients.
- He comes from an extensive corporate leadership background across multiple sectors including oil and gas, aviation, telecommunications, financial services, payment systems, and technology, serving on various intergovernmental technical committees.
- He also served on the global boards of organizations such as the ATM Industry Association Worldwide (ATMIA), Smartcard Society of Nigeria (Founding Board), Nigerian Economic development Forum (NEDF) and West African Payment Integration Committee WAMZ/WAMU (Technical sub-committee).
- He holds a doctorate degree in Business Administration from the Swiss School of Business and Management, Geneva.
- He is a Fellow of the Institute of Professional Managers and Administrators of Nigeria (IPMAN) and the Institute for Travel Professionals of Nigeria (ITPN)
The company reported a loss of N1.2 billion in 2021, a huge slide from the N5.7 billion profit which was reported in the previous year. Similarly, its gross premium income was N7.2 billion during the year.
The net underwriting income for the period was valued at N4.8 billion while the net underwriting expenses was N774 million, influencing a net underwriting profit of N6 billion.
