AIICO Insurance Plc strengthened its board by appointing three new directors, signalling a stronger push for governance and strategy.
Company Secretary Donald Kanu announced the decision in a formal disclosure.
The company appointed Sadiq Mohammed as Independent Non-Executive Director.
It also named Tunde Mabawonku and Rolake Akinkugbe-Filani, HCIB, as Non-Executive Directors.
The board said their experience in banking, capital markets, and advisory services will enhance strategic oversight.
Experienced Financial Expert
First, Sadiq Mohammed brings over 33 years of experience in financial markets and investments.
He founded Hexium Investments, where he leads advisory and real estate activities.
He also spent 28 years at ARM Group in senior leadership roles.
These included Deputy Group CEO and Managing Director of ARM Pension Managers.
Additionally, he led major projects such as Lekki Concession Company and Lakowe Lakes Estate.
He served on boards including FMDQ Group and FMDQ Clear Limited.
He holds an Executive MBA and completed programmes at Harvard Business School.
Read Also: $110M Buyback From Airtel Africa Aims To Boost Investor Returns
Banking And Strategy Strength
Next, Tunde Mabawonku brings over 25 years of experience in banking and finance.
He serves as Executive Director at Wema Bank, where he oversees finance, retail, and digital business.
He previously worked as Chief Finance and Strategy Officer.
Earlier in his career, he worked at Chartered Bank and Skye Bank in senior roles.
He holds a Master’s in Finance from London Business School and belongs to ICAN, CIBN, and ACITN.
Meanwhile, Rolake Akinkugbe-Filani brings nearly 20 years of experience in energy and finance.
She founded EnergyInc Advisors, where she leads infrastructure financing and capital mobilisation.
She also worked at Zenith Bank, Ecobank, and FBNQuest Merchant Bank.
She holds a TRIUM Executive MBA and serves on the UpEnergy board.
AIICO Insurance Market Performance and Growth
Finally, AIICO operates under Chairman Kundan Sainani and CEO Babatunde Fajemirokun.
The company trades at ₦4.60 per share and records over 21% year-to-date gains.
In Q1 2026, it grew profit to ₦5.8 billion from ₦5.1 billion.
It also increased premium income to ₦55.4 billion, while claims rose to ₦25.1 billion.
<!-
