By Bisi Bamishe
FBS Reinsurance Limited, a fast-growing Nigerian Reinsurance company, has announced changes to its board and senior management team.
The company said in a statement that Mr. Fola Daniel steps down from his executive role, while Mr.Ganiyu Musa becomes the new Managing Director/Chief Executive Officer of FBS Re.
It added that the changes would reflect a new chapter in its repositioning for enhanced services.
All changes have received no objections and approval from the National Insurance Commission (NAICOM).
The statement said, “FBS Re expresses its deepest gratitude to Fola Daniel, the company’s founding CEO, for his visionary leadership and dedication. Under his sterling stewardship, FBS Re earned a Gross Written Premium of over N33bn within only three years of operations.
“As Daniel steps down from his executive role, we are excited to welcome Ganiyu Musa as the new Managing Director/Chief Executive Officer of FBS Re.”
Ganiyu brings his wealth of cognate experience and will introduce a fresh perspective to FBS Re. With a proven track record of over several decades in the leadership of insurance, reinsurance, audit, and consulting institutions, he is poised to lead FBS Re to its next phase of innovation and market expansion.
Ganiyu’s strategic vision aligns perfectly with FBS Re’s commitment to providing exceptional reinsurance solutions to clients in Nigeria and across Africa.
Alongside the CEO transition is Steve Kyerematen’s retirement from the Chief Operating Officer role
Kyerematen and Daniel, as founding executives, have jointly been instrumental in shaping FBS Re’s operational excellence and driving its record growth.
Also, in line with FBS Re’s philosophy of nurturing talent from within, it announced Shola Ajibade’s promotion and appointment to the position of Executive Director (Technical).
Ajibade has demonstrated exceptional technical expertise and a deep understanding of Nigerian and African Reinsurance markets.
In his new role, Ajibade will continue driving operations & business development and helping FBS Re achieve its strategic marketing objectives.
Bala Zakariyau, Chairman of the Board of Directors, expressed the board’s appreciation to Daniel and Steve, and welcomed them to their new positions as non-executive directors.
The Board looks forward to their continued guidance to the company.
At the same time, he warmly welcomed Ganiyu Musa as the new Managing Director/Chief Executive Officer, and is confident that his experience and track record would propel FBS Re to greater heights.
