FBS Reinsurance company’s leadership is wearing a new look following the appointment of Ganiyu Musa as its new managing director/chief executive officer, MD/CEO.
Musa’s appointment signifies a replacement for the erstwhile MD/CEO, Fola Daniel, who served as the company’s founding CEO and is credited with having led the company with vision and dedication.
“Under his sterling stewardship, FBS Re earned a gross written premium of over N33bn within only three years of operations. As Fola steps down from his executive role, we are excited to welcome Ganiyu Musa as the new managing director/chief executive officer of FBS Re,” FBS Re noted in a statement.
The firm also announced that Shola Ajibade, one of its officials, has been elevated to the position of executive director (technical) and that Steve Kyerematen has retired as its chief operating officer.
According to the firm, Ajibade, who was credited with having demonstrated exceptional technical expertise and a deep understanding of the Nigerian and African reinsurance markets, will continue driving operations and business development and helping FBS Re achieve its strategic marketing objectives, while Daniel and Kyerematen will take over their new positions as non-executive directors.
According to a statement, the firm noted that its appointment of a new management team and board members was a reflection of a new chapter in its repositioning bid for enhanced services.
It noted that none of the changes made in the leadership structure had received any objections and that the National Insurance Commission has also granted its approval for the changes to be implemented.
FBS Re expressed optimism that Ganiyu, with his wealth of cognate experience, will reposition the company and lead it to greater heights.
“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,” it asserted.
The firm, while chanting accolades for the new CEO added that, “Musa’s strategic vision aligns perfectly with FBS Re’s commitment to providing exceptional reinsurance solutions to clients in Nigeria and across Africa.”
FBS Re is a fast-growing Nigerian reinsurance company aimed at increasing reinsurance capacity availability to the ceding companies and enhancing insurance market penetration.
