…As Tokunboh Ishmael becomes Board Chair and Funmilayo Abimbola Omo is new MD/CEO
Prudential Zenith Life Insurance Limited (PZL) has appointed ‘Tokunboh Ishmael as the new Chair of its Board of Directors and Funmilayo Abimbola Omo as the new Managing Director/Chief Executive Officer.
These strategic appointments follow Prudential plc’s recent acquisition of the remaining 49% shares in the company, marking a significant turning point as the Group reinforces its commitment to Nigeria and the broader African market
The appointments of Ishmael and Omo signify a clear focus on leveraging strong leadership to drive the introduction of innovative and value-added insurance solutions and services to Prudential Zenith Life clients. It is expected to significantly bolster the company’s growth ambitions and solidify Prudential’s mission to be the most trusted partner and protector for today’s generations and the generations to come.
“We are delighted to welcome this exceptional leadership team at Prudential Zenith Life,” said Emmanuel Mokobi Aryee, CEO, Africa, Prudential.
“The appointments of both ‘ Ishmael as Board Chair and Abimbola Omo as Managing Director/CEO demonstrate our commitment to investing in top-tier talent to realise our ambitions in Africa. We are confident that their combined expertise and strategic vision will drive PZL to new heights, delivering impactful and tailored insurance solutions that protect lives and empower futures across Nigeria.”
‘Tokunboh Ishmael, the newly appointed Board Chair, is a distinguished impact investor with over 20 years of extensive experience spanning investment banking, private equity, technology, and business development across Africa, Europe, and North America. As a Chartered Financial Analyst (CFA) and a member of the CFA Institute, her financial acumen and strategic insight will be invaluable in guiding PZL.
Sharing her enthusiasm, Ms. Ishmael stated: “I am honoured to chair the Board of Prudential Zenith Life at this pivotal time. I look forward to working alongside the management team to provide strategic oversight and contribute to the company’s continued growth and success in the Nigerian market.”
Funmilayo Abimbola Omo, the new Managing Director/CEO, brings a wealth of experience in the insurance and financial services sectors. Her proven expertise in business transformation, customer-centric innovation, and operational excellence positions PZL for accelerated growth and enhanced market impact.
Expressing her perspective on her new role, Mrs. Omo stated: “I am privileged to lead Prudential Zenith Life at such a pivotal time. The company’s strong foundation, coupled with Prudential’s global strength and commitment to Africa, presents a unique opportunity to redefine the life insurance landscape in Nigeria. I am eager to collaborate with our talented team and valued partners to foster innovation, broaden our reach, and make life insurance more accessible and impactful for all Nigerians.”
Under Prudential’s full ownership and this robust leadership, PZL will leverage global expertise, technological advancements, and its strong bancassurance partnership with Zenith Bank to enhance the accessibility and reach of its insurance products. This strategic direction aligns with Prudential’s broader ambition to bridge the insurance gap in Africa and accelerate financial and health protection for millions.
Prudential Zenith Life Insurance Ltd (PZL) is a fully owned subsidiary of Prudential plc, following Prudential plc’s acquisition of a 100% shareholding as of September 26th, 2024. It has become one of the most capitalized companies in the Nigerian insurance industry. With a gross written premium of N6.3Bn as of December 2022, PZL offers a wide range of individual products, including savings and investment-linked products, endowment, and protection plans designed to meet the needs of individuals and their families. For corporate clients, the company provides Group Life, Key-Man Assurance, Credit Life, School Fees Protection, and Mortgage Protection, ensuring comprehensive coverage for the welfare of clients’ employees and families.
Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.
Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.