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By Henry Uche
The Chief Executive Officer of Almond Productions Limited, Faith Ughwode, has reiterated her commitment to celebrating insurance operators who have played strategic roles in advancing the sector in Nigeria.
Speaking at the 2024 Almond Insurance Industry Awards held recently, Ughwode expressed her dedication to transforming the insurance sector from its long-standing image as the “weeping child of the financial sector” to a powerhouse in the Nigerian economy. She said her goal is to see the sector grow into one of prominence, comparable to its counterparts in other parts of the world.
“Our yearly awards ceremony is designed to inspire achievers to reach even greater heights and motivate others to step up. In our small way, we are leaving no stone unturned in ensuring that the insurance sector takes its rightful place in Nigeria, just as it has in other nations,” she said.
At the event, AIICO Insurance Plc won the ‘Life Insurance Company of the Year’ award for the second consecutive year, and the ‘Insurance Chief Executive Officer (CEO) of the Year’ award for Mr. Babatunde Fajemirokun, the company’s Managing Director.
The criteria for selecting the awardees are; strong financial performance, premium growth, customer service excellence, corporate social responsibility, quick claims settlement, brand impact, and the development of innovative products tailored for the Nigerian market, among others.
The award organisers said Mr. Fajemirokun’s recognition as Insurance CEO of the Year underscores his exemplary leadership, strategic vision, and unwavering dedication to AIICO’s growth. With years of industry experience, he has spearheaded innovative initiatives that have fortified AIICO’s leadership position and influenced the broader industry. Candidates for this award were evaluated based on their length of service, company performance, and the innovations they have introduced within their company and the industry.
Other winners are: Leadway Assurance Company Limited, which was named General Insurance Company of the Year; Noor Takaful Insurance Limited, which won Takaful Insurance Company of the Year and Kayode Awogboro, Managing Director of Ark Insurance Brokers Ltd., who was recognised as Insurance Broker of the Year.
Insurance Brokers of Nigeria won Insurance Broking Company of the Year; Goxi Microinsurance Co. Ltd, Microinsurance Company of the Year and Ebelechukwu Nwachukwu, MD of Rex Insurance, was named Insurance Woman of the Year.
In addition, Dangote Group received the award for Most Valuable Insurance Customer of the Year, while the Life Achievers Award was presented to Sir Ogala Osoka and Mr. Valentine Ojumah for their invaluable contributions to the sector.
Special Recognition Awards were given to the Governor of Lagos State, Mr. Babajide Sanwo-Olu, and Mrs. Modupeola Dallass-Olusanya for their significant impact on the insurance profession.
The evening was a true celebration of excellence, leadership, and innovation, highlighting the many ways in which individuals and organisations are driving the Nigerian insurance industry forward.
