AKIN Iroko has been appointed as Chairman of the newly constituted Board of Directors of Standard Alliance Insurance Plc.
Mr. Iroko is also the Chairman of Endura Investment Global Limited, a company that acquired 24% controlling shareholding in Standard Alliance Insurance Plc.
The former Director-General/CEO of Chartered Institute of Directors Nigeria and Board Chairman, Jags Edge Consulting Incorporated, Toronto, Canada, brings over 30 years boardroom engagement, corporate governance and international best practices to lead the newly resuscitate Standard Alliance Insurance Plc and reposition it to profitability within the shortest possible period.
The company’s operating license was cancelled by the National Insurance Commission (NAICOM) in 2022 following irregularities by the former board and management.
Other members of the new board are;
- Nathaniel Ibitowa (Non-Executive)
- Alh. Musa Lawan (Non Executive)
- Mr. Rohan Fernando (Non Executive)
- Mr. Paulinus Oluchukwu Offorzor (MD/CEO)
- Mr. Michael A. Owope (Executive Director, Finance)
- Mr. Tayo Amore (Executive Director, Technical)
It was gathered that Endura’s acquisition of 24% controlling shareholding in Standard Alliance Insurance has received regulatory approvals by NAICOM and the Nigerian Exchange (NGX). Mr. Nathaniel Ibitowa, a Director at Endura Investment Global Limited, disclosed in a statement on Tuesday that the transaction became effective on 19 August 2024.
Standard Alliance Insurance PLC was incorporated in 1981.
Eighteen-Eleven Media