FBS Re, a Nigerian reinsurance company experiencing rapid growth, has introduced a fresh leadership team and new board members.
In a recent statement released by the company, these changes mark the beginning of a new phase aimed at enhancing their service offerings.
All appointments and modifications underwent a thorough review process by the National Insurance Commission, obtaining the necessary approvals.
The company has named Ganiyu Musa as the new Managing Director and Chief Executive Officer, taking over from Fola Daniel.
Additionally, Shola Ajibade has been promoted to the role of Executive Director, focusing on technical aspects of the business.
A statement of appreciation was extended to Daniel, the founding CEO, for his impactful leadership and unwavering commitment.
“Under his guidance, FBS Re achieved a remarkable gross written premium exceeding N33bn in just three years of operation. As Fola transitions from his executive position, we look forward to the leadership of Ganiyu Musa as the new Managing Director and CEO of FBS Re,” the statement affirmed.
The company highlighted that Musa brings a wealth of relevant experience and a fresh perspective to FBS Re.
“With extensive experience spanning several decades across insurance, reinsurance, audit, and consulting sectors, he is well-equipped to steer FBS Re towards innovative practices and market expansion.
Musa’s strategic foresight aligns seamlessly with FBS Re’s dedication to delivering top-tier reinsurance solutions to clients in Nigeria and beyond,” it emphasized.
The retirement of Steve Kyerematen as the Chief Operating Officer was also disclosed by the company.
It was noted that Ajibade has showcased exceptional technical proficiency and a profound understanding of the Nigerian and African reinsurance landscapes.
In his new capacity, Ajibade will continue to drive operations and business growth, contributing to FBS Re’s strategic marketing objectives.
Bala Zakariyu, the Chairman of the Board of Directors, expressed gratitude to Daniel and Kyerematen while welcoming them to their new roles as non-executive directors.