The apex regulatory authority in Nigeria’s insurance market has confirmed the appointment of top executive at FIN Insurance Company Limited.The approval, aimed at ensuring that efforts geared towards boosting insurance penetration and meaningful contribution to the Gross Domestic Product (GDP), is realised, would also bring tested hands to improve the sector’s fortunes.
The National Insurance Commission (NAICOM),okayed the appointment of Peter Ekwueme as executive director,Technical/Operation of FIN Insurance to regain the confidence to the sector. The low insurance penetration in the Nigerian market has been a major challenge to underwriting companies, particularly in this period of recapitalisation exercise with December 31, 2020 deadline.
The confirmation was conveyed in a letter addressed to the Managing Director/Chief Executive Officer FIN Insurance Company Limited and signed by Leonard Akah, Director, Governance, Enforcement and Compliance on behalf of the Commissioner for Insurance.
The accomplished professional, with over 24 years of experience in the sector, prior to joining the company, was the General Manager and Divisional Head, Institutional Business at Cornerstone Insurance Plc where he began his career.A versatile insurance practitioner with vast experience in Sales and Marketing Management, Underwriting and Operations, Peter is an Associate member of the Chartered Insurance Institute of Nigeria (CIIN).
He has attended various courses locally and abroad including Advanced Management Course on Sales Force Performance at Kellogg School of Management, Illinois, Chicago, USA.He is an alumnus of the prestigious Kellogg School of Management and Lagos Business School, with a bachelor’s degree in Agriculture from University of Agriculture Makurdi and a master’s in business administration from Delta State University Abraka.