Home Insurance Digest Guinea Insurance appoints new directors

Guinea Insurance appoints new directors

In its effort to ensure effective compliance with the recent regulatory directive by the National Insurance Commission that all non executive directors who have served on the board of insurance companies for three tenures and above to retire, Guinea Insurance Plc has announced the retirement of its chairman and four directors; having served for over nine years on the board of the company.
Positioning itself as a compliance corporate player in the market, the company  has no option than comply with the current tide of structural and operational changes in the insurance industry and has therefore, moved to ensure sound business practice and effective compliance with all statutory requirements and the code of good corporate governance as stipulated in section 5.04 (vii) of the 2009 Corporate Governance Code of the National Insurance Commission (NAICOM).
Those affected in the exercise are the erstwhile chairman, Sir Emeka Offor and four non-executive directors namely, Mr. Fred Udechukwu, HRH Eze Smart Nze, Prof. E.L.C Nnabuife and Engr. Emeka Agusiobo who retired from the Board of the company effective March 23, 2016.
A statement from the company signed by its Team Lead, Corporate Communications, Mr. Ufot Hanson stated that the Board also approved the appointments of: Mr. Anthony Achebe, Alhaji Hassan Dantata, Simon Bolaji, Chief Osita Chidoka, Mr. Emeka Uzoukwu, Dr. Mohammed Tahir Attahir as non-executive directors while Alhaji A.O. Kadiri was returned as the Independent director of the company.
In the same vein, Barrister Godson Ugochukwu was also appointed chairman of the Company to replace Sir Emeka Offor, while the Board also approved the appointment of Isioma Omoshie, the Company Secretary/Legal Adviser as the acting MD/CEO until the appointment of a substantive MD/CEO is ratified.
This is coming on the heels of the recent resignation of the erstwhile MD/CEO, Mr. Polycarp Didam, who has moved on to pursue other interests.

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