SUNU Assurances Nigeria Announces Acting MD/CEO

The management of SUNU Assurances Nigeria Plc has announced Mr. Samuel Ogbodu as the acting Managing Director/Chief Executive Officer following the resignation of its former MD/CEO.

This is in accordance with the Code of Corporate Governance stipulated by the National Insurance Commission, a period of 90 days’ notice must be observed before the official appointment of a substantive MD/CEO and the Board of Directors has deemed it fit for Mr. Samuel Ogbodu to act in this capacity.

Mr. Samuel Ogbodu is a Chartered Insurer and a member of the Society of Fellows of the Chartered Insurance Institute of Nigeria. A highly seasoned professional with a track record of success for surpassing revenue, cost, profit and business growth objectives with extensive experience in management of Insurance Company.

He started his career at Nigerian Life and Pension Consultants and later joined Law Union and Rock Insurance Plc in 1987 as Senior Manager, Head of Special risk department.

Mr. Samuel Ogbodu was part of the team that set up Sovereign Trust Plc’s operation in 1994. He contributed immensely to the growth and development of the company and by dint of hard work, commitment and resilience, rose to the position of ED/COO.

Mr. Samuel Ogbodu had in the past chaired various management project committees like the product development committee, revamping committee and Assets and liability Committee etc.

Mr. Ogbodu has special skills in Turnaround Management and projects with 100% success rate. He is an alumnus of Lagos State University, Lagos Business School, and University of Lagos, Akoka. He is a member of the prestigious Ikoyi Club 1938, IBB Golf and Country Club, Abuja and institute of Directors (IOD). He is happily married and blessed with

Editor’s Note:

SUNU Assurances Nigeria Plc. is a member of SUNU Group http://sunu-group.com/en/home and it has the vision to be a leading African Insurance Company. It is on a mission to be an insurance company recognized for excellent client services, using cutting edge technology, motivated workforce and good business ethics to meet stakeholders’ expectations. This is being driven by innovative service delivery, products development, cost management, customers experience and ensuring proper balance in all dealings.

SUNU Assurances Nigeria Plc was incorporated as Equity Assurance Nigeria on December 13, 1984 and was licensed to underwrite all classes of general business. The company operates with a recently increased authorized share capital and shareholders fund. The company is a corporate member of the West African Insurance Company Association (WAICA) and the Nigeria Insurers’ Association (NIA), the official umbrella of registered insurance companies in Nigeria, as well as The Africa Insurance Organisation (AIO). SUNU Assurances Nigeria Plc is the parent company of SUNU Assurances Limited, a Ghanaian subsidiary that started operations in Ghana in 2008.

The company changed its name from Equity Assurance Plc to SUNU Assurances Nigeria Plc with due approval from the shareholders and its regulator, National Insurance Commission (NAICOM). The approval was dated 29th March, 2018 and a new license was issued by NAICOM.
The name change was necessitated as a result of SUNU Group’s (a foremost Pan-African Insurance Group), recent acquisition of majority stake in Equity Assurance Plc., With operations in 14 African countries and 23 office locations spanning West and Central Africa, this acquisition positions SUNU Assurances Nigeria Plc., to leverage SUNU Group’s vast network of knowledge capital, financial strength and technical resources in our quest to differentiate our offerings and service standards in the Nigerian marketplace.

In addition to strengthening the company’s balance sheet, this strategic investment and name change also provides SUNU Assurances Nigeria Plc. with critical organizational capabilities & competencies which will be harnessed to create and deliver value to our esteemed brokers and clients.

This new name reflects its pan African presence as a full-fledged member of the SUNU Group. The company will continue to operate in its current structure, and our phone contacts remain unchanged. Other than the name change, there is no change in management and we will be providing tailored made products and better service on which SUNU Group has built its reputation across Africa.

Recently, SUNU Assurances Nigeria Plc announced the launch of its innovative mobile (USSD) Insurance solution. It is a simple, ‘first of its kind’ self-service solution which enables car owners / users to purchase authentic 3rd party Auto Insurance with the use of their mobile phones in less than 5minutes. This mobile (USSD) application also serves as a platform for customer engagement, claims payment and other after-purchase services. ‘