Heirs Insurance appoints Fayemi as new MD

Heirs Insurance Ltd., says it has chanced its name to Heirs General Insurance (HGI).

The organisation said its subsidiaries, Heirs Insurance Ltd. (HIL) and Heirs Life Assurance (HLA) also made appointments to some of their senior leadership positions.

The Communications Manager of Heirs Life, Timilehin Adebiyi, said this in a statement on Tuesday in Lagos.

Mr Adebiyi said the company has appointed Wole Fayemi as its managing director/chief executive officer (MD/CEO).

According to him, the appointment takes effective May 2.

The News Agency of Nigeria (NAN) reports that Mr Fayemi has over two decades of experience in the Nigerian insurance sector.

Prior to joining HGI, Mr Fayemi served as executive director (Technical) of the old Mutual General Insurance, where he led the operations team to achieve top-line growth.

Mr Adebiyi said the new managing director re-organised the structural re-alignment of processes of Mutual General Insurance for higher efficiency and drove the strategic direction of the operations team.

The communication manager stated that the Board of Directors of Heirs Life Assurance also effected the promotion of Tosin Bayo-Yusuf to the position of executive director/chief operating officer.

He said Bayo-Yusuf’s appointment followed the retirement of Mr Wasiu Amao, its former executive director (Technical).

“Bayo-Yusuf has a cumulative 17 years of work experience in the Nigerian Insurance industry.

“She joined Heirs Life in 2021 and has held several leadership positions as the Head of Individual Life Operations and most recently, as the Head of Bancassurance.

“Bayo-Yusuf championed the bancassurance partnership with United Bank for Africa and will support Heirs Life MD/CEO, Niyi Onifade, in driving the operations of the company,” Mr Adebiyi said.

He quoted Tony Elumelu, Chairman, Heirs Holdings, as saying that Fayemi’s experience and vision for the insurance industry aligned with HGI’s mission.

READ ALSO: Heirs Holdings acquires 45% of OML 17 from Shell, Total, ENI

Mr Elumelu expressed confidence that the new managing director was the right leader for HGI and the next phase of its business growth.

“His deep knowledge in the insurance industry and excellent business development skills will play an important role in the future of the company by driving business expansion and establishing the company as a 21st Century insurer,” he said.

Reacting, Mr Fayemi acknowledged his new position as a privilege and expressed readiness to take up the mantle of leadership and steer the company toward its next milestones.

He lauded the business track record of Heirs Holdings Group and the significant impact Heirs General Insurance is making in the industry.

Heirs General and Heirs Life companies are subsidiaries of Heirs Holdings, a pan-African investment company with operations across twenty countries.

(NAN)