FBS Reinsurance Restructures As Pioneer CEO Retires

FBS Reinsurance (FBS Re) has restructured its board and management following retirement of two key personnel on the management of the reinsurance firm, a development that reflects a new chapter in its repositioning for enhanced services.

To this end, the company’s founding CEO, Fola Daniel is retiring after his visionary leadership and dedication earned the firm a Gross Written Premium of about N33 billion within three years of operations.

Alongside the CEO transition is Steve Kyerematen’s retirement from the chief operating officer role.

A statement from the firm which was made available to LEADERSHIP yesterday, noted that, as Fola steps down from his executive role, Ganiyu Musa is to be the new managing director/CEO of FBS Re.

“Ganiyu brings his wealth of cognate experience and will introduce a fresh perspective to FBS Re.

With a proven track record of over several decades in the leadership of insurance, reinsurance, audit, and consulting institutions, he is poised to lead FBS Re to its next phase of innovation and market expansion,” it stated.

Ganiyu’s strategic vision, it stressed, aligns perfectly with FBS Re’s commitment to providing exceptional Reinsurance solutions to clients in Nigeria and across Africa.

Similarly, in line with FBS Re’s philosophy of nurturing talent from within, it announced Shola Ajibade’s promotion and appointment to the position of executive director (Technical), adding that, Shola has demonstrated exceptional technical expertise and a deep understanding of Nigerian and African Reinsurance markets.

In his new role, Shola will continue driving operations & business development and helping FBS Re achieve its strategic marketing objectives.

Steve and Fola, as founding executives, the company said, have jointly been instrumental in shaping FBS Re’s operational excellence and driving its record growth.

Reacting to the development, its chairman, Bala Zakariyau, expressed the board’s appreciation to Fola and Steve and welcomed them to their new positions as non-executive directors.

The board, he said, looks forward to their continued guidance to the company, while welcoming Ganiyu Musa as the new managing director/CEO , even as it is confident that his experience and track record would propel FBS Re to greater heights.