Leadway Assurance Complies With 10-year Tenure Limits As New MD, ED Resume

With the implementation of the 10-year tenure limit for managing directors and executive directors of insurance companies kicking off, Leadway Assurance Company Limited has obeyed the regulatory directive by naming a new managing director/CEO and an executive director who will take over from the previous directors, having spent more than 10years at their respective position.

This, the company said, was done in line with the regulatory requirements of the National Insurance Commission (NAICOM).
Hence, the company has appointed Mr. Gboyega Lesi as the acting managing director of Leadway Assurance Company Limited, effective January 1, 2024, even as the appointment is subject to the requisite regulatory approval from NAICOM.

This strategic move, the firm said, is a testament to Leadway Assurance Company Limited’s commitment to sustaining the highest standards of corporate governance and adherence to regulatory directives, while the board expresses confidence in Gboyega Lesi’s leadership capabilities, underpinned by his close collaboration with Tunde Hassan-Odukale over the years.

Tunde, commenting on the appointment of his successor, stated that, “I am confident in Gboyega Lesi’s leadership, and I believe his expertise and experience in the industry in almost three decades will be instrumental in steering the company towards continued success and growth across the west African insurance market.

“Mr. Lesi, a seasoned professional with a wealth of experience, is well positioned to lead the company into its next phase of growth. His strategic vision and deep understanding of the industry make him an ideal successor to guide Leadway Assurance on its trajectory of sustained success,” Hassan-Odukale added.
Reflecting on his appointment, Lesi said: “It is an honour to assume leadership of this esteemed company during such a pivotal time. Our robust growth over the years is attributed to our values, a customer-centric culture, and an engaging approach that sets us apart.

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“Taking up the mantle to build upon this rich legacy is a challenge I eagerly embrace alongside our dedicated professional team. Our current standing is a testament to our stakeholders, brokers, and peerless customers’ trust in our ability to provide convenient, tech-driven, and reliable risk management support. My determination to consistently deliver excellence remains unwavering. I am wholeheartedly committed to furthering our accomplishments by placing our clients at the center of every aspect of our operations.”

In a similar development, Leadway Assurance Company Limited announced the appointment of Oluwafunmilayo Amanwa as the executive director, Technical & Operations, following the exit of the current executive director, Technical Services, Adetola Adegbayi, occasioned by the NAICOM circular on tenure limits for executives. Her appointment is also subject to the requisite regulatory approval from NAICOM.

Commenting on the appointment, Tunde reiterated that Amanwa’s exceptional portfolio and industry experience make her a worthy appointment to help the organization achieve its strategic objective of attaining best-in-class underwriting excellence and operational efficiency.

The company, he said, remains dedicated to providing innovative and comprehensive insurance solutions to its diverse clientele. This transition aligns with Leadway Assurance Company Limited’s commitment to fostering seamless succession planning that fosters its mission and values continuity.

Gboyega Lesi is a seasoned professional with over 25 years of working experience in the Nigerian Insurance industry.

Olufunmilayo Amanwa is a seasoned professional who has produced timely and unparalleled results in her 17 years of work experience.