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NAICOM approves new board for Law Union


Law Union & Rock Insurance Plc has said the National Insurance Commission has approved its new board of directors.

The firm disclosed this in a statement signed by the Head, Research, Strategy and Corporate Communications, Mr Bolaji Akerele, on Monday, titled ‘NAICOM approves new board of directors for Law Union & Rock Insurance’.

It stated that the new directors are Eric Idiahi, Abayomi Onifade, Mrs Subulade Giwa-Amu, Mrs Ije Onejeme, Dr. Umaru Kwairanga, and Livingstone Mogarimbo.

The new Chairman, Idiahi, is a co-founder and partner of Verod Capital Management Limited, according to the statement.

Prior to founding Verod Capital, he was the co-founder and managing partner of Fountainhead Media Group, an investment and advisory firm focused on the technology, media and telecoms sector in Nigeria.

He holds a bachelor’s degree from the university of Houston and MBA from the Said Business School, Oxford University.

The statement said he also serves as director of Tangerine Life Insurance, AXA Mansard Pensions Limited, Central Securities Clearing Systems Plc, Emzor Pharmaceutical Industries Limited, Greensprings School Limited and Lancaster University Ghana. Onifade has over the last 16 years, being an integral part of the team that built one of Nigeria’s largest and fastest-growing non-bank financial services groups Axa Mansard.

He actively built a group, which today has segment-leading status in life and health insurance as well as asset management with gross revenues of approximately $120m.

The statement said he holds a bachelor’s degree in insurance from the University of Lagos and Senior management programme certificates from Lagos Business School, London Business School, University of Chicago Booth and INSEAD.

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