By Favour Nnabugwu
Continental Reinsurance Plc has announced the appointment of Mr Ogadi Onwuaduegbo as its new Regional Director and Mr Nkwenti Njah for Regional Director and Life Manager for English speaking (Anglophone) countries in West Africa, effective from January 2021.
In lieu of this recent appointment, Mr Ogadi takes over the helm of affairs from Mr Shola Ajibade, whose 5-year employment contract will elapse by the end of December 2020.
Mr Ogadi is an insurance expert with more than ten years’ experience in Nigeria and the UK. He is also a Chartered Insurer, Insurance Institute of London. He has worked for reputable organizations including Marsh Limited, London and Afro-Asian Insurance Services, London where until most recently he held the role of Senior Broker and Business Producer for Nigeria.
In the same vein, Nairametrics gathered that Mr Nkwenti Njah has recently joined the Lagos team as Head of Life and Health Operations for Anglophone countries in West Africa. He replaced Mr Olaolu Omifare who retired after 24 years of active service to the company.
Nkwenti Njah holds a Master’s degree in Actuarial Science from the University of Lisbon, Portugal and a Master’s degree in Economics from the University of BUEA, Cameroon. He has acquired 14 years of experience in risk management, actuarial, finance, accounting and auditing.
Commenting on the appointment of Mr. Ogadi, the Group Managing Director of Continental Reinsurance Plc, Dr. Femi Oyetunji said: “We have selected Ogadi to accelerate our ongoing strategy for Anglophone, West Africa, the region of our corporate genesis. We still see significant growth opportunities that require an emphasis on advisory skills in underwriting and claims handling, risk assessment, and relationship management – all of which were factors that led to Ogadi’s selection.”
Accepting his appointment, Mr. Ogadi stated that: “I join Continental Re at an opportune moment in its journey. I am happy to pick up the pace in executing the current strategy in line with the Company’s value proposition for claims settlement excellence.’’
Continental Reinsurance Plc was established on the 24th of July, 1985 as a private reinsurance company. It changed to its present status of being a composite reinsurer in 1990.
Inline with its goal of becoming a recognized leading insurance company in Africa, it converted to a public limited liability company in 2000, and recapitalised to N10 billion in 2007.
It subsequently got listed on the Nigerian stock Exchange in the same year (2007).
In 2019, the firm restructured and its 100% stake was acquired by the parent company, CRe African Investment Limited, leading to its delisting from the NSE.