By Favour Nnabugwu

The Board of Directors of Lasaco Assurance Plc has announced the be appointment of Mr Razzaq Abiodun as the new Managing Director/Chief Executive Officer, following the retirement of Mr Segun Balogun.

This was disclosed in a notification that was signed by the firm’s secretary/legal adviser, Gertrude Olutekunbi and sent to the Nigeria Exchange Group Plc (NGX).

Mr. Razzaq Abiodun has over 30 years’ experience in the insurance industry with technical expertise in claims, reinsurance, underwriting and marketing. He worked for a host of leading insurance companies like the defunct  City Union Insurance, Metropolitian Trust Insurance (now Consolidated Hallmark), WAPIC Insurance Plc, among others.

He joined Lasaco Assurance Plc in 2017 as Executive Director Technical and later became Deputy Managing Director Technical.

Abiodun is an alumnus of the Lagos State University and the Ghana Institute of Professional Studies (GIMPA), where he obtained a MBA and LLB respectively.

The company disclosed that its former Managing Director, Mr. Segun Balogun had retired from the Board effective from May 29, 2021.

In a bid to fill the void left by his departure, the Board announced the appointment of Mr. Razzaq Abiodun who will superintend over affairs as the MD/CEO, although in an acting capacity.

Mr. Segun Balogun is a financial industry expert with experience that over three decades of experience. Prior to his appointment as MD of LASACO Assurance Plc, he was the CEO of FBN General Insurance Limited. He was also the former MD/CEO of WAPIC Insurance Plc for 13 years.

Balogun is an alumnus of the prestigious University of Lagos and is a Fellow of the Chartered Insurance Institute of Nigeria. He is an Associate of the Chartered Insurance Institute of the United Kingdom.