Cornerstone Insurance Plc has announced significant changes to its Board of Directors. Mr. Steve Iwenjora, a Non-Executive Director, resigned from the board effective December 31, 2024, with his resignation accepted during the board meeting on October 21, 2024.
In his place, Mr. Emeka Anthony Ogbechie has been appointed as a Non-Executive Director, effective December 31, 2024. This appointment received approval from the National Insurance Commission (NAICOM) on January 25, 2025, and is pending ratification at the company’s next Annual General Meeting.
Mr. Ogbechie brings two decades of international financial services experience, having held roles such as Director at African Capital Alliance, Group Finance Director at Equity Bank in Kenya, and Group Chief Finance Officer at United Capital Plc in Nigeria. His international experience includes strategic positions at Credit Suisse Investment Bank and UBS Investment Bank in London.
His academic credentials include an MBA in Strategy and Finance from INSEAD, an MSc in Management from The London School of Economics, and a BA in Business Administration and Marketing from the American Intercontinental University in London. Mr. Ogbechie’s expertise spans finance transformation, treasury, cost optimisation, corporate finance, performance management, and strategy.
These changes follow the earlier retirement of Mr. Ganiyu Musa as Group Managing Director and CEO on July 1, 2023, after serving since 2012. He was succeeded by Mr. Stephen Alangbo, who assumed the role of Managing Director/Chief Executive Officer on July 3, 2023.
Founded in 1991, Cornerstone Insurance Plc is a leading insurance provider in Nigeria, offering a wide range of general and life insurance products. The company is known for its customer-centric approach, innovative digital services, and strong financial performance. Cornerstone Insurance is listed on the Nigerian Exchange and is regulated by the National Insurance Commission (NAICOM). The company continues to focus on leveraging technology to enhance service delivery and drive growth in the Nigerian insurance market.
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