Insurance
Fatai Lawal appointed MD Nigeria of Continental Re, Nazare named GMD, other leaders emerge
Fatai Lawal appointed MD Nigeria of Continental Re, Nazare named GMD, other leaders emerge
Dr. Fatai Kayode Lawal has been appointed Managing Director/CEO of Continental Reinsurance Plc, Nigeria effective April 2025.
He replaced Mr. Lawrence Nazare who has been elevated as the Group Managing Director of Continental Reinsurance Holdings, headquartered in Botswana.
Other appointments were also announced in a statement expected to reinforce the group’s leadership as it executes the next phase of regional integration and strategic oversight.
Lawal, who will lead the Nigeria entity in charge of Anglophone West Africa operations, brings a wealth of experience to his new role.
He holds a B.Sc. (Hons) in Insurance from the University of Lagos, an MBA from the same institution, and a Doctorate in Management (Leadership and Organizational management) from the University of Phoenix, AZ.
Dr. Fatai Lawal
He is a Fellow of the Chartered Insurance Institute of London & Nigeria (FCII, FIIN) the Chartered Institute of Personnel Management of Nigeria and Chartered Institute of Directors.
Dr. Lawal’s impressive career includes his most recent position as Managing Director/Chief Executive of Sterling Assurance Nigeria Ltd from January 2007 to December 2023, where he successfully integrated three merging companies and significantly grew sales.
Prior to this, he served as the Managing Director/Chief Executive Officer of Universe Reinsurance Co. Limited, where he improved profitability and expanded markets.
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His earlier career also included a leadership role at Refuge Insurance Company Limited and a pioneering management role at Continental Reinsurance Co. Ltd. Dr.
Lawal has a proven track record in leadership, strategic development, market expansion, and team building.
Strengthening the Nigeria Board
The Nigeria entity also welcomes three new Non-Executive Directors, whose appointments have received regulatory clearance from the National Insurance Commission:
One of them, Mr. Segun Adebanji – Chairman of the Board, Non-Executive Director, is a veteran finance professional and Fellow of both the Chartered Association of Certified Accountants and the Institute of Chartered Accountants of Nigeria.
His international career includes leadership positions within UAC, Unilever, Nigerian Breweries, and Heineken, with postings in South Africa, Ghana, Namibia, and the Netherlands. He currently chairs Fidson Healthcare Plc and Filmhouse Group Ltd.
Another is Mrs. Funmilayo Omokhodion – Non-Executive Director, a chartered Insurer with 36 years of experience in reinsurance.
Mrs. Omokhodion rose through the ranks at Africa Re, serving as Regional Director for West Africa and in other senior roles.
She holds a BA in English and Linguistics and an Executive MBA in Insurance, and is a member of the Council of the Africa Reinsurance Foundation.
The third is Mrs. Eno Atoyebi, CFA – Non-Executive Director. With over 25 years in investment management, Mrs. Atoyebi is a Chartered Financial Analyst and Fellow of the Institute of Chartered Accountants of Nigeria.
She is currently the Managing Director of ValuAlliance Asset Management and oversees strategy for two mutual funds.
Her earlier experience includes senior roles at Afrinvest and ExxonMobil.
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The elevation of Nazare, the statement noted, followed the completion of his tenure as MD/CEO of Continental Reinsurance Plc, Nigeria, in December 2024.
In this new capacity as GMD, Nazare will oversee the Group’s pan-African operations and long-term strategic direction.
Joining him on the Board of Continental Reinsurance Holdings are two distinguished Non-Executive Directors:
Mr. Paul Kokoricha, former Chairman of Continental Reinsurance Plc, now appointed Chairman of the Board at Group level
Mr. Steve Iwenjora, formerly a Non-Executive Director at Continental Reinsurance Plc, has now been appointed a Non-Executive Director at Group level.
Reflecting on his transition to the Group Board, Mr. Kokoricha said, “It has been an honour to serve as Chairman of Continental Reinsurance Plc, Nigeria, where we achieved significant milestones in growth and governance. “As we now pivot to a consolidated Group structure, I am excited to continue supporting the company at this higher level—working with the leadership team to sustain our pan-African momentum and long-term ambition.”
Nazare added, “It’s been a privilege to lead our Nigeria business and support the broader Group’s evolution. As I now focus fully on the Group-level role, I remain committed to driving Continental Re’s strategic vision across Africa.”
The company said these appointments coincided with Continental Re’s 40th anniversary, a milestone reflecting the Group’s enduring legacy, resilience, and readiness for the future.
“With a strong leadership team in place across both Group and operational levels, Continental Reinsurance is well-positioned to deepen its impact across Africa’s reinsurance landscape,” it stated.
Fatai Lawal appointed MD Nigeria of Continental Re, Nazare named GMD, other leaders emerge
Insurance
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Insurance
NEM Insurance Projects ₦13.1bn Profit as Q1 2026 Forecast Signals Strong Growth
NEM Insurance Projects ₦13.1bn Profit as Q1 2026 Forecast Signals Strong Growth
NEM Insurance Plc has reaffirmed its strong growth momentum after submitting its Q1 2026 financial forecast to the Nigerian Exchange Group (NGX), projecting sustained profitability and balance-sheet expansion.
According to the forecast, the leading general insurance underwriter expects total assets to rise to ₦177.28 billion in the first quarter of 2026. Insurance revenue is projected at ₦65.26 billion, while profit before tax is estimated at ₦13.16 billion and profit after tax at ₦11.71 billion, highlighting continued operational efficiency.
The upbeat outlook underscores NEM Insurance’s confidence in its business fundamentals, supported by strong underwriting performance, prudent risk management, and effective investment strategies.
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The company’s positive trajectory follows a robust 2025 financial performance. In line with its commitment to shareholder value, NEM Insurance paid a ₦5.02 billion dividend for the 2024 financial year, a decision that earned commendation from shareholders at its 2025 Annual General Meeting (AGM).
Earlier, the insurer’s unaudited Q3 2025 results, filed with the NGX, revealed significant growth. Total assets climbed to ₦165.46 billion as of September 30, 2025, up from ₦121.93 billion at the end of December 2024. Shareholders’ equity also increased to ₦80.97 billion from ₦65.44 billion, strengthening the company’s capital base.
Operational performance showed strong year-on-year improvement, with insurance revenue surging by 55 per cent to ₦107.44 billion in Q3 2025, compared to ₦69.52 billion in the same period of 2024.
Industry analysts say NEM Insurance Plc’s consistent earnings growth, solid capital position and reliable dividend history place it in a strong position to navigate industry challenges and seize emerging opportunities in Nigeria’s insurance market.
With its optimistic Q1 2026 forecast now before the NGX, NEM Insurance appears well-positioned to build on its recent successes and reinforce its reputation as one of Nigeria’s most resilient insurance companies.
NEM Insurance Projects ₦13.1bn Profit as Q1 2026 Forecast Signals Strong Growth
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