Business News

NAICOM Approves Andrew Ikekhua as NEM Insurance CEO

By Aduragbemi Omiyale

Mr Andrew Ikekhua has been authorised by the National Insurance Commission (NAICOM) to become the chief executive of NEM Insurance Plc.

The astute insurance professional was appointed by the underwriter to lead its affairs, but needed the approval of the regulator.

In a statement signed by the group head of its legal department, Ms Olajumoke Philip-Akede, NEM Insurance said the sector’s watchdog has given its nod, noting that the appointment became effective October 1, 2023.

“We wish to notify Nigerian Exchange Limited, our esteemed shareholders, and the investing public of the appointment of Mr Andrew Ikekhua as the Managing Director/Chief Executive Officer of NEM Insurance Plc. His appointment is effective from October 1, 2023.

“The approval of the National Insurance Commission (NAICOM) has been obtained for his appointment,” a part of the notice disclosed.

It was revealed that the new Managing Director has over 40 years of experience in the Nigerian insurance industry; and he has held several positions with a track record of high performance and excellence, including successfully driving the marketing and the retail operations of the company in recent years.

Mr Ikekhua is also said to have vast experience in marketing, business development, accounts, audit, administration, and products development.

He holds a Master of Business Administration (MBA) in Administration and Entrepreneurship from the London School of Business and Finance.

In addition, he has a Master of Business Administration (MBA) in Entrepreneurship from ITTL-Doctoral Research Centre and the University of Phoenix, Arizona.

The appointee is an Associate of the Chartered Insurance Institute of Nigeria (ACIIN) and a Fellow of the Institute of Chartered Economists of Nigeria.

He is also a full member of the Nigeria Institute of Management; a Fellow of the Institute of Marketing of Nigeria; a Fellow of the Institute of Commerce of Nigeria and a Fellow of the Institute of Credit Administration.

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