NAICOM Confirms Samuel, NICON CEO

Yemisi Izuora
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The National Insurance Commission  (NAICOM), has confirmed the appointment of Mr. Bayode Samuel as the Managing Director/CEO of NICON Insurance Limited.

The confirmation was conveyed in a letter  addressed to the Chairman of the Board of Directors of NICON Insurance Limited and signed by Mr. Pius Agboola, Director (Authorisation and Policy) on behalf of the Commissioner for Insurance.

NICON Insurance Limited’s Senior Manager (Corporate Affairs), Mr. Ade Adesokan, in a statement, said Mr. Samuel appointment was part of the Board of Directors’ resolution and its desire to reposition the company for better service delivery to her teeming esteemed customers and the insuring public.

The NICON he said is poised to re-establishing its presence as a value creating world player in the Insurance Universe on more by delivering superior financial performance to all its stakeholders, he said.

According to him, Mr. Samuel, a renowned technocrat and insurance professional of over 30 years experience was until his new, appointment the Executive Director (Technical) of the Company.

He was also the former Chief Operating Officer (Branch Acquisition, Network and Operations) of the Company, he added.

“Mr. Bayode started his insurance career in 1984 with the Leadway Assurance Company Limited, where he rose to become the Head of Pensions Department in 1992 before joining Industrial and General Insurance PLC, as pioneer Head of Life and Pensions Division”, he said.

In 1993, he set up and became the pioneer Managing Director of First Universal Insurance Brokers, a subsidiary of Universal Trust Bank of Nigeria (UTB), a position he held before his appointment as the Chief Executive Officer of Jones Simplix & Company Limited.

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