THE board of Law Union and Rock has announced a change in executive management following the exit of Mr. Olumide Falohun.

Hitherto the Executive Director in charge of Finance and Administration, Mr. Segun Ilori, an took over all administrative duties from Mr. Olumide Falohun has been appointed the chief executive officer of Law Union & Rock Insurance Plc.

The coming on board of Mr. Ilori followed the stepping aside of Mr. Olumide Falohun as the managing director. Mr. Olumide whose resignation was consequent upon the expiration of his five year sign on deal with the company has said that he wants to pursue private endevours. The board of Law Union and Rock has since rectified the change in management even as Mr. Ilori has pledged his resolve to push the first generation comapnay to greater heights. Mr. Segun Ilori, who currently acts as the Managing Director is an accountant.

Industry sources have described Mr. Ilori as a thorough bred professional. He is bringing to the job, a 20-year industry experience most of it at executive management level.

Ilori started his career in insurance at Law Union in 1990 and rose through the ranks to become the General Manager, a position which he held till 2006 when he left Law Union to join Leadway Pensure PFA Limited as Chief Financial Officer.

He worked there for a year and half before returning to Law Union in 2007 as Executive Director (Finance and Administration). He supervised the successful implementation of Law Union’s first ever Information Technology network system and general business as well as the accounting information system project.

Mr. Ilori, a chartered Accountant and a chartered Insurer, earned an MBA degree with specialisation in marketing from the University of Lagos in 1998. He became an associate member of the Chartered Institute of Taxation of Nigeria and Chartered Insurance Institute of Nigeria in 1998. He is also a fellow of the Institute of Chartered Accountants of Nigeria and a member of The Chartered Insurance Institute of London.

Mr. Ilori was the chairman, Accounting Technical Committee, Nigerian Insurers Association (NIA), member, Co-ordinating Committee, Chartered Accountants in Business.

He has attended many management courses both within and outside Nigeria.

Law Union & Rock Insurance is said to be one of the leading players in the Nigerian insurance sub-sector and currently operates as a subsidiary of Skye Bank Plc. Other institutional investors include Consolidated Discounts Limited, Swede Control Intertek, Ventures and Trusts and Goldman Assets.