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.