The Board of Directors of Lasaco Assurance Plc has announced the appointment of Mr. Razzaq Abiodun as the Managing Director/Chief Executive Officer, to superintendent over the affairs of the insurance company in an acting capacity.
He succeeds Mr. Segun Balogun, the immediate past Managing Director of the organisation, who retired from the Board effective from May 29, 2021.
The underwriting firm disclosed this in a notification signed by its secretary/legal adviser, Gertrude Olutekunbi and sent to the Nigeria Exchange Group Plc.
Mr. Razzaq Abiodun has over 30 years’ experience in the insurance industry with technical expertise in claims, reinsurance, underwriting and marketing.
The new MD is not new to Lasaco Assurance, as he joined the company in 2017 as Executive Director Technical and later became Deputy Managing Director Technical.
He earlier worked for a host of leading insurance companies like the defunct City Union Insurance, Metropolitian Trust Insurance (now Consolidated Hallmark), WAPIC Insurance Plc, among others.
Abiodun is an alumnus of the Lagos State University and the Ghana Institute of Professional Studies (GIMPA), where he obtained a MBA and LLB respectively.
He is an Associate of the Chartered Insurance Institute of United Kingdom. In 2012, he was awarded the Fellowship of the Chartered Insurance Institute of Ghana.
Recalled that Mr. Segun Balogun, the immediate past MD of LASACO Assurance Plc, is also a financial industry expert with over three decades of experience.
Prior to his appointment as MD of LASACO, he was the CEO of FBN General Insurance Limited. He was also the former MD/CEO of WAPIC Insurance Plc for 13 years.
Balogun is an alumnus of the prestigious University of Lagos and is a Fellow of the Chartered Insurance Institute of Nigeria. He is an Associate of the Chartered Insurance Institute of the United Kingdom.