Chinwendu Obienyi
Goldlink Insurance Plc, has announced the restructuring of its Interim Management Board by National Insurance Commission (NAICOM).
The report, which was released by the Corporate Communications Unit of the underwriting firm and sent to the Nigerian Stock Exchange (NSE) through the Company Secretary/Legal Adviser, Tobi Olaleye, said the Commission, in its bid to reposition the company, has replaced management headed by the Acting Managing Director, Funke Moore, which has successfully completed its mission of repositioning the company for capital raising and has ceased to be at the helm of affairs. He said the Commission approved the appointment of Kenneth Egbaran, as the new Chief Executive Officer of the insurance firm. Olaleye said that NAICOM also appointed Nahim Ibraheem as the Chairman of the newly constituted board. According to him, other members of the new board include Adeyinka Olutungase, Olarenwaju Suliamon, Tonbofa Eva and Farouk Yola. NAICOM took over the management of Goldlink in 2012 and appointed an interim management board for the company in furtherance of its regulatory oversight function. The Commission had last year approved a re-capitalisation scheme for the insurance company in a bid to restructure and return it to profitability. Goldlink Insurance was licensed in 1993 and has been one of the foremost underwriters in the Nigerian insurance industry, providing cover for Life and General Insurance businesses.