New African Alliance Insurance MD Vows to Reposition Firm

The newly appointed Managing Director/ Chief Executive Officer of African Alliance Insurance Plc, Mrs. Funmilayo Omo, has said that her desire is to transform the firm into a world class insurance company.

Omo was recently confirmed MD/CEO of the life specialist underwriting company by its board of directors. Speaking on her vision for the company, she said: “I want African Alliance to be a first class company in the next five years. I want African Alliance to compete with any other company internationally, I want to improve on the quality of personnel that we have. Yes, the company is run by professionals but I want to keep on training them exposing them, improving them so that they remain relevant and be able to take this company to the next level.”

Prior to her confirmation last week, she was in March this year appointed acting MD of the 56 year old life insurance company following the retirement of the erstwhile MD Alphonsus Okpo.

A statement from the corporate communications personnel of the company, Stella Osanebi said Omo’s appointment was recently confirmed by the National Insurance Commission (NAICOM).

A graduate of the University of Lagos, Omo, was awarded a B.Sc. Degree in Insurance in 1990. She was trained as a life insurance underwriter by Munich Re in South Africa and has over 26 years experience in life and pension business.

She joined African Alliance Insurance Plc ( then a Limited Liability Company),as an Assistant Superintendent in 1991 and later rose to the position of Controller ( Technical Operations) in charge of individual business in 2004. In 2006, she became an Assistant General Manager from where she advanced to become the Executive Director and Head of Life Operations of the company.

With proven track record for success, Omo, until her confirmation was the acting managing director of African Alliance Insurance Plc, taking over from the erstwhile MD/CEO. She is an Associate Member of the prestigious Chartered Insurance Institute of London, an Associate Member of the Nigerian Institute of Management and an Associate of the Certified Pension Institute of Nigeria. She is also an alumnus of the Lagos Business School.