AIICO Appoints Olusola Ajayi as Executive Director

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The Board of Directors of AIICO Insurance Plc has announced the appointment of Mr. Olusola Ajayi as the new Executive Director in furtherance of the successful assessment and due approval by the National Insurance Commission (NAICOM).

Hence, in this new position, he will oversee the Group Retail Division, with a mandate to drive growth across the group retail businesses and retaining AIICO as an industry leader.

Brief Profile of Olusola Ajayi

He is an experienced business leader with over fifteen years’ leadership positions in management consulting and insurance in Nigeria and the United Kingdom. He joined AIICO in 2009 as head of the Business Strategy and Transformation teams.

Mr. Olusola currently serves as Chairman of the Board of AIICO Multishield Limited, the Group’s Health Maintenance Organization (HMO). He holds an MBA from INSEAD and obtained his first degree in Chemical Engineering from the University of Lagos. Sola is a certified Project Manager as well as a Senior Member of the Chartered Insurance Institute of Nigeria.

Prior to joining AIICO, Olusola worked at the prestigious consulting firm Accenture (Lagos) in the Financial Services market unit, before joining Deloitte Consulting (London, UK). As a business consultant in both firms, he supported/led business transformation initiatives in Strategy, Process Optimization and Technology Deployments.

According to records, in 2013, Sola assumed leadership of the retail life insurance business, and has led the transformation of the agency business, by deploying cutting-edge solutions and enabling capabilities which has resulted in significant growth in the company’s annual premiums and asset under management (AUM).




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