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Chukwuma Sets With Team To Reposition Nigeria Re

Substantive Managing Director of Nigeria    Reinsurance Corporation, Mrs. Isioma Chukwuma, has said that she planned to reposition the company in order to be a strong reinsurance company that it used to be.

Chukwuma emerged the managing director after serving the company in different capacities for 29 years.
She said, “We want to reposition Nigeria Re as a foremost reinsurance company in order to take its position in the insurance industry.”

Nigeria Re’s Chief Executive, Mrs Isioma Chukwuma in her remarks expresses her profound gratitude to Barr Ibrahim for his vision to take Nigeria Re to the next level in the insurance industry.

She says, “The journey is tedious and the challenges are glaring but with the assurance that you have given to this management team, l know the sky is our limit”.

”We know where Nigeria Re was in the past and we also know where it should have been and where it should be in no distance future. We are also aware of the fact that a lot of work needs to be done to achieve the dream”.
“I want to thank you for given me a management team to work with. I must confess that it had not been easy working without a full compliment of the management but with the full management team in place, l know we can set the ball rolling in Nigeria Re”

Isioma Chukwuma was appointed on acting capacity as Chief Executive of Nigeria Re after the resignation of the former Managing director, Mr Joe Ameh late last year

The core investor in NICON Insurance and the Nigeria-Re, Bar. Jimoh Ibrahim and the federal government had injected N25 billion into the two companies as required by the agreement which ended the eight months face-off between NAICOM and Barr Jimoh Ibrahim.

One of the conditions was the injection of N17.3 billion into the NICON Insurance and N7.3 billion into the Nigerian Re within 60 days of the inception of the agreement which he even surpassed by two weeks. Barr. Ibrahim in July this year presented Union Bank draft and Intercontinental Bank draft worth N8.6 billion each for NICON Insurance and an AfriBank draft worth N7.5 billion.

The two companies’ licenses were renewed license on Friday, August 29, 2008 by the insurance regulatory body. And the License took effect from the very day it was issued to them.


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