By Rosemary Onuoha

Mr. Remi Olowude, Executive Vice Chairman/Chief Executive Officer, Industrial and General Insurance Plc, IGI, in the early hours of yesterday, died in a hospital in the United States, after a protracted illness.

According to a source in the company, Oluwode died from an undisclosed ailment in the US, where he was taken to few weeks after his health deteriorated.

As a result of his death, anxiety is now mounting over the fate of Industrial & General Insurance Plc, IGI.

Olowude, is believed to have passed away yesterday in a hospital in the US, leaving a bleak future for IGI.

Recall that  Olowude was elected as the Chairman of the Nigerian Insurers Association, NIA, in 2012 to head the Association for two years but his ill health did not permit him to run the affairs of the body.

IGI has been recording a poor performance in the insurance market as the company  failed to submit its financial results to the regulatory authorities in the last two years. Also, the company has not paid its staff for some time now.  Consequently, stakeholders are worried that the demise of Oluwude will have adverse effects on the company.

Olowude had his formal education in Economics both at the University of Lagos (1970-73) and the University of Santa Clara, California, United States (1976).

He was also an Associate of the Chartered Insurance Institute of London and had delivered papers at various fora on wide-ranging topics.”

He has a total of 28 years’  experience in Insurance Management.