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Mutual Benefits Assurance appoints new MD

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By Cynthia Alo

Mutual Benefits Assurance Plc has announced the appointment of Femi Asenuga as the new Managing Director/Chief Executive Officer (CEO), following the retirement of Olusegun Omosehin as its Managing Director.

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The company disclosed this in a statement signed by its Chief Compliance Officer, Mr. Jide Ibitayo, stating that the appointment of Asenuga is subject to regulatory approvals.

According to the statement, the former MD’s retirement took effect from December 23, 2019, after he has served the firm for 10 years.

The company’s board appreciated Omosehin’s contributions over the years and wished him the best in his future endeavour.

Asenuga holds a Master’s Degree in Business Administration and a Bachelor’s Degree in Insurance from the University of Lagos and an Associate of the Chartered Insurance Institute of Nigeria (CIIN).

He was the best graduating student in the final of the B.Sc. Honours Insurance Examination, and won the Femi Johnson & Co. prize as well as the Unity Life & Fire Insurance Company award for being the best overall graduating student in the Department of Insurance for the 1989/1990 session.

He started his insurance career with Metropolitan Trust Insurance Company in 1993. He moved to Custodian and Allied Insurance as a pioneer manager in the underwriting department.

He is an alumnus of Lagos Business School and the Said Business School of the University of Oxford, where he attended the Oxford Advanced Management & Leadership Programme.

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He was until his appointment, the Managing Director/Chief Executive Officer of Mutual Benefits Life Assurance Limited.


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