FBS Reinsurance Limited has announced a leadership change following the resignation of its founding chief executive officer, Fola Daniel, and chief operating officer, Steve Kyerematen.
The reinsurer has appointed Ganiyu Musa as the new Managing Director and Chief Executive Officer. Musa, who previously served as Deputy Managing Director at Africa Reinsurance Corporation and Group Managing Director at Cornerstone Insurance Plc, brings extensive experience to the role. Additionally, Shola Ajibade, formerly Director of Operations, has been promoted to Executive Director of Technical and Business Development.
Both Daniel and Kyerematen will continue their association with FBS Reinsurance as non-executive directors on the board. This transition reflects the company’s commitment to maintaining strong leadership while steering through its next phase of growth.
FBS Reinsurance, established in Nigeria and operational since January 2021, has seen a significant increase in gross premiums over the past three years, recording N7.91 billion in 2021, N16.59 billion in 2022, and N31.44 billion in 2023.
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