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Chuks Udo Okonta
The Board of Directors of Royal Exchange Plc, Nigeria’s leading Insurance and Asset Management Group has announced the appointment of Benjamin Agili as the Managing Director/Chief Executive Officer (MD/CEO) of Royal Exchange General Insurance Company (REGIC), following the confirmation of his appointment by the National Insurance Commission, (NAICOM).
Announcing the appointment recently, the Chairman, Board of Directors, Royal Exchange Plc, Kenneth E. Odogwu, said that the Agili, with his extensive experience and knowledge of the insurance industry, will seek to drive the continuous growth and profitability of Royal Exchange General and make the company a market leader in general insurance business in Nigeria.
Agili, as the new Managing Director of Royal Exchange General Insurance Company, is to oversee the continued growth and expansion drive of Royal Exchange General, as the company seeks to be amongst the top five general insurance companies operating in Nigeria.
Agili holds a Higher National Diploma (HND) in Building Technology from Institute of Management and Technology, Enugu and a Masters in Business Administration (MBA, Financial Management) from Lagos State University, Ojo, Lagos State.
Following his completion of the mandatory Youth Service programme, he worked briefly as a Project Manager with Savannah Enterprises Limited before he joined the insurance industry as a Superintendent with UNIC Insurance Plc, rising through the ranks, culminating in his appointed the Area Manager, Eastern Operations in 2000.
Agili joined Royal Exchange Assurance Nigeria Plc, (as it was then known) in 2003 as an AGM Eastern Operations and later elevated to Regional Director, East in 2007. He then left Royal Exchange to join Insurance PHB as General Manager, Branch Marketing in 2008 and rejoined the company in 2010, following a stint as the Managing Director of an Insurance Services firm.
At Royal Exchange General Insurance Company (REGIC), Mr. Agili was appointed Deputy General Manager/Head, Business Development with direct responsibility for generating new business for the company, nationwide, before he was appointed the Director, Southern Directorate and later, Director, Lagos & Western Directorate in January, 2015.
He has garnered over twenty-five years of cognate Insurance experience cutting across vital areas of Insurance practice such as underwriting, claims, risk management, marketing and branch operations.
Agili, is well exposed and trained, having attended several courses, seminars and workshops within and outside Nigeria. He is an alumnus of the famous Swiss – Re Insurance Training Centre, Zurich, Switzerland. He is a Fellow, Chartered Insurance Institute of London (FCII), and the Insurance Institute of Nigeria (FIIN).
It would be recalled that in January, 2016, Royal Exchange Plc also announced the appointment of Alhaji Auwalu Muktari as the Ag. Group Managing Director, as well as that of Mr. Francis Okoli as the Group Chief Financial Officer respectively.
About Royal Exchange Plc
Royal Exchange Plc started operations in 1921 and continues to be driven by innovation and a determination to offer services that are of exceptional value to its customers. Following the recapitalization exercise in 2007, the company was reorganised into a group structure comprising Royal Exchange Plc as the holding company and five strategic subsidiaries namely:
• Royal Exchange General Insurance Company Limited (Non-Life Insurance Services)
• Royal Exchange Prudential Life Plc (Life Assurance Services)
• Royal Exchange Finance and Investments Limited (Financial Advisory Services)
• Royal Exchange Healthcare Limited (HMO and Health Insurance)
• Royal Exchange Microfinance Bank Limited (Banking Services)