FBN Insurance Limited Appoints Tunde Mimiko as New Managing Director

FBN Insurance Limited has appointed Tunde Mimiko as its new Managing Director and Chief Executive Officer, following the retirement of Mr. Val Ojumah.

According to the statement released by FBN Insurance Limited, Mr Val Ojumah will remain with the company until April 2023 in an advisory role to support a smooth transition. 

Val Ojumah had been the Managing Director since the inception of FBN Insurance. He has helped to grow the brand to become one of the most successful and celebrated businesses in Nigeria.

The Chairman of FBN Insurance, Dr Femi Oyetunji, extols the credentials of the newly appointed MD, Tunde Mimiko. 

“Tunde brings over two decades of versatile and trusted financial services experience to our business, with a track record of excellence and integrity.  We are confident of his ability to take FBN Insurance to greater heights.” He said. 

Before joining FBN Insurance, Tunde Mimiko was an Executive Director (Operations) at FBN General Insurance. As a seasoned insurance professional, he has over 23 years in life and general insurance traversing sales and marketing, strategy and business development, mission planning and technical development.

Tunde Mimiko holds an MBA in Financial Management, from Lagos State University, he is also a fellow of the Chartered Insurance Institute of Nigeria, a fellow of Insurance Institute of Canada and an Alumnus of Lagos Business School. 

The new MD of FBN Insurance is expected to bring his wealth of experience to the company. 

Meanwhile, the chairman of FBN Insurance also appreciated the outgoing MD for his rare and outstanding service. 

“We thank Val Ojumah for his rare leadership, service, dedication, and strong commitment to the success of FBN Insurance. Under Val’s leadership, FBN Insurance has experienced monumental growth and is today recognised as Nigeria’s leading insurance company.” He stated. 

Incorporated in 2010, FBN Insurance was awarded the best Life Insurance Company in 2014. The company acquired a 100 percent stake in Oasis Insurance Plc and overturn Oasis’s loss position within one year. The Oasis deal won FBN Insurance the M&A Atlas Award (Africa deal of the year). 

In 2017, FBN Insurance was awarded the fastest growing insurance and best Life Insurance Company in Nigeria. In 2018, FBN Insurance was rated A+ by a Credit Rating Agency, Agusto and Co, and awarded the Most Profitable Life Insurance Company in Nigeria.