Coronation Insurance Plc has announced the resolutions passed at its 67th Annual General Meeting (AGM) held virtually on Wednesday, August 13, 2025.
During the meeting, shareholders received the audited financial statements for the year ended December 31, 2024, along with the reports of the Directors, Auditors, and Audit Committee.
Board Appointments and Re-elections
Shareholders approved the appointment of Mr. Augustine Alegeh, SAN, CON as an Independent Non-Executive Director, subject to the “No Objection” approval from the National Insurance Commission (NAICOM).
They also re-elected Mr. Mutiu Sunmonu, CON as a Non-Executive Director pursuant to Section 282 of the Companies and Allied Matters Act 2020, despite being over the statutory age of 70, as well as Mrs. Ibijoke Adenuga, who also retired by rotation and offered herself for re-election.
Auditors’ Appointment and Remuneration
Ernst & Young was re-appointed as the company’s External Auditors to hold office until the conclusion of the next AGM, with the Directors authorised to fix their remuneration for the 2025 financial year. Shareholders also noted the disclosed remuneration of the company’s managers.
Statutory Audit Committee
The following members were elected and approved to serve on the Statutory Audit Committee:
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Shareholders’ Representatives: Mr. Chinwendu Achara, Mrs. Mary Joke Shofolahan, and Mr. Adeniyi Adebisi.
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Board Nominees: Mr. Abubakar Jimoh and Mrs. Titilayo Osuntoki.
Special Business Resolutions
Shareholders granted a general mandate for recurrent related-party transactions necessary for the company’s operations until the next AGM.
The Directors were also authorised to appoint an independent consultant to conduct the Annual Board Performance Appraisal for the financial year ending December 31, 2025.
The meeting was formally concluded with all resolutions passed as presented by the Board.
