Law Union & Rock Insurance Plc has informed the Nigerian Stock Exchange (NSE) of the exit of its Head, Human Capital Management, Eyoanwan Ndiyo-Aiyetan.
Ndiyo-Aiyetan’s exit took effect from Friday, September 21, 2018.
Pending replacement, Sulaiman Akintola, a Human Capital Management Officer will act in Ndiyo-Aiyetan’s capacity.
Ndiyo-Aiyetan is an experienced human resources manager. She had masters in Labour Law & Industrial Relations from Lagos State University and Higher National Diploma in Mass Communications from the Federal Polytechnic Oko, Anambra State.
She is a consummate human resource professional, Associate Member, Nigeria Institute of Management (AMNIM), Member, Chartered Institute of Personnel Management (CIPM), Ndiyo-Aiyetan also attended the Senior Management Program (SMP) at the Prestigious Lagos Business School.
Her human resources management experience cut across aviation, banking and insurance industries in the past two decades. She started her career as an officer with Landover Aviation Company Limited in 1998 and grew through the rank to become the company Head, Human Resources.
Prior to her appointment at Law Union and Rock Insurance Plc in 2017, she was working with Industrial & General Insurance Plc (IGI) as Principal Manager.
Recall that the company’s Chief Marketing Officer (CMO), Steve Ajudua had exited. In a released statement by the insurance firm, Ajudua’s exit took effect on September 15, 2018.
Pending the appointment of a substantive CMO, the incumbent Branch Coordinator, Wole Yekinni was to act as the CMO.
Law Union & Rock Insurance Plc had released its unaudited financial statement for the period ended 30th June 2018.
During the half-year period, the insurance company’s Gross Premium Income dropped to N2.14 billion in 2018 from N2.16 billion in June 2017. This represented a 1 percent decrease. Profit before tax, however, increased by 14 percent from N375 million in June 2017 to N428.5 million in June 2018.
Profit after tax also increased by 14 percent from N319 million in June 2017 to N364 million in June 2018.
Recall in July, that the company also announced the exit of its Chief Finance Officer (CFO), Olabisi Olayiwola.
Law Union & Rock Insurance Plc is a first generation insurance company, which began operation in 1951. In January 1999, it became a composite insurance company when it was registered to market all classes of life and general insurance policies subject to the Insurance Act 2003.
The insurance company was listed on the Nigerian Stock Exchange (NSE) on the 9th of July 1990.
Shares of Law Union & Rock Insurance Plc traded at N0.60 on the floor of the NSE yesterday.