SUNU Assurances Nigeria Board Changes: New Executive Director

SUNU Assurances Nigeria Plc disclosed two board-level changes effective from early 2026. Mrs.

Olajumoke Bakare, who had served as an Independent Non-Executive Director since receiving regulatory approval in April 2022, resigned effective 1 April 2026. The Board acknowledged her contributions to governance, sound judgment, and committee work during her roughly four-year tenure.

Simultaneously, the company confirmed the appointment of Mr. Olayinka Adaramola as Executive Director, Technical Operations, a role he assumed in February 2026.

Adaramola brings over two decades of insurance industry experience spanning underwriting, claims, and strategic operations, with prior stints at Leadway Assurance and Capital Express Indemnity Insurance Limited. His academic background includes an HND in Insurance and an MBA in Marketing, and he holds Associate membership of the Chartered Insurance Institute of Nigeria.

The board now comprises nine directors, including the Chairman, Managing Director/CEO, two Executive Directors, and five Independent Non-Executive Directors. For retail investors, the key takeaway is that SUNU Assurances is reinforcing its technical and operational leadership at a time when Nigerian insurers face pressure to improve claims efficiency and underwriting discipline.

Investors should watch whether this appointment translates into improved loss ratios, stronger policy retention, and enhanced operational results in upcoming financial disclosures.