Wapic Insurance News

Leadership

Leadership

Mr. Frank W. Beecham - Chairman

Mr. Frank W. Beecham is a lawyer by profession and a past National President of the Ghana Bar Association. He has spent the greater part of his working life in banking, having joined Merchant Bank Ghana Ltd as a Banking Officer in 1977. He served in several units and departments of the Bank and its subsidiaries and left the Bank, after twenty two years, as a General Manager. Frank is currently a partner in the law firm of Bram-Larbi, Beecham & Co. He has served and continues to serve on several boards.

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Leadership

Mr. Adamu Atta - Non-Executive Director

Mr. Adamu Atta is the Chief Executive, Matad Group Nigeria Ltd, an investment company with operations across Africa. He also sits on the Board of a number of first class companies. An astute business man with over two decade experience in financial management and consulting, he has developed an enviable portfolio of clients. His consultancy provides services for worldclass companies such as Shell, Nigerian National Petroleum Corporation (NNPC), Nigerian Liquefied Natural Gas Company (NLNG), First Bank of Nigeria Plc. and Lafarge Plc. amongst others. His involvements also extend into projects for the World Bank, UNICEF, DFID and HYSON mainly in the areas of infrastructure, financial services, capacity building, hospitality and tourism, housing, transportation and logistics. His other interests include textile and garments, cement, food and beverage production. He has also served on various Committees in Oil and Gas and Textile sectors and was a pioneer member of the Nigerian Business Forum. He holds a B.A. in International Relations and Economics and an MA in Development Economics from the United States International University

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Leadership

Dolapo Ogundimu - Non-Executive Director

Mr. Dolapo Ogundimu is a seasoned banker with almost three decades of high-level professional banking experience in the sub-region. He has been recognized as a change manager and contributor to the development of the financial services industry in Nigeria, Sierra Leone and Ghana. Until his appointment in 2012 as Managing Director of Access Bank Ghana, Mr. Ogundimu pioneered Guaranty Trust Bank to become one of the most successful banks in the industry. He was also the pioneer Managing Director of GT Bank, Sierra Leone and prior to that appointment had held several management positions at GT Bank Nigeria. Mr. Ogundimu is an alumnus of the Kellogg School of Management, Executive Management Programme of the Columbia Business School (USA), Harvard Business School, International Institute for Management Development (IMD) Switzerland and the Lagos Business School. He also holds a B.Sc and an MBA from the Ogun State University in Nigeria.

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Leadership

Adedayo Arowojolu - Managing Director, Wapic Ghana

Adedayo Arowojolu has several years’ experience in insurance with expertise in sales, and is knowledgeable in underwriting, claims administration and reinsurance. Adedayo has Bachelors and Masters degrees from the University of Ibadan. He also holds a Masters in Business Administration. Adedayo worked at Royal Exchange Insurance for over 14 years before he joined the corporate sales team of Wapic Insurance in 2013.

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Leadership

Abena Amoah - Non-Executive Director

Ms. Abena Amoah is an accomplished financial and investment advisor with over 15 years of work experience. She started her career with Strategic Africa Securities where she worked for ten years rising to the position of Executive Director. She is currently the Chief Executive Officer of Baobab Advisors, a financial advisory services company she founded in 2011. Prior to that, she headed the Ghana office of Renaissance Capital; a leading investment bank in Moscow. Abena holds a First Class Honours in Bsc Administration from the University of Ghana Business School and also attended the University of Colorado’s Daniel College of Business.

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Leadership

Mr. Olufemi Obaleke - Non-Executive Director

Olufemi Obaleke is Executive Director, Subsidiaries. He brings on board over two decades of experience from a number of leading Banks in Nigeria including Access Bank Plc where was he was General Manager Business Banking until he joined Wapic Insurance Plc. His wealth of experience covers Sales, Business Development, International Operations and Branch Expansion. Mr. Obaleke is a member of the Chartered Institute of Bankers (CIB). He holds a B. Ed. in Management Economics from the University of Ibadan and an MBA from Abubakar Tafawa Balewa University. He has attended many professional and Executive Management development programs in leading Business Schools locally and internationally.

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Leadership

Mr. Albert G. Brock – Non-Executive Director

Mr. Albert G. Brock is the founder and Managing Director of All Risks Consultancy Ltd; an Insurance Broking and Consultancy Company in Ghana. He is a Fellow of the Insurance Institute of Ghana (F.I.I.G) and has over four decades experience in insurance. He started his insurance career at the State Insurance Corporation of Ghana in December, 1969 from whence he travelled to London to further his Insurance career and was awarded an Associateship Diploma (A.C.I.I) – Life and Pensions in September 1979. Mr. Brock has worked with Abbey Life Assurance Company and Horncastle, Crawford & West (Insurance Brokers) both in London. He also assisted in the establishment of Co-operative Mutual Society of Ghana and the National Co-operative Insurance Company of Nigeria in his capacity as Technical Advisor. Having served as president of the Ghana Insurance Brokers Association (GIBA) and Ghana South African Business Chamber, Mr. Brock currently serves on the board of several companies

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Leadership

Mr. Adedayo Arowojolu – Managing Director

Dayo, a seasoned insurance professional with experience covering special risks, underwriting and claims administration, has nearly two decades of cognate experience in the insurance industry, particularly in the Oil and Gas segment. Prior to Wapic, Dayo worked at Royal Exchange General Insurance where he facilitated the growth of the company’s Oil and Gas Portfolio by 1250%. Dayo joined Wapic Insurance Plc. in 2012 as the Head of the Oil and Gas group, and was named Managing Director of Wapic Insurance (Ghana) Ltd. as an outcome of the execution of our disciplined succession plan and in line with the Company’s ethical and solid corporate governance practices.

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Leadership

Abayomi Ogunshola – Head, Technical Operations

Abayomi is a chartered insurance practitioner with over fifteen years’ experience in Underwriting, Claims, Reinsurance Administration and Risk Management. He holds a Master’s Degree in Business Administration from the Lagos State University and is an Associate of the Chartered Insurance Institute of Nigeria. He is also a member of the Nigeria Institute of Management. Abayomi heads the Technical Division of Wapic Insurance (Ghana) Limited where he sees to the effective management of clients of the company through his expertise in premium computation and claims settlement.

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Leadership

Moses Tsiquaye – Chief Finance Officer

Moses Tsiquaye is a Chartered Accountant with a membership with the Association of Chartered Certified Accountants (ACCA) – UK and the Institute of Chartered Accountants Ghana. He holds MBA Finance from the University of Leicester, UK. He has held senior management positions in a number of private companies with international affiliations and has also managed many audit engagements spanning from medium to large companies including AngloGold Ashanti, VALCO, Agricultural Development Bank, Twifo Oil Palm Plantation, Ghana Water Company Limited, Road Sector Development Programme (RSDP), etc. Moses worked with Deloitte & Touche for ten (10) years where he started as a trainee accountant and rose through the ranks to a senior management position. He has also worked with PHC Motors Limited, Amadeus Marketing Nigeria Limited, Broll Ghana Limited, Probitas Partners, etc. where he served in various managerial positions in Finance and Accountancy.

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Leadership

Modupe Sofolahan - Head, Internal Audit

Modupe Sofolahan holds a BSc. Degree in Accounting from the University of Ife (Obafemi Awolowo University Ile- Ife) Nigeria. She is an Associate Chartered Accountant of Nigeria with fourteen (14) years working experience in Auditing and Account, Eight (8) of which has been in the Insurance Industry and the rest as an External Auditor. She has worked both locally and internationally. Prior to joining Wapic Insurance (Ghana) Limited, she worked with Equity Assurance (Ghana) Ltd and RegencyNem Insurance.

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Leadership

Seth Sorgah – Head, Sales & Distribution

Seth Sorgah has several years’ experience in insurance with expertise in sales. He is also knowledgeable in underwriting, claims administration and reinsurance. Seth has a Bachelor’s and Master’s Degree in Business Administration from the University of Ghana. Mr. Sorgah worked with top leading Insurance Companies in Ghana including Metropolitan Insurance for over 17 years before he joined the corporate sales team of Wapic Insurance. Prior to his appointment as Head of Sales of Wapic Ghana, he was the Branch Manager of Metropolitan Life Insurance responsible for both Eastern and Volta Regional Branches of the company. He has attended many professional and Executive Management development programs in leading Business Schools locally and internationally and has won several awards including the Best MBA marketing Student.

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Leadership

Temitope Jejelowo – Head, Internal Control

Temitope Jejelowo is an experienced and meticulous accountant with a comprehensive and strategic understanding of accountancy and auditing professions. Having worked for over 10 years as auditor, Jejelowo has substantive expertise in Audit and Assurance, Taxation, Financial Management, Management consultancy and Accountancy. Temitope Jejelowo is an Associate member of the Institute of Chartered Accountants of Nigeria (ICAN), Associate member of Chartered Institute of Taxation of Nigeria (CITN), Member, Association of Chartered Certified Accountants, Diploma IFR (International Financial Reporting), United Kingdom and a Graduate member of Nigeria Institute of Management (NIM). He holds a B.Sc. in Accounting from Obafemi Awolowo University Ile-Ife Osun State, Nigeria

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Leadership

Nathaniel Akoto – Head, General Resource Management

Nathaniel Akoto has over 11 years’ experience in project implementation from various backgrounds. His experience spans from non-profit organization, manufacturing and the insurance industry. Nathaniel holds a Bachelor’s Degree in Business Administration (Accounting Option) from the Valley View University and an MBA in Human Resource Management from Wisconsin International University College. He is the former head of the Human Resource Department and currently heads the General Resource Management function of Wapic Ghana.

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Leadership

Joseph Oppong – Risk Management

Joseph Oppong holds a Bachelor’s Degree in Business Administration from the University of Professional Studies, Accra. He has experience in underwriting, claims administration and Risk Management. Prior to his redeployment to the risk management unit, Joseph served as a claims officer of Wapic Insurance. He has also attended training programs in areas of underwriting and claims, operational risk, counterparty risk, market and liquidity risk, etc. both in Ghana and Nigeria.

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Mr. Frank W. Beecham is a lawyer by profession and a past National President of the Ghana Bar Association. He has spent the greater part of his working life in banking, having joined Merchant Bank Ghana Ltd as a Banking Officer in 1977. He served in several units and departments of the Bank and its subsidiaries and left the Bank, after twenty two years, as a General Manager. Frank is currently a partner in the law firm of Bram-Larbi, Beecham & Co. He has served and continues to serve on several boards.
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Mr. Adamu Atta is the Chief Executive, Matad Group Nigeria Ltd, an investment company with operations across Africa. He also sits on the Board of a number of first class companies. An astute business man with over two decade experience in financial management and consulting, he has developed an enviable portfolio of clients. His consultancy provides services for worldclass companies such as Shell, Nigerian National Petroleum Corporation (NNPC), Nigerian Liquefied Natural Gas Company (NLNG), First Bank of Nigeria Plc. and Lafarge Plc. amongst others. His involvements also extend into projects for the World Bank, UNICEF, DFID and HYSON mainly in the areas of infrastructure, financial services, capacity building, hospitality and tourism, housing, transportation and logistics. His other interests include textile and garments, cement, food and beverage production. He has also served on various Committees in Oil and Gas and Textile sectors and was a pioneer member of the Nigerian Business Forum. He holds a B.A. in International Relations and Economics and an MA in Development Economics from the United States International University
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Mr. Dolapo Ogundimu is a seasoned banker with almost three decades of high-level professional banking experience in the sub-region. He has been recognized as a change manager and contributor to the development of the financial services industry in Nigeria, Sierra Leone and Ghana. Until his appointment in 2012 as Managing Director of Access Bank Ghana, Mr. Ogundimu pioneered Guaranty Trust Bank to become one of the most successful banks in the industry. He was also the pioneer Managing Director of GT Bank, Sierra Leone and prior to that appointment had held several management positions at GT Bank Nigeria. Mr. Ogundimu is an alumnus of the Kellogg School of Management, Executive Management Programme of the Columbia Business School (USA), Harvard Business School, International Institute for Management Development (IMD) Switzerland and the Lagos Business School. He also holds a B.Sc and an MBA from the Ogun State University in Nigeria.
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Adedayo Arowojolo has several years’ experience in insurance with expertise in sales, and is knowledgeable in underwriting, claims administration and reinsurance. Adedayo has Bachelors and Masters degrees from the University of Ibadan. He also holds a Masters in Business Administration. Adedayo worked at Royal Exchange Insurance for over 14 years before he joined the corporate sales team of Wapic Insurance in 2013.
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Ms. Abena Amoah is an accomplished financial and investment advisor with over 15 years of work experience. She started her career with Strategic Africa Securities where she worked for ten years rising to the position of Executive Director. She is currently the Chief Executive Officer of Baobab Advisors, a financial advisory services company she founded in 2011. Prior to that, she headed the Ghana office of Renaissance Capital; a leading investment bank in Moscow. Abena holds a First Class Honours in Bsc Administration from the University of Ghana Business School and also attended the University of Colorado’s Daniel College of Business.
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Olufemi Obaleke is Executive Director, Subsidiaries. He brings on board over two decades of experience from a number of leading Banks in Nigeria including Access Bank Plc where was he was General Manager Business Banking until he joined Wapic Insurance Plc. His wealth of experience covers Sales, Business Development, International Operations and Branch Expansion. Mr. Obaleke is a member of the Chartered Institute of Bankers (CIB). He holds a B. Ed. in Management Economics from the University of Ibadan and an MBA from Abubakar Tafawa Balewa University. He has attended many professional and Executive Management development programs in leading Business Schools locally and internationally.
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Mr. Albert G. Brock is the founder and Managing Director of All Risks Consultancy Ltd; an Insurance Broking and Consultancy Company in Ghana. He is a Fellow of the Insurance Institute of Ghana (F.I.I.G) and has over four decades experience in insurance. He started his insurance career at the State Insurance Corporation of Ghana in December, 1969 from whence he travelled to London to further his Insurance career and was awarded an Associateship Diploma (A.C.I.I) – Life and Pensions in September 1979. Mr. Brock has worked with Abbey Life Assurance Company and Horncastle, Crawford & West (Insurance Brokers) both in London. He also assisted in the establishment of Co-operative Mutual Society of Ghana and the National Co-operative Insurance Company of Nigeria in his capacity as Technical Advisor. Having served as president of the Ghana Insurance Brokers Association (GIBA) and Ghana South African Business Chamber, Mr. Brock currently serves on the board of several companies
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Mrs. Adekoya started her professional career with Lambert Willis & Associate (Insurance Brokers). She spent 23 years at Law Union and Rock where she rose through the ranks gathering experience in the technical department. Prior to joining Wapic, Mrs. Adekoya was the Head Institutional Business Development Division at Cornerstone Insurance. She was appointed Managing Director of Wapic Insurance Plc on November 1, 2015. Mrs. Adekoya has a Bachelor of Science and Maters of Business Administration both from the University of Lagos. She is a Fellow of the Chartered Insurance Institute of Nigeria and an Associate of the Chartered Insurance Institute, London.
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Oyebode Ojeniyi is an Executive Director. He is a consummate professional with over two decades of experience in financial services and principally in Banking. His experience covers Banking Operations (Domestic & International), Sales and Business Development, Structured Financing and Risk Management, Private Equity Investments, General Administration, Risk Assessment Reviews and Audit, Training and People Development. Prior to his appointment at Wapic Insurance, Bode was the Deputy General Manager and Regional Head for Business Banking at the South West region of Access Bank Plc. He had also worked at Eco Bank Nigeria Plc for over a decade and half during which period he held various key management positions. He represented Ecobank on the Bankers Sub-Committee on SMEEIS as well as on the Presidential Advisory Committee on SMEEIS and Microfinance. Bode brings a wealth of deep technical and business development experience to the Board. He holds a Bachelor of Science Degree and a Masters of Science Degree in Agricultural Economics from the University of Ibadan. He also has a Masters in Business Administration from Ogun State University. Mr. Ojeniyi is a Fellow of the Institute of Credit Administration of Nigeria and the Institute of Strategic Management of Nigeria. He is a Member of the Chartered Insurance Institute (UK) and an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria.
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Olufemi Obaleke is Executive Director, Subsidiaries. He brings on board over two decades of experience from a number of leading Banks in Nigeria including Access Bank Plc where was he was General Manager Business Banking until he joined Wapic Insurance Plc. His wealth of experience covers Sales, Business Development, International Operations and Branch Expansion. In his new role, Femi will deepen and develop the Company’s relationship in the commercial and government segments within the Nigerian insurance landscape drawing on his wide industry experience. Femi is a member of the Chartered Institute of Bankers (HCIB). He holds a B. Ed. in Management Economics from the University of Ibadan and an MBA from Abubakar Tafawa Balewa University. He has attended many professional and Executive Management development programs in leading Business Schools locally and internationally.
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Dayo, a seasoned insurance professional with experience covering special risks, underwriting and claims administration, has nearly two decades of cognate experience in the insurance industry, particularly in the Oil and Gas segment. Prior to Wapic, Dayo worked at Royal Exchange General Insurance where he facilitated the growth of the company’s Oil and Gas Portfolio by 1250%. Dayo joined Wapic Insurance Plc. in 2012 as the Head of the Oil and Gas group, and was named Managing Director of Wapic Insurance (Ghana) Ltd. as an outcome of the execution of our disciplined succession plan and in line with the Company’s ethical and solid corporate governance practices.
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Abayomi is a chartered insurance practitioner with over fifteen years’ experience in Underwriting, Claims, Reinsurance Administration and Risk Management. He holds a Master’s Degree in Business Administration from the Lagos State University and is an Associate of the Chartered Insurance Institute of Nigeria. He is also a member of the Nigeria Institute of Management. Abayomi heads the Technical Division of Wapic Insurance (Ghana) Limited where he sees to the effective management of clients of the company through his expertise in premium computation and claims settlement.
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Moses Tsiquaye is a Chartered Accountant with a membership with the Association of Chartered Certified Accountants (ACCA) – UK and the Institute of Chartered Accountants Ghana. He holds MBA Finance from the University of Leicester, UK. He has held senior management positions in a number of private companies with international affiliations and has also managed many audit engagements spanning from medium to large companies including AngloGold Ashanti, VALCO, Agricultural Development Bank, Twifo Oil Palm Plantation, Ghana Water Company Limited, Road Sector Development Programme (RSDP), etc. Moses worked with Deloitte & Touche for ten (10) years where he started as a trainee accountant and rose through the ranks to a senior management position. He has also worked with PHC Motors Limited, Amadeus Marketing Nigeria Limited, Broll Ghana Limited, Probitas Partners, etc. where he served in various managerial positions in Finance and Accountancy.
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Modupe Sofolahan holds a BSc. Degree in Accounting from the University of Ife (Obafemi Awolowo University Ile- Ife) Nigeria. She is an Associate Chartered Accountant of Nigeria with fourteen (14) years working experience in Auditing and Account, Eight (8) of which has been in the Insurance Industry and the rest as an External Auditor. She has worked both locally and internationally. Prior to joining Wapic Insurance (Ghana) Limited, she worked with Equity Assurance (Ghana) Ltd and RegencyNem Insurance.
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Seth Sorgah has several years’ experience in insurance with expertise in sales. He is also knowledgeable in underwriting, claims administration and reinsurance. Seth has a Bachelor’s and Master’s Degree in Business Administration from the University of Ghana. Mr. Sorgah worked with top leading Insurance Companies in Ghana including Metropolitan Insurance for over 17 years before he joined the corporate sales team of Wapic Insurance. Prior to his appointment as Head of Sales of Wapic Ghana, he was the Branch Manager of Metropolitan Life Insurance responsible for both Eastern and Volta Regional Branches of the company. He has attended many professional and Executive Management development programs in leading Business Schools locally and internationally and has won several awards including the Best MBA marketing Student.
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Temitope Jejelowo is an experienced and meticulous accountant with a comprehensive and strategic understanding of accountancy and auditing professions. Having worked for over 10 years as auditor, Jejelowo has substantive expertise in Audit and Assurance, Taxation, Financial Management, Management consultancy and Accountancy. Temitope Jejelowo is an Associate member of the Institute of Chartered Accountants of Nigeria (ICAN), Associate member of Chartered Institute of Taxation of Nigeria (CITN), Member, Association of Chartered Certified Accountants, Diploma IFR (International Financial Reporting), United Kingdom and a Graduate member of Nigeria Institute of Management (NIM). He holds a B.Sc. in Accounting from Obafemi Awolowo University Ile-Ife Osun State, Nigeria
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Nathaniel Akoto has over 11 years’ experience in project implementation from various backgrounds. His experience spans from non-profit organization, manufacturing and the insurance industry. Nathaniel holds a Bachelor’s Degree in Business Administration (Accounting Option) from the Valley View University and an MBA in Human Resource Management from Wisconsin International University College. He is the former head of the Human Resource Department and currently heads the General Resource Management function of Wapic Ghana.
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Joseph Oppong holds a Bachelor’s Degree in Business Administration from the University of Professional Studies, Accra. He has experience in underwriting, claims administration and Risk Management. Prior to his redeployment to the risk management unit, Joseph served as a claims officer of Wapic Insurance. He has also attended training programs in areas of underwriting and claims, operational risk, counterparty risk, market and liquidity risk, etc. both in Ghana and Nigeria.
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Corporate Governance
<div class="tab-pane paraphrase" id="corporate-governance"> <p>Wapic Insurance Plc is fully committed to implementing best practice standards in Corporate Governance. The Company recognizes that Corporate Governance and Practices must balance two goals of protecting the interest of Shareholders and providing for the duty of the Board and Management to direct and manage the affairs of the Company.</p> <p>In line with our group framework, we have strengthened the corporate governance arrangements of the Company by increasing the Board Committees from four (4) to five (5), namely:</p> <div class="paraphrase"> <h3>Board Audit and Compliance Committee</h3> <ul> <li>Purpose - The Committee assists the Board in fulfilling its oversight responsibility relating to the integrity of the Company’s financial statements and the financial reporting process; the independence and performance of the Company’s internal and external auditors; and the Company's system of internal control and mechanism for receiving complaints regarding the Company’s accounting and operating procedures</li> <li>Membership – Four&nbsp;(4) Non-Executive Directors</li> <li>Frequency of meetings – At least once every quarter</li> </ul> <h3>Board Enterprise Risk Management and Governance Committee</h3> <ul> <li>Purpose – The Committee assists the Board in fulfilling its oversight responsibility relating to establishment of policies, standards and guidelines for risk management, governance and compliance with legal and regulatory requirements in the Company</li> <li>Membership – &nbsp;Five (5) Non-Executive Directors</li> <li>Frequency of meetings – At least once every quarter</li> </ul> <h3>Board Establishment and Governance Committee</h3> <ul> <li>Purpose –To advise the Board on its oversight responsibilities in relation to remuneration, other human resource matters affecting the Directors and employees of the Company and all other general matters. Specifically, the Committee is responsible for determining and executing the processes for board appointments, removal of non-performing directors and recommending appropriate remuneration for directors (both executive and non-executive) and approving remuneration for all other staff</li> <li>Membership – Four (4) Non-Executive Directors</li> <li>Frequency of meetings – At least once every quarter</li> </ul> <h3>Board Finance and Investment Committee</h3> <ul> <li>Purpose – The Committee assists the Board in fulfilling its oversight responsibility relating to management of the Company’s exposure to financial risk; management of the Company’s business plan, cash plan, balance sheet and capital structure; the Company’s capital allocation strategy, including the cost of capital; the quality of the Company’s investment portfolio and the trends affecting the portfolio; the effectiveness and administration of investment related policies including compliance with legal investment limits and the Company’s in-house investment restrictions; and providing oversight and guidance to the Company regarding all aspects of implementing the NAICOM Guidelines and compliance with other regulatory Risk based supervision framework.</li> <li>Membership – Six (6) members comprising of Five (5) Non-Executive Directors and Three (1) Executive Director</li> <li>Frequency of meetings – At least once every quarter</li> </ul> </div> <p>The over-arching goal is to ensure better strategic oversight by the Board and a more in-depth approach to Corporate Governance in the Company. Members of the Board of Directors attend regular trainings on Corporate Governance and related issues both at local and international levels. In addition, the Company Secretary provides advice to the Board on Corporate Governance best practices from time to time.</p> </div>
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