Prudential Zenith Life Insurance Limited has announced the appointment of Funmilayo Abimbola Omo as its new Managing Director and Chief Executive Officer.

The company also named ‘Tokunboh Ishmael as the new Chair of its Board of Directors.

The appointments followed Prudential Plc’s recent acquisition of the remaining 49 per cent of shares in Prudential Zenith Life, giving it full ownership of the company.

Omo takes over the leadership of the company with experience in the insurance and financial services sectors, while Ishmael brings over two decades of experience in investment banking, private equity, and business development.

The Chief Executive Officer for Africa at Prudential, Emmanuel Aryee, said the new appointments reaffirmed the group’s commitment to building its presence in Nigeria and the broader African market.

Under Prudential’s full ownership and the new leadership, Prudential Zenith Life stated that it would leverage global expertise and its bancassurance partnership with Zenith Bank to improve accessibility to its insurance products.

Prudential Zenith Life became a fully owned subsidiary of Prudential plc on September 26, 2024. As of December 2022, the company had a gross written premium of N6.3bn.

The PUNCH reported that Prudential Plc has announced its intention to acquire the remaining shares of its joint venture, Prudential Zenith Life Insurance Limited, taking full ownership of the Nigerian insurance firm.

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