Lagos, 15th January 2025:
UNIVERSAL INSURANCE PLC: APPOINTMENT OF MANAGING DIRECTOR/CHIEF EXECUTIVE OFFICER
Universal Insurance Plc. (the Company) wishes to inform Nigerian Exchange Limited, its shareholders and the public of the appointment of Dr. Japhet Ogueri Duru as the Managing Director/Chief Executive Officer of the Company effective 10th January 2025.
Dr.DurujoinedUniversalInsurance Plc.on22ndAugust2024astheExecutiveDirector,TechnicalOperations.On26th September2024, he wasmandated to act asthe ManagingDirector/CEO ofthe Company followingthe departure of the former MD/CEO, Dr. Benedict Ujoatuonu. He was thereafter confirmed by the Company's Board of Directors as the substantive MD/CEO and subsequently received the approval of the National Insurance Commission (NAICOM).
He is an accomplished Chartered Insurer, risk analyst and administrator equipped with a well-recognized record of accomplishment in an Executive Board role and Management skills with over three (3) decades of versatile and trusted experience in the Insurance Industry.
Dr. Duru holds a BSc (Hons) in both Economics and Insurance from the Imo State University Owerri and St Monica University,Cameroun;MastersinFinance(MSc)fromtheLagosStateUniversityandaPhDinBusinessAdministration from the CharismaUniversity in Turks& Caicos Island.He recently baggedaPhD inFinance from LeadCity University, Ibadan.
He is a Fellow of the Chartered Insurance Institute of Nigeria and an Associate member of the Nigeria Institute of Management (Chartered), Certified Pension Institute of Nigeria, and Chartered Institute of Administration and has also undergone various certification programs on leadership and management.
Dr. Duru started his insurance career at Valid Assurance Company Limited, and has worked for various insurance organizations like, Central Insurance Company Ltd (now Linkage Assurance Plc), DBLS Insurance Brokers Ltd, KBL Insurance Ltd, International Energy Insurance Plc, Stanbic IBTC Insurance Brokers Ltd, Heirs Insurance Brokers Ltd, Old Mutual Nigeria General Insurance Company Ltd, and Heirs General Insurance Ltd; where he gained valuable experience in underwriting, risk management, reinsurance, claims administration, business development, insurance broking and customer service.
He has previously worked as the Head of Underwriting, Head of Technical Operations, Executive Director (Technical)/ChiefOperatingOfficer,andAg.ManagingDirector/CEOatHeirsGeneralInsuranceLimitedbeforejoining Universal Insurance Plc.
He was once a Chief Examiner of the Chartered Insurance Institute of Nigeria (CIIN) and a part-time lecturer at the Lagos State Polytechnic, where he also served as the external examiner. Dr Duru was a council member of the Chartered Insurance Institute of Nigeria (CIIN). He is a motivational speaker and a facilitator of insurance and management courses.
Dr Duru is happily married, with four (4) children and he enjoys reading books, imparting knowledge and travelling.
Signed:
Chinedu A. Onyilimba, Esq.
Company Secretary/Legal Adviser.