SONARWA Insurance Company has appointed Segun Durojaiye as the new Acting Managing Director/Chief Executive Officer (CEO) of the company.

Durojaiye succeeds Corneille Karekezi, who was also appointed to a bigger posting as Deputy Managing Director to African Reinsurance Corporation (Africa Re).

According to SONARWA officials, Karekezi joins Africa Re from SONARWA, where he was employed from 1995 as Deputy Head of the Commercial Department before making his way into the position of CEO in 2008.

He also joins Africa Re at a stage where the company is on the verge of developing its internal risk management procedures throughout the past two years and is on its way to establishing an integrated enterprise risk management (ERM) framework.

The insurance company maintains a strong competitive position throughout the entire African reinsurance market. Currently, Africa Re’s shareholders includes 41 African member governments, five development financial institutions and a little over 100 other African insurance and reinsurance companies.

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