Board of Directors

In accordance with the dictates of proper Corporate Governance practices, WAICA Re is directed by a Board of Directors, comprising ten members of high repute in the Insurance/Reinsurance, Banking and Oil/Energy Industries.

The full profiles of the Directors on our Board are given below:

Mr. Kofi Duffuor


Mr. Kofi Duffuor, 52, is the Chief Executive Officer of Star Assurance Company Limited, the third largest Insurance Company in Ghana. He had his insurance training in the United Kingdom and has been in the insurance industry for over twenty (20) years. He is a highly motivated insurance executive, who possesses immense insurance underwriting and claims skills with a proven track record of achievements in the field of insurance.

He is very innovative and well oriented in insurance management, business development and marketing. Kofi holds a Master of Business Administration degree in Entrepreneurial Management from the University of Ghana. He is a Chartered Insurer and Fellow of the Chartered Insurance Institute (FCII – UK).

He has attended several conferences and seminars at home and abroad in insurance management and financial management. Prior to his appointment as Managing Director in 2001, he was the General Manager in charge of Finance and Administration.

Mr. Abiola E. Ekundayo - Managing Director/CEO

Managing Director/CEO - WAICA Reinsurance Corporation plc

Mr Ekundayo started his insurance career in 1984 with a brokerage firm and later moved to WAPIC Insurance Company Limited. He joined Globe Reinsurance Plc in December 1989.

The hard working and resourceful Mr. Ekundayo was consistently identified with the growth of the company. He was appointed Executive Director in 2000 and was later confirmed as the Deputy Managing Director in 2001. In 2007, he became the Managing Director/CEO of the company.

His experience as insurance practitioner covers large areas of the profession including brokerage, marketing, underwriting, reinsurance, investment and risk management. He piloted the company to the Francophone countries in the West Coast thus making Globe Re the first Nigerian Reinsurance Company to do business with the Francophone world, being a bilingual Executive.

He has varied and a broad spectrum experience in executive management and technical educational fields having attended courses, both locally and internationally. These include leading the team course at Lagos Business School, Reinsurance Strategic Management at the prestigious Wit Business School, University of Witwatersrand, Johannesburg, South Africa and Managing People Effectively at D & B Business Training Services, London.

He graduated from the Lagos State Polytechnic where he studied Insurance and holds a Masters Degree in Business Administration (MBA) from Lagos State University, he is a fellow of both Chartered Insurance Institute London (with specialization in reinsurance) and Chartered Institute of Marketing of Nigeria.

Mr. Fatai K. Lawal

Managing Director - Sterling Assurance Nigeria Ltd

Mr. Fatai Kayode Lawal is an accomplished Insurance Executive. He holds B.Sc. (Hons.) Insurance and MBA of the University of Lagos, in addition to Fellowship of the Chartered Insurance Institute of London and Nigeria FCII, FIIN. He is an alumnus of the prestigious Lagos Business School (CEP13).

With over twenty five years post qualification experience spanning across Insurance Broking, Direct Insurance, and Reinsurance, Mr. Lawal worked for Glanville Enthoven and Continental Reinsurance Company Limited before assuming the Chief Executive position of Refuge Insurance Company Limited (1993 – 1999) and Universe Reinsurance Company Limited (1999-2007). He is presently the Managing Director/CEO of Sterling Assurance Nigeria Limited, which is a product of a successful merger of Universe Re, Sterling Insurance and Newline Insurance in 2007.

Mr. Lawal is a Council member of both Chartered Insurance Institute of Nigeria and Nigeria Insurers Association. He is an ambassador of the International Insurance Society Inc., USA. FK, as he is popularly known, is a director of Golden Capital Plc and Golden Securities Limited. A devout Muslim, F. K. Lawal is widely travelled and happily married.

Mr. Rotimi Fashola

Deputy Managing Director - Industry and General Insurance Company Ltd

Mr. Rotimi Fashola is a Chartered Insurer of over two decades post qualification as a distinguished insurance professional. He holds an MBA with specialisation in Marketing from Obafemi Awolowo University, Ile-Ife, Nigeria. He is an Associate of Chartered Insurance Institute of London (ACII), Associate Chartered Institute of Arbitration, (London) (ACII(Arb)) and Associate Member, National Institute of Marketing of Nigeria (NIMN).

Mr. Fashola is an alumnus of both West African Insurance Institute (WAII)(Gambia) and the Global Institute for Leadership Development (GILD), USA. He is a Fellow of West Africa Insurance Institute (WAII), Fellow of Institute of Directors (FIOD), a Fellow of the Institute of Direct Marketing, (FIDM), member of the Governing Council of the West African Insurance Companies Association (WAICA) and a member of the Governing Council (WAII) (Gambia).

He currently serves on the Board of many companies both local and abroad and has attended numerous courses, seminars and conferences. He was the CEO of Liberty Assurance Company Limited between 1991 – 1993 before joining Industrial and General Insurance Plc (IGI) in July 1993 and presently the Deputy Managing Director. Mr. Fashola sits on boards of several companies.

Mrs. Alice Onomake

Managing Director - Reliance Insurance Trust Corporation (RITCORP)

Alice Onomake is currently Managing Director/CEO of Reliance Insurance Trust Corporation Limited based in Freetown, Sierra Leone for whom she has worked since completing her undergraduate studies at Fourah Bay College, University of Sierra Leone. Mrs. Onomake has held many of the professional positions within the company but during which time, she has also held numerous positions in insurance and industry in Sierra Leone and the sub region.

She is an Associate of Chartered Insurance Institute of London (ACII) as well as being a Fellow of West Africa Insurance Institute (WAII). Alice also holds an MBA from the University of Sierra Leone and has attended several courses at home and abroad. Alice is also Chairman of the Business Coalition against Aids in Sierra Leone (BCAASL), Chairman of the Capital Discount House Limited, President of the Sierra Leone Insurance Association (SLIA), a member of the Board of Trustees of the University of Sierra Leone as well as being a past President of the West African Insurance Companies Association (WAICA).

Alice continues to serve as a member of the governing council of WAII as well as being Chairman of the Academic Board. Alice has also been a board member of the Sierra Leone Chamber of Commerce, Industry and Agriculture.Alice is married with children.

Mr. William B. Coker

Director-General WAICA Secretariat

A Gambian by birth and nationality, Mr. William B. Coker started his insurance career in 1980 with the Gambia National Insurance Corporation and rose through the ranks to become its first Deputy Managing Director/Deputy CEO in 1994 and later in 1998 was appointed its Managing Director/CEO. William held this position until 2005 after which he was appointed to his current position as Secretary General/CEO of the West Africa Insurance Companies Association (WAICA) – a sub regional body of insurance institutions in West Africa.

William is a Chartered Insurer after having attending the CII College of Insurance in Sevenoaks, Kent, U.K. and qualifying in 1992 as an Associate of the Chartered Insurance Institute of London, U.K. He attended the prestigious Maastricht School of Management Netherlands and earned a Postgraduate Diploma (with Distinction) in General and Strategic Management in 1995.

He has attended many conferences/seminars/workshops over the years, is currently also a part-time lecturer at the West African Insurance Institute, (WAII) in The Gambia and is a Fellow of that institute. Mr. Coker is also a part-time lecturer at the Ghana Insurance College in Accra, Ghana. Mr. Coker has served or is still serving on numerous Boards of Directors/Governing Councils and such bodies.

Mr. Sam O. Mintah

Managing Director - Insurance Company of Africa

Sam Mintah, 59, is a Ghanaian by birth, but is currently engaged in Liberia as the Chief Executive of International Insurance Company of Liberia. Sam started his career in Insurance in 1985 and has worked in various areas of the business culminating in the position he now holds.

Sam has also held numerous positions in the Liberia and the sub region including being a member of the governing board as well as of the Academic Board of the WAII. He graduated from University of Ghana, Legon and is a Fellow of West Africa Insurance Institute (WAII).

Sam has attended numerous seminars and workshops over the years and continues to be lecturer in insurance. At various times, Sam has held important positions in Liberia Insurance Association including Vice President and continues to play an active role in the development of the insurance sector in that country.

Mrs. Senor Thomas-Sowe

Executive Vice Chair - Royal Insurance Gambia Limited

Senor Thomas-Sowe is the Executive Vice Chair, Royal Insurance Gambia Limited. Mrs Senor Thomas-Sowe started her insurance career with Senegambia Insurance Company Limited in 1987 where she rose to the rank of Deputy Manager before which she had been head of various departments. She joined Gamstar Insurance Company Limited in 1996 before joining Global Security Insurance Company limited in 1997 as immediate Assistant to the Managing director.

She joined International Insurance Company Gambia Limited in December 2000 as Technical Manager where she rose to be the Managing Director for 10 years. She retired in February 2013 and was promoted to the Group as Group Chief Operating Officer-Insurance to oversee all the Insurance Companies in the FIBank Group, that is International Insurance Company Limited in Guinea, Liberia, Sierra Leone and The Gambia. She left in February 2014 to take up appointment as Executive Vice Chair Royal Insurance Gambia Limited.

She is an alumnus of the College of Insurance and Risk Management (WAII), a Member of The Chartered Insurance Institute of London as well as Fellow of The West African Insurance Institute. She has attended various courses and Seminars both in The Gambia and abroad. Mrs Senor Thomas-Sowe is a Past President of The Insurance Association of The Gambia, Past President of the West African Insurance Companies Association (WAICA) and was a member of the Governing Council and Academic Board of the West African Insurance Institute.

She currently holds directorships including Group Investment Gambia (GIG) and Gambia Radio and Television Services (GRTS).

Mr. Thierry Ravoaja

Regional Director - PTA Re

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Mr. Mohamed Babatunde Cole

Managing Director - National Petroleum (Sierra Leone)

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Mr. Ekaw Nyarko Dennis Dadzie

Executive Director - Unibank (Ghana)

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