Lagos: Sovereign Trust Insurance Plc has confirmed the appointment of Dr. Lucas Durojaiye as its new Managing Director (MD), following the retirement of Mr. Olaotan Soyinka, who stepped down after 27 years of distinguished service, including a decade at the helm.
The company disclosed that the appointment, which takes immediate effect, has been ratified by its Board of Directors and approved by the National Insurance Commission (NAICOM).
Durojaiye, who previously served as General Manager and Head of Northern Area Operations, as well as Head of the National Public Sector, brings extensive operational, technical, and business development experience to the role. He is a Fellow of several professional bodies, including the Institute of Credit Administration of Nigeria, the Chartered Institute of Loan and Risk Management, and the Certified Pension Institute of Nigeria.
An alumnus of the Lagos Business School, where he completed the Senior Management Programme (SMP 51), Durojaiye is expected to drive the insurer’s next phase of growth and value creation for shareholders and stakeholders.
The Board expressed confidence that his leadership will strengthen the company’s operations and sustain its commitment to innovation and customer-focused service delivery.
