Business
Meet Champion Of Change In Fortune Of Nigerian Company Named Fastest Rising In Africa
rating on research into the compound annual growth rate
Mutual Benefits Assurance the 27year old insurance company is riding high.
It is listed as one of the fastest-rising companies in Africa.
The company’s income rose from $43.7million to $54.1million within three years.
According to information made available to – and verified by – Financial Times was between 2017 to 2020.
Financial Times (F.T) based its rating on research into the compound annual growth rate (CAGR) in revenue for 2017 to 2020.
SocietyNow.Ng’s checks revealed at the forefront of the Mutual Benefits Assurance’s increasing fortune is Femi Asenuga.
Asenuga operated as the Managing Director of Mutual Benefits Life Assurance from 2011 to 2019 before taking over from Olusegun Omosehin as the front person of Mutual Benefits Assurance in June 2019.
He continues the good work of the Omosehin that saw staff pruned from 553 to 361 within the period of the rise in income.
A 1990 Bsc Honor Insurance graduate from the University of Lagos, Asenuga holds a 1992 Master’s Degree in Business Administration from the same higher institutions.
An associate of the Chartered Insurance Institute of Nigeria (CIIN), the Mutual Benefits Chief Executive Officer also holds a management certificate from Pan Africa University / LBS (2004) as well as an advance management certificate from the University of Oxford – Said Business School (2012).
The Chief Executive Officer of the company named in a list of 75 fastest rising companies in Africa started his insurance career with Metropolitan Trust Insurance Company in 1993 and went on to have a stint at Custodian and Allied Insurance as the pioneer manager in the underwriting department.
Mutual Benefits Assurance, the company Asenuga oversees, offers motor, marine, travel, fire, aviation, group life, and mutual term insurance, as well as investment-linked schemes, endowment plans, and protection policies.
