Our Vision Statement

To be an innovative Reinsurance Services Company of choice, through customer centric practices, and use of advanced technology tools.

Our Mission Statement

Establishing FBS Re as a Reinsurance Services Platform of integrity and creativity, upon which all our stakeholders shall derive sustainable value.

Our Core Values

Our Vision Statement

To be an innovative Reinsurance Services Company of choice, through customer centric practices, and use of advanced technology tools.

Our Mission Statement

Establishing FBS Re as a Reinsurance Services Platform of integrity and creativity, upon which all our stakeholders shall derive sustainable value.

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January 2021

Commencement of Reinsurance Business

We commenced our reinsurance business on January 1st 2021.

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2020

Reinsurance License

FBS Re was granted its reinsurance license in November 2020 by the Nigerian Insurance Commission (NAICOM).

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2016

Incorporation

FBS Reinsurance Limited (FBS Re) was incorporated as a Private Limited Liability Company under Nigerian Corporate Law on 1st August 2016.

It was incorporated with an authorised Share Capital of Ten Billion Naira (10,000,000,000.00 NGN) made up of 10,000,000,000 Ordinary Shares of 1.00 NGN each fully Paid-Up

Board of Directors

Bala Zakariyau
Chairman
has over 40 years of experience in the insurance sector in Nigeria and has served on Boards of more than 20 national and multinational institutions.
Fola Daniel
CEO
is a veteran insurance practitioner and administrator. He has over 40 years experience at Senior and Executive Management Level and 8 years as the Commissioner for Insurance of the apex Nigerian insurance regulatory authority.
Steve Kyerematen
COO
Stephen Kyerematen is an insurance and reinsurance professional with over 40 years of experience having served in various roles and capacities in the African insurance and reinsurance segment
Ebele Okeke
Independent Director
Engr. Ebele Okeke, the First female Civil Engineer in Nigeria and the First female Head of the Civil Service of the Federation
Dr Ahmed O. Salawudeen
Director
is the President and Chief Executive of Standard Insurance Consultants Limited. He is a successful Chartered Insurance Practitioner and Real Estate Investment Adviser with track record spanning over 4 decades in the Global Insurance Market Place
Yusuf Hamisu Abubakar
Director
has held diverse positions in the public service as well as the private sector.
Wole Oshin
Director
is the founder and Group Managing Director of the Custodian Group, a leading Insurance group in Sub Saharan Africa with interests in Life Insurance, General Insurance, Pensions and Trusteeship business. He is an industry leader with over 30 years of experience
Taiwo Otuneye
Company Secretary
started his career in the financial sector in Nigeria 27 years ago and worked in varied roles. He worked as a Legal Officer, Niger Insurance Plc, before being seconded to NIC Securities & Trust Ltd where he rose to become the Chief Executive Officer.

Senior Management

Shola Ajibade
Director of Operations
CFO
Musa M. Kolo
Chief Financial Officer
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Gbolahan A. Toru
Senior Manager, Underwriting and Marketing
Shuaibu
Shuaibu M. Zakari
Head of IT
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WorkUp

We are aiming to transform the African reinsurance sector

The reinsurance market is growing. FBS Re is positioned to further this growth using disruptive technology and our depth of expertise.
Fola Daniel CEO FBS Reinsurance
Our Core Values - Customer Centrism
Customer Centrism means that our business strategy is a underpinned by our valued customer's perspective.
Our Core Values - Integrity
Sustainable value and trust can only be derived from Integrity. We are corporate governance experts and we have core promoters with stellar track records.
Our Core Values - Innovation
Technology and the proliferation of emergent risks dictates our approach to Innovation. We aim to be at the forefront of reinsurance progress in the long run.
Our Core Values - Efficiency
FBS Re is set up to attain maximum cost and revenue efficiency which we can then pass on to our partners and shareholders.
Our Core Values - Professionalism
We focus on retaining the best talent and enforcing the highest standards in developing our solutions.
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We aspire to raise the capacity of the African reinsurance sector

The reinsurance market is growing. FBS Re is positioned to further this growth using disruptive technology and our depth of expertise.
Fola Daniel CEO FBS Reinsurance

Summary Company Profile


FBS Reinsurance Limited (FBS Re) was incorporated as a private limited liability company under Nigerian corporate law on 1st August 2016 with an authorised share capital of N10,000,000,000.00 made up of 10,000,000,000 ordinary shares of N1.00 each.

The authorised capital has been raised and registered with the Corporate Affairs Commission (CAC) to meet the new regulatory minimum of N20,000,000,000.00 (Twenty Billion Naira)

Rich Insurance Heritage

The Founders of FBS Re are seasoned and experienced insurance practitioners. They have participated in and influenced the insurance industry for decades. FBS Re was founded on the principles of trust, innovation, reliability and expertise. We put these principles at work in delivering robust risk transfer solutions to our partners.

Long Term Focus

FBS Re is taking a long term view to developing sustainable partnerships with our industry partners. We believe in the long term prospects of the Insurance Industry during changing times.