FBS Re Chairman, Bala Zakariyau, received the 2025 Appreciation Award from the Nigerian Association of Insurance and Pension Editors in recognition of his transformative impact on Nigeria’s insurance sector.

NAIPE Chairperson Nkechi Naeche-Esezobor cited his “track record and leadership across the industry” as key factors in the selection, noting his pioneering work as former CIIN President and his management of prominent insurance companies throughout his 40-year career.

At the presentation ceremony held at the FBS Re Lagos office, the Chairman used the platform to advocate for ethical journalism practices, warning of the lasting impact of digital media in today’s fast-paced information environment.

The award reflects not just individual achievement, but the values of integrity and excellence that define FBS Reinsurance Limited.

We are proud to announce that FBS Reinsurance Limited (FBS Re) has been featured across four respected Nigerian news outlets for our remarkable financial results in 2024, including an 85% year-on-year growth in insurance revenue.

• InspenOnline – “FBS Re flourishing Nigerian reinsurer grew yearly insurance revenue by 85% in 2024” Read More

• Daily Economy – “FBS Re a rising Nigerian reinsurer grew yearly insurance revenue by 85% in 2024” Read More

• Business Today NG – “FBS Re Grows Insurance Revenue by 85% to N50.9bn FY2024” Read More

• THISDAY – “FBS posts 85% growth in insurance revenue, declares N600m dividend” Read More

We are proud to announce that FBS Reinsurance Limited is a Bronze Sponsor of the 47th OESAI Annual Conference and Annual General Meeting, which will be held from 23rd to 27th August 2025 at the Speke Resort Convention Centre in Munyonyo, Uganda.

This year’s conference, themed “The Future of Customer Experience in Insurance,” is a significant platform for leading voices across the African insurance and reinsurance industry to come together, share ideas, and shape the future of customer engagement, service delivery, and innovation in our sector.

At FBS Re, we are committed to pushing the boundaries of what is possible in reinsurance. Our focus remains on excellence, service, and sustainable growth — not just for our clients, but for the entire industry. We believe that better customer experiences begin with better partnerships, deeper insights, and a shared vision for progress.

We look forward to engaging with thought leaders, innovators, and partners at OESAI 2025 as we continue our mission to build a stronger, more connected, and customer-centric reinsurance landscape across the continent.

#FBSRe #OESAI2025 #CustomerExperience #Reinsurance #AfricanInsurance #InsuranceLeadership #InnovationInInsurance #FBSForBetterServices #PartnershipForProgress

FBS Re delegation at the 51st AIO Conference in Addis Ababa, Ethiopia.

Addis Ababa, Ethiopia – FBS Re was represented at the 51st African Insurance Organization (AIO) Conference held in Addis Ababa, Ethiopia, joining insurance professionals from across the continent for this significant industry gathering.

FBS RE at FANAF 2025

Our Managing Director Ganiyu Musa and Head Francophone Samuel KOFFI represented FBS RE at FANAF 2025, connecting with industry leaders to strengthen our African reinsurance partnerships.

FBS Re Announces Key Senior Management and Board Changes.

Abuja, July 30^th, 2024. 

FBS Re, a fast-growing Nigerian Reinsurance company, is pleased to announce important changes to its Board and senior management team. The changes would reflect a new chapter in its repositioning for enhanced services.

All changes have received no objections and approval from the NATIONAL INSURANCE COMMISSION (NAICOM).

Retirement of Pioneer CEO and Appointment of New CEO.

FBS Re expresses its deepest gratitude to Fola Daniel, the company’s founding CEO, for his visionary leadership and dedication. Under his sterling stewardship, FBS Re earned a Gross Written Premium of over 33 billion naira within only three years of operations.

As Fola steps down from his executive role, we are excited to welcome Ganiyu Musa as the new Managing Director/Chief Executive Officer of FBS Re.

Ganiyu brings his wealth of cognate experience and will introduce a fresh perspective to FBS Re. With a proven track record of over several decades in the leadership of insurance, reinsurance, audit, and consulting institutions, he is poised to lead FBS Re to its next phase of innovation and market expansion.

Ganiyu’s strategic vision aligns perfectly with FBS Re’s commitment to providing exceptional Reinsurance solutions to clients in Nigeria and across Africa.

Retirement of COO & Promotion and appointment of General Manager to Executive Director.

Alongside the CEO transition is Steve Kyerematen’s retirement from the Chief Operating Officer role. Steve and Fola, as founding executives, have jointly been instrumental in shaping FBS Re’s operational excellence and driving its record growth.

Also, in line with FBS Re’s philosophy of nurturing talent from within, it is proud to announce Shola Ajibade’s promotion and appointment to the position of Executive

Director (Technical). Shola has demonstrated exceptional technical expertise and a deep understanding of Nigerian and African Reinsurance markets.

In his new role, Shola will continue driving operations & business development and helping FBS Re achieve its strategic marketing objectives.

Chairman’s Statement on the changes.

Bala Zakariyau, Chairman of the Board of Directors, expressed the Board’s appreciation to Fola and Steve and welcomed them to their new positions as non-executive directors.

The Board looks forward to their continued guidance to the company.

At the same time, he warmly welcomed Ganiyu Musa as the new MANAGING DIRECTOR/CHIEF EXECUTIVE OFFICER and is confident that his experience and track record would propel FBS Re to greater heights.

BY ORDER OF THE BOARD.