Wapic Insurance Plc has announced the resignation of its Managing Director, Ashish Desai with effect from July 28, 2015. In the interim, Bode Ojeniyi, the deputy managing director (DMD), whose appointment was approved by the National Insurance Commission on 23 March 2015 shall assume the position of Managing Director pending the conclusion of the selection process for a new MD.
However, Insuranceadvicenigeria findings revealed that Ashish might have resigned in protest as the resignation was done under curious circumstances with no notice of resignation given, no handing over note and Asish was alleged to have resigned via e-mail whist he was already aboard his flight out of Nigeria.
Although it is not clear what could have triggered the sudden resignation, pundits pointed to the staff turnover of the underwriting firm which has reached an alarming proportion since 2011.
Ashish Desai is a qualified actuary with over two decades experience in the insurance industry in the United Kingdom, India and South Africa. A Fellow of the Institute of Actuaries (UK) as well as the Actuarial Society of South Africa and Institute of Actuaries India, Ashish holds a First Class Degree in Economics and Econometrics from Manchester University and is an alumnus of the Wharton School, University of Pennsylvania. Prior to joining Wapic Insurance Plc he was an Executive and Managing Director of Hollard Life & Investments, a subsidiary of Hollard Insurance Group which is South Africa’s largest privately owned Insurance Group.