The National Insurance Commission (NAICOM) has made a u-turn by reinstating the operating licences of Glanvill Enthoven Nigeria (GEN), a firm of incorporated insurance brokers.
With this turnaround, the company is again authorised to operate general insurance, life & pensions business as well as reinsurance brokerage services on behalf of clients in the country.
The management of GEN led by its former Managing Director, Francis Akinola, and Akin Onifade (Executive Director) at the annual expiration of the three operating licences of Glanvill Enthoven – General, Reinsurance and Life and Pension on June 30, 2015, failed to file for renewal within the statutory 90 days ending September 30, 2015.
The documents were filed on October 16, 2015 and NAICOM, the apex regulator of insurance sector, descended on them by revoking all the operating licenses.
The company is a member of the Nigeria Council of Registered Insurance Brokers (NCRIB) and has a reputation for high-level professionalism.
It maintains a Professional Indemnity cost of N750 million and is owned by the five South Western states including Lagos and Odua Investment Company Limited.
Established in since 1957, and had been a leader in the provision of highly efficient and innovative insurance broking and related services through a well-motivated and pro-active professional workforce while at the same time satisfying the aspirations of stakeholders.
Its award-winning Managing Director, Supo Falana, brought his 25 years of professional experience in top-class rated insurance institutions including Goldlink Insurance Plc and Law Union & Rock insurance, where he was the Chief Technical and Business Officer.
Falana is a proactive seasoned insurance executive versed at delivering appropriate technical operations, marketing solutions aligned with corporate strategy and business goals.
He obtained Higher National Diploma in Insurance with Distinction from Lagos State Polytechnic and Master in Business Administration from University of Ado Ekiti.
He is a Fellow of the Chartered Insurance Institute of Nigeria (FCIIN) and has attended several insurance trainings, seminars and conferences both locally and internationally.