Staco Insurance Plc has appointed Nike Nihinlola as Acting Managing Director, following the recent passing of its former Managing Director, Dr. Wale Banmore.
The board’s decision, which has received approval from the National Insurance Commission (NAICOM), positions Nihinlola to lead the company through this period of transition. Before her elevation, she served as Executive Director, Technical and Operations at Staco Insurance Plc.
Nihinlola brings nearly three decades of deep expertise in Nigeria’s insurance industry. Since joining Staco as Executive Director, she has spearheaded key initiatives in process improvements, financial analysis, underwriting excellence, claims management, and reinsurance strategies. Her leadership has helped strengthen operational frameworks and position the company for sustained growth amid a competitive and evolving market.
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Her career trajectory underscores a consistent record of excellence. She served as Head of Underwriting, Claims, Survey, and Risk Management at Consolidated Hallmark Insurance Plc, where she developed robust systems that boosted efficiency and built client confidence over more than nine years. She later advanced to Head of Technical Operations at Great Nigeria Insurance Plc from April 2017 to July 2019, focusing on comprehensive technical delivery in a demanding environment.
In October 2019, Nihinlola launched her own venture as Lead Technical Consultant at Open Gates Consulting Services Limited—a role she balanced alongside her responsibilities at Staco—showcasing her entrepreneurial drive and ability to provide high-level advisory on complex insurance challenges.
A Fellow of the Chartered Insurance Institute of Nigeria (with associate memberships in related bodies), Nihinlola holds a B.A. in English from the University of Ibadan. She combines strong academic foundations with practical mastery in underwriting, claims, reinsurance, risk management, and executive leadership.
