Mr Sammy Ogbodu, COO, STI

Nnamdi Duru

Erstwhile, General Manager and Chief Operating Officer (COO) of Sovereign Trust Insurance Plc (STI), Mr. Sammy Ogbodu, has been elevated to the position of Executive Director in the company.
With the new appointment, which took effect from the beginning of this month, Ogbodu becomes a member of the company’s board of directors.

Confirming his appointment to the company’s board, Chairman of the company, Chief Ephraim Faloughi, encouraged him to bring to bear on his new position, his wealth of experience in the firm’s management and the insurance industry in general.

Before now, Ogbodu was COO directly supervising  the Energy, Marketing and Relationship Management and Business Development in the company.  In addition, he managed the corporate services and branch operations in the firm.  Earlier, he held sway as General Manager, Branch Operations in the Federal Capital Territory (FCT).

A pioneer staff of the company, Ogbodu started his career in 1985 with Nigerian Life and Pension Consultants (NLPC) before crossing over to Law Union four year later where he rose to the position of Manager, Special Risks and Clients Services from where he joined STI in 1995.

The executive director is an Insurance graduate from the University of Lagos and an MBA in Marketing Management from the Lagos State University.  He is an Associate of the Chartered Insurance Institute of Nigeria (CIIN) and an alumnus of the Lagos Business School.
He has attended many courses in technical, management and leadership programmes locally and outside the country.

Established 16 years ago, Sovereign Trust prides itself as a firm that continuously pioneers initiatives that are geared towards the promotion growth, development and human capital development in the insurance industry in Nigeria.

STI listed its shares on the floor of the Nigerian Stock Exchange in 2006 even as the company boasts of engaging an array of professionals from different fields and places high premium on human capital development at every level of operations in the organisation.
The Global Credit Rating (GCR), a South Africa based financial rating agency rated STI A-, a confirmation of the firm’s strong resolve to stay true to the tenets of transparency, professionalism, corporate governance, accountability and ethical standards in the practice of insurance business.

The company’s shareholders’ funds is in excess of N4 billion, with N2.6 billion paid-up capital and a balance sheet size of over N6 billion.
In recently concluded its rights issue, an exercise geared towards propelling the next phase of its growth agenda and to allow shareholders increase their respective stakes in the company as a way of maximising their investments for greater returns.