The Management of Sovereign Trust Insurance Plc has announced the elevation of its erstwhile Executive Director and Divisional Head, Technical, Mr. Olaotan Soyinka, to the position of Managing Director and Chief Executive Officer of the company.

This followed the retirement of the hitherto MD/CEO, of the company Mr. Wale Onaolapo in December of 2015.

Onaolapo, who meritoriously served the organisation for 21 years, has since taken his exit from the underwriting firm. The board has equally ratified the appointment of the new MD, who has also assumed office since January, 2016.

Soyinka’s elevation was greeted with cheer and admiration from his colleagues for his immense contribution to the continued growth of the organisation in the past 18 years.

Briefing journalists on the development, the Head of Corporate Communications & Brand Management of Sovereign Trust, Mr. Segun Bankole expressed great pleasure at the smooth transition of leadership baton in the organisation. He said the development was a testament to the successful implementation of the succession plan framework that the organisation had put in place over the years.

Soyinka is an erudite and well-grounded underwriter with over 20 years cognate experience. He is an Associate of the Chartered Insurance Institute of Nigeria. A Graduate of Insurance from University of Lagos, Soyinka also holds a Masters of Science degree in Marketing from the same university. He joined Sovereign Trust Insurance in March 1998.