Mutual Benefits Appoints Asenuga MD/CEO


Ebere Nwoji
The Board of Directors of Mutual Benefits Assurance Plc has announced the appointment of Mr. Femi Asenuga as the Managing Director/Chief Executive Officer of the company.

This followed the retirement of the erstwhile Managing Director Mr. Segun Omosehin, after 10 years of leadership.
Asenuga’s appointment became effective from Monday 23rd December 2019.

With this appointment, Asenuga would oversee the operations of the parent Company; Mutual Benefits Assurance Plc.
Asenuga holds a Master of Science Degree in Business Administration and a Bachelor’s Degree in Insurance from the University of Lagos. He started his insurance career with Metropolitan Trust Insurance Company in 1993.

He moved to Custodian and Allied Insurance as a pioneer manager in the underwriting department where he developed a sound underwriting structure for the organisation.

He is an Alumnus of Lagos Business School and the Said Business School of the University of Oxford where he attended the Oxford Advanced Management & Leadership Programme. He has attended several courses locally and internationally

He joined Mutual Benefits Assurance Plc in 1997 as an underwriter. He rose to become the General Manager, Life Operations, which operated as a business unit of Mutual Benefits Assurance Plc.

Spokesperson of Mutual Benefit Assurance, Mrs Ellen Offo, said under his leadership, Mutual Benefits Life Assurance, experienced monumental growth in size and revenue to become one of the top Life Insurance organisations in Nigeria.

She said the Board of Mutual Benefits Assurance was confident that his appointment would further strengthen the company’s position as a leading brand in the Nigerian Insurance sector and achieve the desired goals in line with her strategic road map.

She said consequent upon Femi Asenuga’s appointment, the Executive Director, Operations, Mutual Benefits Life Assurance Ltd., Mr. Rantimi Ogunleye has been appointed as Acting Managing Director/CEO, Mutual Benefits Life Assurance Limited.

Ogunleye, is a Chartered Insurer with experience spanning over two decades in insurance and pensions covering an array of specialised fields including Retail/Sales & Distribution, Underwriting and Claims.