Tony Elumelu changes name of one of his companies, makes new appointments

Tony Elumelu's Heirs Holdings has made new appointments to two subsidiaries, Heirs Insurance Limited and Heirs Life Assurance.

The company, in a statement, announced the appointment of two individuals to senior leadership positions and unveiled an official name change from Heirs Insurance Limited to Heirs General Insurance Limited.

According to the company, Wole Fayemi will assume the position of Managing Director and Chief Executive Officer of Heirs General Insurance immediately from Tuesday, May 2, 2022.

Another appointment is that of Tosin Bayo-Yusuf, who has been promoted to Executive Director and Chief Operating Officer of Heirs Life Assurance as approved by the Board of Directors.

Bayo-Yusuf's appointment comes on the backdrop of the departure of the former Executive Director, Wasiu Amao, who retired after many years of service.

Meet Wole Fayemi and Tosin Bayo-Yusuf

Wole Fayemi has worked in Nigeria's insurance sector for over two decades. Before moving to Heirs General Insurance, Fayemi worked at Old Mutual General Insurance, where he functioned as the Executive Director, Technical.

Tosin Bayo-Yusuf has operated in Nigeria's insurance industry for 17 years.

Since joining Heirs Life Assurance in 2021, Bayo-Yusuf has held key positions, including Head, Individual Life Operations and Head of Bancassurance, championing the bancassurance partnership with United Bank for Africa (UBA).