2019Corporate PROFILE

MD’s Statement

FIN Insurance Company Limited (formerly, Yankari Insurance Company Limited) was incorporated on 24th April 1981 as a limited liability company wholly owned by the Bauchi State Government. It was registered as a licensed insurer in 1982 and commenced business on the 1st January 1983.

The company was then acquired by FINBank Plc and had its name changed to Fin Insurance Co. Ltd in 2008. In 2012, FINBank was taken-over by First City Monument Bank (FCMB) while Fin Insurance subsequently became a member of the FCMB Group. In a bid to transform the company’s operations, Fin Insurance was acquired by Cornerstone Insurance Plc (through CAPE III Limited) in 2014. This move was ratified and approved by National Insurance Commission (NAICOM) in 2015; thereby making the company a subsidiary of the Cornerstone Group.

As at December 31, 2018, the company recorded a gross premium income of N1billion plus with the total Assets in excess of N7 billion and shareholders fund of N5,748,361.00 While our share capital is N5 billion ordinary shares of N1.00each.

The Company is currently capitalized beyond the compliance requirements of the Investment and Securities Act 1999 and the Insurance Act 2003”FIN Insurance Company Limited is authorized to effect and carryout contracts of General Insurance business under the following categorization: Motor, Fire, General Accident, Marine, Engineering, Aviation and Bond.

Our business is driven by up-to-the-minute technology; managed by accomplished professionals and led by vibrant and resourceful Board of Directors.

Bashir BinjiM a n a g i n g D i r e c t o r

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Table of Contents• Introduction. 5• Corporate Information. 6• Board of Directors. 8 - 12• Management Team. 13- 15• Our Outlets. 16

4IntroductionFIN Insurance is committed to play a lead role in transforming the insurance industry within the confines of high professional and ethical standards. Our aim is to consistently provide new bold values through need-based products and exceptional quality service to delight both our corporate and individual customers. For over 36 years we have remained committed to these princi-ples.

Fin Insurance Company Limited is authorized to effect and carryout contracts of General Insurance business under the following categorization:

• Insurance of Automobile• Insurance of Property• Insurance of Pecuniary Interests• Insurance of Casualty• Insurance of Transportation• Insurance of Suretyship• Insurance of Engineering Services and Equipments• Insurance of Energy• Insurance Bond• Aviation

5Corporate InformationOur Principal Bankers:

• FCMB • First Bank of Nigeria Plc• UBA Plc• Skye Bank Plc• Fidelity Bank Plc• Guaranty Trust Bank

Our Auditors:KPMG Professional Services, KPMG Tower, Bishop Aboyade Cole Street, Victoria Island, Lagos.Our Registrars:Cardinal Stone Registrars Ltd. Plot 358 Herbert Macaulay Way, Yaba, Lagos.

Our Reinsurers:• African Reinsurance Corporation• Continental Reinsurance Corporation

Ownership:• Cornerstone Insurance Plc• Bancassure Limited• Gombe state Investment & Property Development• Bauchi State Investment & Property Development• Gombe State local governments• Individuals

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Our Vision:To be the leading insurance-based financial services group that transforms the Industry.Our Mission:Delivering value beyond expectations.Our Core Values:Our core values include Teamwork, Empathy, Professionalism, Innovation and Integrity.

EMPATHY

INNOVATION

INTEGRITY

TEAMWORK PROFESSIONALISM

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• Paul Kokoricha (Chairman)

• Bashir Binji (Managing Director / CEO)

• Afolabi Elebiju (Non-Executive Director)

• Emmanuel Udofa Assiak (Non-Executive Director)

• Martins Uwuilekhue (Non-Executive Director)

• Abdulkareem Mohammed Sani (Independent Non-Executive Director)

Board of Directors

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Mr. Paul Kokoricha holds a Bachelor of Science degree, Second Class Upper Division in Economics and won the Departmental Prize for the Best Graduating Student in Economics in 1982 from the University of Nigeria, Nsukka. He is a fellow of the Institute of Chartered Accountants of Nigeria. Kokoricha worked for ten years in Arthur Andersen & Co. [previously a leading global accounting and consulting firm] providing accounting, consulting and audit services to varied clients in financial services, oil and gas, trading and manufacturing. He gained extensive experience in accounting and audit turnarounds, business reorganizations and systems consulting. Prior to joining African Capital Alliance, he worked for Liberty Bank plc for eight years as Group Head of Operations with responsibility for trade finance products and customer service. He joined African Capital Alliance in 2002 as the Chief Financial Officer before making a transition to fund manager role in 2004. He is currently the Managing Principal of Capital Alliance Private Equity I [CAPE I] and Capital Alliance Private Equity II [CAPE II] - a US$ 35 million and US$ 100 million private equity funds respectively. CAPE I and CAPE II have a number of international and Nigeria based investors, including leading international development finance institutions such as International Finance Corporation [IFC] - private sector arm of the World Bank; European Investment Bank; CDC Capital [formerly Commonwealth Development Corporation]; FMO [the Dutch Development Finance Corporation], as well as Nigeria-based institutions such as Citibank, Chevron Pension, Nigeria Breweries [Heineken]; UAC; Diamond Bank, etc. Most of these investors are represented in the Advisory Committee and Investment Committee; key governance organs of both funds. In his role as Fund Manager, he champions all aspects of private equity invest-ment management, including fundraising, deal origination, due diligence, deal structuring, investment and management of exits. He is a director of a number of companies, including Johnnic Communications West Africa Limited, Compact Disc Technologies Nigeria Limited, Swift Networks Limit-ed, Resourcery Limited, Accat and Nu Metro Retail Nigeria Limited.

PAUL KOKORICHAChairman

Directors

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A graduate of Usman Danfodio University, Sokoto with BSc in Management Studies. He is an Associate of Chartered Insurance Institute London and has an MBA from Ahmadu Bello University, Zaria and a Diploma (Distinction) in Insurance from the famous West African Insurance Institute Banjul, The Gambia.Binji started his Insurance career with Nigeria Reinsurance Corporation where he worked in Investment, Underwriting and Marketing departments. He then moved to pioneer Zenith Insurance Company a subsidiary of (Zenith Bank) as zonal Head/Northern operations a position He held for 9 years. Prior to joining FIN Insurance Company Limited as MD/CEO, Binji was appointed by the Federal Government as Executive Director, Operations and later Acted as MD/CEO of Nigeria Agricultural Insurance Corporation(NAIC). He also served as member of the governing Council of Nigerian Insurers Association.He has over 19 years’ cognate experience in the industry. He has attended various courses in Insurance Risk Management and Marketing locally and internationally including 1 Year full time residential course at (WAII) Banjul, The Gambia.

BASHIR BINJIManaging Director

He is the founding Principal of LeLaw, Barristers & Solicitors a commercial law firm. Widely acknowledged as one of Nigeria’s leading tax and regulatory lawyers, he has two decades of premium corporate and commercial law experience in leading professional services firms. He was most recently General Counsel at Nigeria’s foremost private equity firm.He obtained his Bachelor of Arts (B.A. (Ed)) and Bachelor of Laws (LL.B) from Obafemi Awolowo University, Ile-Ife. He also has two Master of Laws (LL.M) degrees: from the University of Lagos and Harvard Law School respectively. He is a Fellow of the Chartered Institute of Taxation of Nigeria (FCTI), the Vice Dean, Indirect Tax Faculty of the Chartered Institute of Taxation Nigeria, and an Associate Member of the Chartered Institute of Arbitrators (ACIArb).

AFO L AB I E LE B IJ UNon-Executive Director

Directors

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Mr. Martins Uwuilekhue has over 24 years’ experience in the insurance segments such as Reinsurance, Underwriting, Risk Management, Oil & Gas, Bonds, Claims Management, Engineering, Corporate marketing, Business Development and Loss prevention. He was the GM, overseeing Technical and Risk Management Division of the Cornerstone group. Prior to that, he began his career as an underwriter at Franco-Nigeria Insurance Brokers.

Mr. Martins holds both a bachelor’s and Master’s degrees in Physiology from the University of Ibadan, and is an associate of the Chartered Insurance Institute of Nigeria [CIIN], He is an alumnus of Lagos Business School, as well as University of Texas. He has attended various specialized management courses/training interna-tionally, such as Elementary Drilling and Petroleum fundamentals, from University of Texas and specialty in Oil Intermediate from the International Chartered Insur-ance Institute (CII).

MART I N S U W U I LE K H U ENon-Executive Director

Directors

Emmanuel is a Principal at African Capital Alliance (ACA) and lead Financial Services. He joined the firm in 2006. He is the lead Investment Officer on ACA’s largest investment, Union Bank of Nigeria Plc and also provides leadership to a number of ACA investee companies, through his roles on their respective Boards.

Emmanuel is a finance professional with over two decades of experience that spans banking, manufacturing and private equity. Prior to joining ACA, Emmanuel held senior positions in leading Nigerian banks, including Zenith and UBA, where he oversaw banking operations, trade services, process management and products developments.

He holds a Bachelor’s Degree in Economics from University of Cross River State, a Master’s Degree in Economics from University of Lagos, Nigeria and an MBA from Manchester Business School, United Kingdom. He is also a Chartered Accountant.

E M MAN U E L A S S IAKNon-Executive Director

11Directors

Mr. Abdulkareem Mohammed Sani holds a Bachelor of Science Degree in Account-ancy from the University of Maiduguri and a Master of Business Administration from the Ahamdu Bello University Zaria. He is a member of the Institute of Char-tered Accountants of Nigeria. As well as a Fellow of the Institute.

He has over 2 decades of experience as a Chartered Accountant. His specialization includes Corporate Reporting, Financial Management, Taxation, Auditing, General Management, Mergers and acquisition. He worked with Yobe State Water Board, Adetona Isichie & Co and Quartz Technological Ventures Limited. Before joining NNDC Limited where he currently heads the Management Services Directorate.

Prior to joining the board of FIN Insurance Company Limited, He sat on the Board of many Companies. He is also a member of the Association of Chartered Certified Accountants, United Kingdom.

AB DU LK ARE E M M O HAM M E D S AN IIndependent Non-Executive Director

12Management Team

Joyce is the Head, Technical Department. She joined the FIN Insurance team in Sep-tember 2018. An insurance and risk management practitioner with over 18 years’ experience in the insurance industry and a track record for successful business set up and implementation processes, Joyce, holds a B.Sc in Insurance and an M.Sc. in Management both from the University of Lagos, Akoka, Yaba. She is an Associate of the Chartered Insurance Institute of Nigeria (ACIIN) and the Risk Management Society of Nigeria (ARMN) respectively.

Prior to joining FIN Insurance, she worked with Zenith General Insurance for over 10 years in various capacities in the Technical department. Joyce is passionate about the Nigerian insurance industry and has served in various capacities at the commit-tee level of the Nigeria Insurance Association (NIA), the Chartered Insurance Insti-tute of Nigeria (CIIN) and the Professional Insurance Ladies Association (PILA). She has attended various courses in insurance, risk management and leadership skills.

JOYC E O D IAC H I Head, Technical

He is the head business development / NAICOM Relationship Compliance Officer. Prior to joining Fin Insurance, he was a Manager Inspectorate and held other management positions since 1998 with NAICOM. He holds a Bachelor of Science Degree in Political Science from University of Maiduguri and a Diploma in Insurance from West African Insurance Institute, Gambia.

He is an Associate Member of Nigeria Institute of Management (NIM) and also a Certified Anti-Money Laundering Specialist (CAMS).

NA S I R SO NGHead Business Development / NRO

13Management Team

Fatima Umar is the head of Admin and Human Resource. She holds a B.Sc. in Sociology from Bayero University, Kano and an MBA at (ATBU).

Before joining Fin Insurance Co. Ltd, she has over fifteen years of Banking experience, she worked with the defunct Inland Bank/FinBank at managerial position.

FAT I MA U MARHead Admin and Human Resources

Taiwo is a graduate of Accountancy from Federal Polytechnic, Ede, Osun State. She is a Member of Association of Chartered Certified Accountants (ACCA), London. She also holds master’s in business administration (International Business) from La-gos State University. She has to her credit a Diploma Certificate of Chartered Insur-ance Institute of Nigeria (CIIN). Before she joined Fin Insurance Company Limited in 2019, she worked with Leadway Assurance Company Limited for fourteen years where she handled various Accounting functions including Treasury, Property, Plant and Equipment Accounting, Investment Accounting, Payables and Receivables Rec-onciliation, Special Risk Accounting, Reinsurance Accounting, Payroll Accounting, Prepayment and Accruals Accounting, Budget and Variance Analysis, Financial Analysis, Bank Reconciliation, Intercompany Accounting, Branch Operations. She later rose to be the Team lead, Management Accounts and Financial Reporting, a position she held till her resignation. Prior to joining Leadway, she had worked in the Hospitality and Telecommunications industry.

TAI WO F DAV I DHead, Finance

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Adejo is a trained sales person with over 15 years’ experience in marketing and underwriting.

He started his insurance career after his NYSC service with Cornerstone Insurance and has since then worked in the Claims department of Cornerstone Insurance and then became the Kano Branch Manager and later the Abuja Branch Manager of Cornerstone Insurance. He was on the team that was seconded to Fin Insurance Co. Ltd in 2014 from Cornerstone Insurance where he served as the Acting Head of Technical for Fin Insurance.

Presently he is the Head, Marketing for Fin Insurance over-seeing the Head Office sales team. He is a Accounting graduate who has switched over his career to insurance. He is a fellow of the Institute of Certified Public Accountants of Nigeria and also a member of the Chartered Insurance Institute of Nigeria.He has attended several local and international courses on insurance sales and underwriting.

AD EJO AC H E MAHead, Marketing

Management Team

He is a graduate of Accounting and Finance from Yaba College of Technology, also, a member of the Institute of Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Taxation of Nigeria (CITN) with many years of experience having worked with several organisation in Nigeria. He joined Cornerstone Insurance Plc, Finance Department in May 2008 and worked in various capacities in the company including Financial Reporting, Head, Finance Operations, Special Risk (Oil & Gas) and later branch Manager, Ibadan office. He was seconded to Fin Insurance Company Limited as Regional Manager, Western Region, a position he still holds till date. His passion in business development gives him the edge to assist business owners and organisations in building a reliable account and financial system using best practise.

TAI WO, K AYO D E O. Head, Business Development (Western Region)

Turning risks into O PPORT UNITY

Our OutletsREGISTERED ADDRESS34, Gana Street, Maitama, Abuja.Tel: +234 (0) 9 291 3712Web: www.finsurance.com.ngEnquiries: info@finsurance.com.ng| finlegal@finsurance.com.ng

CORPORATE HEAD OFFICE1st Floor, Okoi-Arikpo House,

5, Idowu Taylor, Victoria Island, Lagos

KADUNANM 20, Constitution Road,

Kaduna, Kaduna State.Tel: 07030980146

ENUGU13, Ogui Road Enugu, Enugu State

08033504458, 07089998343

IBADAN67, Aboderin Layout, Oni & Sons Area,

Ring Road, Ibadan, Oyo State.Tel: 08034440705

IKEJANo 6 Adeniyi Jones, Ikeja,

08020793199/08129926999

KANO103, Hadejia Road, Kano, Kano StateTel: 08069243833

PORT HARCOURT180 Aba Road, Port Harcourt, Rivers State. Tel: 08067614412

SOKOTOBlock 12, Maiduguri Road, Opposite Dogon Daji House, Sokoto State.Tel: 08037816762