The Chairman, Nigerian Insurers Association, Mr Ganiyu Musa, has been inaugurated as the chairman of the council of bureaux, ECOWAS Brown Card.
Musa, who is also the group managing director of Cornerstone Insurance Plc, was inaugurated at an event by the scheme in Abuja on Tuesday.
The ECOWAS Brown Card Scheme was established by Protocol A/P1/5/82 signed by the head of states and governments on May 29, 1982 in Cotonou, Benin Republic.
The main objective of the scheme is to guarantee to the victims of road accidents prompt and fair compensation of damages caused by non-resident motorists from ECOWAS member states visiting their territory.
The scheme functions through a network of national bureaux in each of the countries.
Each national bureau performs the tasks of making the brown card available to resident motorist; and carrying out investigations and settlements of claims from accidents incurred by brown card holders.
A statement from Cornerstone Insurance said, “Musa is a highly experienced management professional with over 35 years of diversified experience in insurance, reinsurance, audit, consulting, business advisory and financial management.
“His professional experience started with Pannell Kerr Forster and later Arthur Andersen & Co where he trained and qualified as a chartered accountant and gained top quality experience in audit and financial consulting.
“He subsequently worked at African Reinsurance Corporation for 19 years, holding key positions, including director of finance & accounts/chief financial officer and deputy managing director.
“He played a lead role in the creation and initial supervision of the risk management function at African Reinsurance Corporation and supervised the design of the corporation’s investment guidelines and asset allocation.
“He was also instrumental in the preparatory work and the eventual setting up of the corporation’s subsidiary in South Africa, where he subsequently served on the board and audit committee as well as the Retakaful subsidiary in Cairo, Egypt.
He left Africa Re in 2011 to join African Capital Alliance, a leading pan-African private equity firm as insurance sector specialist and a director on the board of Cornerstone Insurance Plc.”
He joined Cornerstone Insurance Plc in 2012 as the group managing director/ chief executive officer.