Babatunde Fajemirokun, Managing Director and CEO of AIICO Insurance PLC, exemplifies the blend of expertise and visionary leadership needed to thrive in today’s challenging business landscape. Since his appointment on August 14, 2019, Fajemirokun has steered the company to unprecedented heights, transforming AIICO into one of Nigeria’s leading insurance providers.
With a career spanning over two decades across various sectors including management consulting, insurance, and asset management, Fajemirokun has garnered a wealth of experience. He began his professional journey in academia as a visiting lecturer at Glasgow Caledonian University before moving into the consulting world with stints at Accenture in Lagos and Capgemini Consulting in the UK. In these roles, he honed his expertise in mergers and acquisitions, government transformation programs, and financial services consulting, skills that have proven invaluable in his leadership at AIICO.
Fajemirokun’s ascent within AIICO is a testament to his strategic acumen and operational expertise. Joining the company’s Life Insurance Division in 2009, he spearheaded numerous initiatives that have laid the foundation for AIICO’s growth. As Divisional Head of Operations & Technology from 2009 to 2013, he led retail operations, managing everything from underwriting to customer service and retail claims. His success in this role led to his appointment as Chief Operating Officer in 2013, where he oversaw strategic functions across the company, including enterprise risk management and shared services.
In 2017, Fajemirokun was named Group Chief Business Officer, a position that expanded his responsibilities to include the company’s subsidiary businesses, particularly asset management. His ability to navigate complex financial landscapes was further demonstrated as he successfully raised capital to support AIICO’s strategic growth objectives.
Educationally, Fajemirokun is equally accomplished. He holds an MBA from the University of Chicago Booth School of Business, a Master’s degree in Business Information Strategy from the University of Strathclyde, and a Bachelor’s degree in Business Economics from Glasgow. He is also a Fellow of the Society of Underwriting Professionals and a Chartered Insurer.
Under his leadership, AIICO Insurance has not only grown in financial strength but has also gained widespread recognition. In 2020, Fajemirokun was honoured at the prestigious Top CEO Awards for his exceptional performance and unblemished regulatory compliance, despite the challenging business environment. In 2022, he was acknowledged as the most prominent CEO in Nigeria’s insurance industry by P± Measurement Services, further cementing his reputation as a leading figure in the sector.
