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Samuel Oghenebrume Ogbodu

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Samuel O. Ogbodu, B.Sc (ins.), ACII (Lond.), MBA, FIIN, MRM, M.(IOD)

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I am an insurance professional with over 25 years cognate experience and have over the years provided excellent leadership for insurance operations.


Currently I am the Managing Director/CEO of SUNU Assurance Nigeria PLC. As the MD, it’s my responsibility to mobilize the Company resources to achieve its strategic goals and objectives, lead the development of strategy, position the company in it’s external relationships and be held accountable for the on-going management of the company so as to produce maximum shareholders value


I serve as the lead strategist dreaming up new ways, leading and inspiring my team to provide solution to customers and other stakeholders’ needs.


I have track record of year after year success in meeting and surpassing revenue budget, cost management, profit and business growth objectives as well as extensive experience in management of insurance company. Sammy has good interpersonal skills which he has deployed over the years in building and sustaining relationships with brokers, clients, agents, the media and other stakeholders including our regulator, NAICOM.


Sammy is a member of Ikoyi Club 1938, IBB Golf & Country Club, Abuja and Institute of Directors (IOD)


Area of strength includes;

  • Strong leadership in Board governance, people’s management and business development
  • Experience/competence
  • Good knowledge of the insurance market
  • A self-motivated team player who is result driven
  • Entrepreneurial with commercial acumen and excellent management skills
  • Results-oriented with positive outlook and clear focus on high quality and business profit
  • Robust relationship with brokers and clients nationwide
  • Inspired leadership and people management skill
  • The will to go extra miles to accomplish objectives & execution of strategies




  • Well experienced in the management of Company’s Board of Directors activities as well as the various Committees of the Board.
  • Good knowledge of the insurance market
  • Strong relationship with insurance brokers and regulator, NAICOM
  • Well qualified and competent executive with over 25 years’ experience managing high level corporate operations
  • Provides adequate support to the MD/CEO in the day to day running of the office
  • Manages the day to day operations in the absence of the MD/CEO
  • Made the Managing Director of Guardian Trust Insurance Company Ltd. when Sovereign Trust bought the Company in 2006


  • Start-up experience. One of the three persons that set up Sovereign Trust plc’s operation and entry into the market in 1995 as well as STI Leasing Ltd and the various Area and Branch Offices. I was responsible for setting up the Company’s technical division


  • History of success in turnarounds Projects. History of success in managing turnaround projects with 100% success rate. After a poor start, I was redeployed as head of Technical Division to head the Marketing & Business Development Division in 1996. From the revenue base of N95,000,000.00 in 1995, I led and inspired the team to N168,000,000.00 in year 1998, N366,000,000.00 in year 2000, N8,500,000,000.00 in year 2013 and N7,600,000,000.00 Premium income mark in 2014.


Also After several years of extremely poor performance I was redeployed to Abuja Area Office as General Manager, Branch Operations to help turn it around to a profit making operation from regular loss position. Before I was deployed to Abuja, the performance of the office hovered around N120,000,000.00 and N150,000,00.00. I led the team that turnaround the fortune of the office to N420,000,000.00 within one year.


Currently I am involved in the turnaround project at SUNU Assurances.  The project is looking great after just one year. Revenue figure up to N2,672,770,000.00 against N1,600,000.00 generated in 2016. Underwriting profit at year end stood at N851,220,000.00 against a loss position of N124,029,000.00 in 2016.


  • Targets and initiates business partnership with other companies. I led the team that initiated and closed various business relationships. For instance the business exchange relationship between Sovereign Trust Insurance Plc (A company that offers Non-life Insurance) and UBA Life (A company that offers Life insurance) that was consummated in 2009.


  • Capital raising: Led the Sovereign Trust Management team in raising capital through rights issue to the sum of N675,000,000.00 out of N1,100,000,000.00 targeted  in order to shore up the Company’s paid up capital.


  • Merger and acquisition: Led the Sovereign Trust team in the merger discussion and conclusion with three insurance companies viz Confidence Insurance, Prime Trust Insurance, Coral Insurance.


  • Ability to underwrite and market all classes of insurance products
  • Management of Reinsurance facility
  • Management of annual planning/budget process
  • Product development. Led the team that developed the popular and highly affordable product, called SWIS-F. The product was designed to cater for the lower echelon of the society and designed to help to penetrate the Nigeria population. It also helped to increase our customer base and customer count




  1. Nigerian Life & Pension Consultants, Ikorodu Road, 1985 & 1986
  • Responsibilities included marketing and underwriting of Pension Schemes and Life Assurance products
  1. Law Union & Rock Insurance PLC, Broad Street, Lagos, 1987 – 1994
  • 1987 – 1988: Member of the Company’s Underwriting Pool. My membership involved underwriting of all classes of Non-Life Insurance.
  • 1989 – 1991: Senior Superintendent: I was in charge of Fire and General Accident underwriting. My brief also includes survey of risks
  • 1990 – 1994: Manager, Special risks Insurance. The Special risks underwriting covered underwriting of Construction All Risks, Erection All Risks, Machinery Breakdown, Consequential loss following Machinery Breakdown, Boiler, Computer All Risks etc. I also carried out the survey of risks prior to inception of cover and during the currency of cover.


  1. Sovereign Trust Insurance PLC, Victoria Island, 1994 to Dec. 31st, 2015.
  • 1994 – 1996; Senior Manager, Technical.


Major Achievements

  1. I was a member of the four man team (Executive Management) that started the Company’s operation. This involved the reorganization, restructuring and recapitalization of the defunct Grand Union Assurances. The process also involved creation and staffing of the various divisions in the Company – Technical, Finance, Corporate Services (including Human Resources), Marketing and Business Development as well as the various departments under each Division.
  2. Set up the Technical Division fully and ready for operations from inception

My responsibilities involved planning, directing and coordination of all the activities of the Division and allocation of assignments to various Departments.  I also ensured that the operation complied with statutory and other regulatory requirements.

It’s instructive to note that I designed all the proposal forms, cover notes, Motor and Marine Certificates, claims forms and also put in place the reinsurance facilities for the company at inception. I also crafted and implemented the strategy used in facultative reinsurance marketing



  • 1997 – 2000; Assistant General Manager.

I was promoted AGM in 1997 and was deployed to head the Marketing and Business Development Division. My brief in this new role also include Product development

The Executive Management took a strategic decision of making a technical person with product knowledge and relationship management skills to head the marketing and business development team in order to improve turnaround time between the company and our various customers in terms of business negotiation


  • 2001 – 2005; Deputy General Manager.

Responsible for Marketing & relationship management, Client services, product development functions of the company. Achievement includes meeting the company target year in year out.


  • 2006 – 2008; General Manager, Head Office Operations

Responsible for the efficient management of the Head Office operations comprising Technical, Marketing & Business Development, Corporate Services, Human Resources,


  • 2009 – 2010, General Manager, Branch Operations

Responsible for the management of the company’s 26 Branch offices spread across the six geo-political zone. The responsibility includes Marketing, Underwriting, Claim management, Assets management and financial management functions of the Branch offices


  • 2011 – 2012, General Manager, Operations

I was responsible for providing leadership for all the divisions through which the Company delivers services to stake holders. These comprises, Technical including Oil & Gas, Marketing and Business Development, Branch Operations, Corporate Services and Human Resources Divisions


  • 2012 – 2015, Executive Director/Chief Operating Officer  

I was responsible for providing leadership and direction to all the divisions in the company viz Technical Division including Oil & Gas , Marketing & Business Development, Branch Operations, Corporate Services and Finance and Investments Division.

In addition to providing leadership for the various Divisions, I also provide support or Deputize for the MD/CEO in the day to day running of the organization


I also participated in decision making processes concerning Corporate Strategy, Corporate Communication and Brand management, Budgeting, Risk management & Control (including regulatory compliance), Company growth, profitability, and sustainability, ICT, Attend Board and Board Committee meetings, Chaired various project/managements committees etc



  1. During this period the revenue base of the Company rose to N7Billion


2016 to 2018: Executive Director, Operations, SUNU Assurances

My responsibilities include providing leadership and direction to the Technical and Operational activities of the company.


Major Achievements:

  1. Ensured that quality businesses were underwritten by the company and this led to huge reduction in the claims ratio and thus increase in underwritten profit.
  2. Management of cost of operations
  3. Restructured the Airpeace fine of USD7,097,575 imposed on the Company by NAICOM to USD2,365,858


Chairman, Risk Management Committee of the Company. Saddled with the responsibility to identify and manage risks that threaten the profitability of the company or that can add to fortune of the company.


2018 to date: Managing Director/CEO, SUNU Assurances Nigeria PLC

My responsibilities include managing the day to day activities of the Company in a professional and profitable manner using technology and highly inspired Human Resources to drive the operation. This includes delegating and directing agendas, driving business growth, providing strategic, financial and operational leadership for the company while working with the Board of Directors and senior leadership team.


Major Achievement so far:


  1. Under my watch the Company is now operating on the path of professionalism, Growth and profitability after experiencing series of losses in over 10 years
  2. Grew topline to N4,871,144,000 and PAT of N126,775,000.00.
  3. Increased employee engagements, team work and motivation
  4. Led the conceptualization of new business services to generate revenue for the Company
  5. Maintained outstanding relationships with local and foreign clients
  6. Reduced Company’s operating cost to less than 30% of earned premiums


Chairman of BOD, Equity Hotel & Resort, Ijebu Ode. Charged with the responsibility of reviving the dwindling fortune of the Hotel. Currently the Resort is running on the prosperity lane as against series of losses


Chairman of BOD, EA Capital Management Ltd. A wealth Management Company owned by SUNU Assurances Nigeria PLC




I have attended numerous seminars and courses locally and overseas during the course of my career. Notable among them are:


  • Two weeks intensive Executive Management Development Programme organized by Wits Business School of the University of the Witwatersrand in Johannesburg, South Africa in 2004. The programme dwelt extensively on Strategy, Marketing & Business Development, information Technology, Human Resources and leadership
  • Upstream Energy Course, London facilitated by JLT Academy, UK in 2014
  • Six weeks Advance Marine insurance  Programme at ASCON, Badagry, organized by Globe Reinsurance, 1996
  • Board of Directors and their roles program facilitated by IOD.
  • Managing risk at Board level by KPMG
  • Directing the Enterprise. Key issues in Corporate governance organized by LBS
  • Company direction course (2013 edition) titled ‘Effective Board’ by IOD
  • Advance Management Programme including Human Capital management at Witts University, Johannesburg, South Africa,  2008
  • Six months Advance Management Programme,  AMP 14, at Lagos Business School, Victoria Island, 2002
  • In April, 2010, I attended a Training Programme facilitated by TL First Integrated Management Group, titled ‘Beyond Visioning; Delivering Tomorrow, today’ held at JW Marriot, Dubai, UAE. It was a high profile programme for key decision makers and those involved in visioning major change, reforms, navigating route and evaluating impact.
  • Several Strategy and leadership Courses including the one organized by the renowned motivational speaker, Michael Porter in 2009
  • Several AIO, CIIN & NIA organized courses & seminars
  • Apart from attending seminars and courses, I have also facilitated sessions and presented papers on marketing strategies, Insurance operations and Special Risks Insurance
  • I have also carried out various research works including ‘Effective Insurance Marketing in Nigeria’ which I did for my FIIN election in 2009



  1. Igbobi College, Yaba,  1983
  2. University of Lagos, Akoka, 1987
  3. Chartered Insurance Institute, London
  4. Lagos State University, Ojo, 1998
  5. Lagos Business School, AMP 14, 2002
  6. University of Lagos, Akoka, 2015



  • Sc degree in Insurance, University of Lagos, Akoka
  • ACII Diploma in Insurance, Chartered Institute of London
  • MBA, Marketing Management, Lagos State University, Ojo.

2002         LBS Advance Management Programme Certificate (AMP)

2009         FIIN, Fellow of the Chartered Insurance Institute of Nigeria,

2015         Master of Risk management (Unilag)




  1. Networking, Mentoring, Reading, Cooking,



  1. Chairman, Howson Wright Estate Resident Association
  2. Secretary, NNPC Estate Residents Association, Abuja
  3. Vice-President, Carlton Gate Estate Residents Association, Chevron Drive, Lekki
  4. Secretary, University of Lagos Student Union
  5. LERSA Humaniritian support during the covid-19 period




Marital Status: Happily Married with Children



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