Ruth Ibikunle
Kunle Ahmed is a name that resonates within the insurance industry in Nigeria, where he serves as the Chief Executive Officer of AXA Mansard Insurance Plc. His journey is quite fascinating, marked by a blend of hard work, determination, and a clear vision for the future of insurance in Nigeria.
Let’s take a step back and look at where it all began. Kunle was born and raised in Nigeria, and from a young age, he showed a keen interest in business and finance, thanks to his parents who were entrepreneurs themselves. They really got him and his siblings involved early on. His educational background is impressive. A distinguished graduate of the University of Ilorin and the University of Lagos, Kunle also holds a distinction from the West African Insurance Institute in Banjul, The Gambia where he graduated as the best graduating student winning 5 of the available eight prizes during the graduation ceremony. But that’s not all! He also sought further knowledge; Kunle is an alumnus of both IMD Switzerland and the Lagos Business School. You can see how this combination of education laid a solid foundation for his future career and prepared him for the complexities of the insurance world.
Now, moving on to his professional journey — it’s been nothing short of remarkable. Before taking the reins at AXA Mansard, Kunle held various roles in several financial institutions, gaining valuable experience along the way. He rose through the ranks in IGI and left in 2004 as a Manager in the Oil & Energy team. Kunle joined Heritage Assurance Limited, now AXA Mansard Insurance in 2004. Over the last 20 years, Kunle has served AXA Mansard Insurance in various capacities. He resumed as the Head of the Energy Team in Lagos before being posted to Port Harcourt to start the company’s South-East/South-South operations. A year later, he was saddled with the responsibility of starting the company’s Abuja/Northern operations and rose to become the Group Head, Regional Offices Group.
In 2008, he returned to Lagos as the Head of the Energy Group. By 2011, he was the Divisional Director for the Institutional Business Division, looking after corporate sales and managing relationships with clients across various sectors like Communication, Logistics, Manufacturing, Oil & Gas, Public Sector and Financial Services Institutions. He was invited to the board as an Executive Director in 2012 taking on the roles of the company’s Crisis Leader, Chairman of the Risk Management Committee and managed the corporate sales and underwriting activities of the company.
Fast forward to 2017, he became the Executive Managing Director at AXA Mansard, a pivotal role that allowed him to influence the company’s direction significantly.
During his tenure, Kunle implemented strategies that were game-changers for AXA Mansard. One notable achievement was his focus on digital transformation. You know, in today’s fast-paced world, adapting to technology is crucial. He spearheaded initiatives that not only improved operational efficiency but also enhanced customer experience. This digital push likely contributed to a noticeable increase in customer engagement and satisfaction. It’s fascinating to think about how much technology has reshaped industries.
But it didn’t stop there. Kunle also prioritized expanding AXA Mansard’s product offerings, making the company more competitive in the market. Under his leadership, AXA Mansard introduced various innovative insurance products tailored to meet the diverse needs of its customers. This approach not only helped in retaining existing clients but also attracted new ones.
And let’s talk about his impact on the company’s share performance. AXA Mansard has seen a significant uptick in its stock value during his time at the helm. Investors have responded positively to his vision and the tangible results that followed. It’s no wonder that he’s often regarded as a transformative leader within the industry. Currently trading at N13, the share price of AXA Mansard has touched a high of N21.42 from a low of N6.25 in the past one year. It is trading 39.31% away from its 52 weeks high of N21.42. A position in AXA Mansard has an uptrend potential of about 39%.
He is an Associate of the Chartered Insurance Institute, London (CII) and achieved the qualification within one year of sitting for the examinations. He is also an Associate of the Chartered Insurance Institute of Nigeria (CIIN).
Kunle currently serves on the board of companies and Pools across HMO, Oil & Gas, Academic, Computers, Industry Associations, and the Chamber of Commerce. He is a Board Member of AXA Mansard Health Limited, EMOCOM Computer Services Limited, a member of the Academic Board of the West African Insurance Institute (WAII) Gambia, Vice Chairman of Prudential Committee, the 26th Chairman of the Nigeria Insurers Association, Board Member, Africa Oil & Gas Pool, Vice President, French Nigerian Chamber of Commerce & Industry (FNCCI), National Bureau Chairman, ECOWAS Brown Card and Governing Council member of the Chartered Insurance Institute of Nigeria.
In summary, Kunle Ahmed’s journey is a testament to the power of education, experience, and innovative thinking. His leadership at AXA Mansard has not only propelled the company to new heights but has also made a lasting mark on the insurance landscape in Nigeria. As he continues to steer the company forward, one can only imagine what further achievements lie ahead for both him and AXA Mansard. Quite an inspiring story, wouldn’t you agree?
AXA Mansard is a leading provider of Health, Life, services. As one of the largest global insurers, its purpose is to act for human progress by protecting what matters.
Protection has always been at the core of their business, helping individuals, businesses and societies to thrive. And AXA has always been a leader, an innovator, an entrepreneurial company, fostering progress in all its dimensions. From the outset, AXA has been committed to acting as a force for collective good. From solidarity-based actions with AXA Hearts In Action to work on prevention issues with the AXA Research Fund and the fight against climate change, AXA has always been attentive to its social environment and embraced its responsibility as an insurer: responsibility for taking action upstream in order to better understand risks, with one goal in mind: to ensure better protection.
AXA Mansard Insurance plc was incorporated in 1989 as a private limited liability company registered as a composite company with the National Insurance Commission (NAICOM). Axa Mansard insurance is a member of the AXA Group, the worldwide leader in insurance and asset management, with 147,000 employees and distributors serving 94 million clients in 51 countries.
AXA Mansard Insurance plc is rated “B+”, and “bbb”, 2023, for the Issuer Credit Rating (ICR) by AM Best, the global insurance rating agency. Also certified to ISO 9001:2015 Quality Management Systems.
AXA Mansard Insurance plc, listed on the Nigeria Stock Exchange in November 2009, boasts the highest market capitalization in the Insurance sector of the Exchange. This achievement underscores their stability and reliability in the market.