Ruth Ibikunle
Andrew Ikekhua holds the position of Managing Director at NEM Insurance PLC, where he plays a pivotal role in steering the company’s vision and strategy. With an impressive profile and a wealth of experience in the insurance industry, Andrew brings a unique vision to the table and has become a respected figure in the field, known for his innovative approach and commitment to excellence.
Andrew isn’t just your typical corporate executive. He’s got a solid background in finance and insurance, which, let’s be honest, is pretty crucial in this industry. With a degree in Mass Communication in 1997 from the Plateau State School of Accountancy & Management Studies, Jos and a Master of Business Administration (MBA) in Administration and Entrepreneurship from the London School of Business and Finance. In addition, he has a Master of Business Administration (MBA) in Entrepreneurship from ITTL-Doctoral Research Center and University of Phoenix, Arizona. He really knows his stuff. But it’s not just about the books for him; he’s spent years in various roles within the insurance sector, slowly climbing the ladder and soaking up knowledge along the way. You know, that hands-on experience? It really gives him an edge.
He served as the company’s branch manager, Ibadan and Ikeja from 2001 to 2006, he worked at various levels of the accounts and audit department of both BAICO (1981 -1990) and NEM Insurance Plc, (1990 -2000). Subsequently, he became the Head of the Lagos Mainland Branch upon recapitalization in 2007 and an Assistant General Manager in 2009. In recognition of his excellent track record, he was promoted to the position of Deputy General Manager in 2013 and in 2014 to the position of General Manager (Marketing). He is currently the Executive Director (Marketing & Business Development).
Now, what’s interesting about Andrew is his approach to leadership. He believes in fostering a team-oriented environment. I mean, who doesn’t appreciate a leader who values collaboration. He’s all about empowering his employees, encouraging them to bring their ideas to the table. It’s refreshing to see someone who genuinely wants to see others succeed. Plus, this kind of culture tends to drive innovation, and at Nem Insurance, that’s a big deal.
Under Andrew’s guidance, the company has not only maintained its reputation for reliability and professionalism — which is key in insurance — but he’s also pushed for modernization. Let’s face it: the insurance industry can be a bit traditional, but Andrew is all about embracing new technology. He’s been a strong advocate for digital transformation, understanding that to stay relevant, you have to adapt. This focus on innovation has led to improved customer experiences and streamlined operations, making life easier for both clients and staff.
And speaking of clients, Andrew really prioritizes customer service. He believes that every interaction matters. It’s not just about selling policies; it’s about building lasting relationships. He often says, “If we don’t take care of our customers, someone else will.” It’s a simple yet powerful philosophy that resonates through the entire company.
It’s important to note that NEM Insurance has been navigating the stock market landscape with some interesting developments lately. Under Mr. Ikekhua’s guidance, the company has made strides in enhancing its visibility and performance in a competitive market. You see, the insurance sector can be quite the rollercoaster ride, with fluctuations that can make or break a company’s reputation and financial standing.
If we take a closer look at the numbers, NEM Insurance has shown a steady performance over the past year. There’s been a noticeable upward trend in the stock price since Mr. Ikekhua took the reins. Year to date, the share price of NEM Insurance has grown by 173.97% to the current price of N30 from N10.95 at the beginning of the year 2025. The recently released Q3 2025 result also shows significant growth in the Company’s topline and bottom-line figures. Gross Earnings for the 9 months period was N123.52 billion, up by 67.47% from N73.76 billion recorded the previous year. Profit after tax grew year on year by 51.28% to N20.51 billion from N13.56 billion profit achieved the previous year. This isn’t just luck; it’s a combination of strategic decisions and a focus on improving operational efficiency. Investors seem to have responded positively to the changes implemented under his leadership, which is always a good sign.
Now, let’s not forget about Andrew’s vision for the future. He’s got big plans for Nem Insurance. He’s looking to expand the company’s reach, tapping into new markets and exploring different products. You can tell he’s got that entrepreneurial spirit. He’s not one to shy away from a challenge and sees obstacles as opportunities to grow. This forward-thinking mindset is what sets him apart.
Outside of work, Andrew is just as dedicated. He’s an advocate for community service and often encourages his team to get involved. It’s not just about profits; it’s about giving back. He’s involved in various initiatives that support education and healthcare, really emphasizing the importance of corporate social responsibility.
So, in a nutshell, Mr. Andrew Ikekhua is not just a managing director but a visionary leader. He combines expertise with an approachable demeanor, creating a workplace that values innovation, teamwork, and client satisfaction. It’s this blend that’s not only driving Nem Insurance forward but also making a positive impact in the community. With Andrew at the helm, Nem Insurance is well-positioned for continued growth and success in the ever-evolving insurance landscape.
Nem insurance Plc aims to be the preferred choice of the insuring public.To build a customer satisfying insurance institution that is passionate about adding value to the interest of all stakeholders.
Nem Insurance PLC offers a wide range of Insurance products designed to effectively cater to all insurance needs. The company, which has contributed immensely towards the growth of Insurance Industry in Nigeria, was into Life and Non- Life business but following the recapitalization exercise in 2007, the company merged with Vigilant Insurance Company Ltd to transact all classes of General Insurance.