BY NKECHI NAECHE- ESEZOBOR– The National Insurance Commission (NAICOM), has approved the appointment of Dr. Japhet Ogueri Duru as the new Managing Director/ CEO of Universal Insurance Plc, effective 10th January 2025.
He joined Universal Insurance Plc on 22nd August 2024 as the Executive Director, Technical Operations.
On 26th September 2024, he was mandated to act as the Managing Director/CEO of the Company following the departure of the former MD/CEO, Dr. Benedict Ujoatuonu.
He is an accomplished Chartered Insurer, risk analyst and administrator equipped with a well-recognized record of accomplishment in an Executive Board role and Management skills with over three (3) decades of versatile and trusted experience in the Insurance Industry.
He holds a BSc (Hons) in both Economics and Insurance from the Imo State University Owerri and St Monica University, Cameroun; Masters in Finance (MSc) from the Lagos State University and a PhD in Business Administration from the Charisma University in Turks & Caicos Island. He recently bagged a PhD in Finance from Lead City University,
Ibadan.
He is a Fellow of the Chartered Insurance Institute of Nigeria and an Associate member of the Nigeria Institute of Management (Chartered), Certified Pension Institute of Nigeria, and Chartered Institute of Administration and has also undergone various certification programs on leadership and management.
Dr. Duru started his insurance career at Valid Assurance Company Limited, and has worked for various insurance organizations like, Central Insurance Company Ltd (now Linkage Assurance Plc), DBLS Insurance Brokers Ltd, KBL Insurance Ltd, International Energy Insurance Plc, Stanbic IBTC Insurance Brokers Ltd, Heirs Insurance Brokers Ltd,
Old Mutual Nigeria General Insurance Company Ltd, and Heirs General Insurance Ltd; where he gained valuable
experience in underwriting, risk management, reinsurance, claims administration, business development, insurance broking and customer service.
He has previously worked as the Head of Underwriting, Head of Technical Operations, Executive Director (Technical)/Chief Operating Officer, and Ag. Managing Director/ CEO at Heirs General Insurance Limited before joining Universal Insurance Plc.
He was once a Chief Examiner of the Chartered Insurance Institute of Nigeria (CIIN) and a part-time lecturer at the Lagos State Polytechnic, where he also served as the external examiner. Dr Duru was a council member of the Chartered Insurance Institute of Nigeria (CIIN).
He is a motivational speaker and a facilitator of insurance and management courses.
He is happily married, with four children and he enjoys reading books, imparting knowledge and travelling.
