By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian insurance regulator, National Insurance Commission (NAICOM) has announced the appointment of an interim management board for International Energy Insurance Plc (IEI).

The insurer disclosed this in an in issuer’s announcement to the Nigerian Stock Exchange (NSE).

It said the new interim management board is made up of M.K. Ahmad as chairman, Daisy Ekineh and Bridget Akintola as members.

According to IEI, the appointments took effect from 18 May 2015 and is expected to be for an initial period of six (6) months.

The insurer affirmed that appointees would assist the interim board in its functions.

In the same vein, the company announced the appointment of Peter Irene as interim managing director/CEO to head the executive management of the IEI.

IEI further affirmed that the interim management board was inaugurated by Mohammed Kari, NAICOM deputy commissioner (Technical) who emphasized that the intervention of the Commission became necessary to protect the Policyholders and shareholders of the Company.

Kari reiterated that notwithstanding NAICOM’s intervention, the Company still remains a going concern with the capacity to underwrite all types of General Insurance businesses.