Wapic Insurance Plc has notified The Nigerian Stock Exchange of the resignation of its Managing Director, Mr. Ashish Desai, with effect from 28th July, 2015. The Company states that in line with its succession planning policy, its Board of Directors intends to conclude the process of recruiting a successor before the end of the year.

In the interim, Mr. Bode Ojeniyi, the Deputy Managing Director, whose appointment was approved by the National Insurance Commission on 23rd March, 2015, shall assume responsibility for the Company until such time as the process of selection of the Chief Executive Officer is concluded.