Babatunde Fajemirokun

Managing Director/ Chief Executive Officer

Skills and Experience

Mr. Babatunde Fajemirokun is the Managing Director/Chief Executive Officer of AIICO Insurance Plc. 

He started his career in 2001 as a visiting lecturer in the department of Economics & Enterprise at the Glasgow Caledonian University, Scotland. He joined Accenture (Nigeria) Financial Services Unit (Banking and Insurance Groups) in 2003, as an analyst and specialized in Mergers & Acquisitions projects. He joined Capgemini Consulting (UK) Business Information Strategy Unit (cross-industry) in 2008, as a Senior Consultant, and worked on UK government transformation projects.  

Mr. Fajemirokun joined AIICO Insurance Plc, Life Division, in 2009 and was responsible for the delivery of key projects in its maiden transformation initiatives. He led the retail operations function between 2009 and 2013, which encompassed retail processing (underwriting new business & renewals, alterations/endorsements, and policy issuance & delivery), customer services/ retail claims, business process redesign and technology.

In 2013, he was appointed Chief Operating Officer, which required him to oversee all strategic functions, retail processing/ operations, actuarial functions, enterprise risk management and shared services (finance, human resources, information technology, procurement, and estate management) operations in the company.

In 2017, he was appointed Group Chief Business Officer, with supervisory responsibility for all the subsidiary businesses especially the asset management business. He was also responsible for raising additional capital at appropriate valuations for Group companies to meet solvency and/ or strategic growth objectives.

He also has external appointments as a Non-Executive Director in AIICO Pension Managers Limited, Food Concepts Plc and Xerox Corporation Nigeria (XHS).

Educational Background

He holds an MBA from University of Chicago Booth School of Business with a concentration in Finance, a Master’s Degree in Business Information Technology Systems (with distinction) from the University of Strathclyde and a BA (Hons) degree in Business Economics from the Glasgow Caledonian University. He is a qualified associate (ACII) of the Chartered Institute of Insurance (UK and Nigeria) with a Chartered Status (Chartered Insurer). He is also a member of the Institute of Directors.


About Us

AIICO Insurance Plc., is the leading life insurer in Nigeria.

Founded in 1963, AIICO provides life and health insurance, general insurance, investment management and pension management services as a means to create and protect wealth for individuals, families and corporate customers.