MANAGEMENT : Two new Managing Directors for Nsia Cameroon Subsidiaries

Following Esther Tiako’s retirement, Ivorian insurance group Nsia has decided to streamline the management of its Cameroonian subsidiaries. During a board meeting held on March 20, 2024, in Douala, two Managing Directors were appointed to lead Nsia Assurances Cameroon and Nsia Vie Assurances Cameroon. They are William Nguimkeng and Olivier Bagneki, respectively. These two companies, established in 2007 and 2013, were previously led by Esther Tiako, who served as the Managing Director of Nsia Cameroon.

Prior to their appointment, both held the positions of Deputy Managing Directors within the Cameroonian subsidiaries since July 2023. William Nguimkeng, who joined the company in July 2023, obtained his first position within Nsia Cameroon. Before joining the company, the new Managing Director, who holds a Master’s degree in Business Administration, Management, Audit, and Control from the Catholic University of Central Africa, primarily worked in the banking sector, holding various positions at Bicec between 2012 and 2023.

On the other hand, Hugues Olivier Bagneki is no stranger to the insurance sector. The new Managing Director, who holds a Master’s degree in International Relations from the Institute of International Relations in Cameroon (IRIC), has over 15 years of experience in the industry. Prior to joining the Ivorian insurance company, he worked for more than 11 years at the French Export Credit Agency (COFACE), where he notably held the position of Country Manager for West and Central Africa from 2015 to 2019.

The two new Managing Directors will be tasked with improving the performance of Nsia Group’s subsidiaries in Cameroon. In 2022, Nsia Assurances Cameroon was ranked as the sixth insurance company in Cameroon, with a turnover of 11 billion FCFA, while Nsia Vie Assurances Cameroon ranked as the seventh insurance company, with a turnover of 3 billion FCFA. The appointees will work towards strengthening the market position of both companies and driving growth.

William Nguimkeng and Olivier Bagneki will bring their expertise and leadership to guide the strategic direction of Nsia Assurances Cameroon and Nsia Vie Assurances Cameroon. They will focus on enhancing customer satisfaction, expanding the companies’ product offerings, and implementing effective risk management strategies.

With their extensive industry experience and knowledge of the Cameroonian market, the new Managing Directors are well-positioned to navigate the challenges and opportunities in the insurance sector. Nsia Group aims to leverage their skills to consolidate its presence in Cameroon and contribute to the development of the country’s insurance industry.

The appointments reflect Nsia’s commitment to nurturing local talent and providing opportunities for professional growth within the organization. By appointing individuals who have already been part of the company, Nsia ensures continuity while bringing in fresh perspectives and ideas to drive innovation and improve performance.

In all, the new leaders will work towards improving performance, expanding product offerings, and delivering value to customers in line with the company’s growth strategy.

S.N