The Managing Director of International Energy Insurance (IEI), Olasupo Sogelola, has officially stepped down from his position. His resignation marks the end of his leadership tenure at the insurance firm, where he played a key role in reshaping operations and stabilising parts of the business.

Although the company has not disclosed full details of the circumstances surrounding his exit, reports indicate that the board has already begun the process of selecting a new MD to steer the organisation forward. Sogelola’s departure comes at a time when the insurance sector is facing increased competition and regulatory changes, making leadership transitions particularly important.

The company is expected to announce an interim or substantive replacement soon to ensure continuity in its operations and strategic plans.