Yared Mola, Chief Executive Officer of Nyala Insurance S.C. (NISCO) has received an award from the African Insurance Organization (AIO) for his unparalleled leadership capability and outstanding contributions to the insurance industry.
Upon the 46th Conference and Annual General Assembly of the African Insurance Organization which took place from 9-12 June 2019 at Emperors Palace in Johannesburg, South Africa, Yared has been awarded as CEO of the Year 2019 among other African Insurance chief executives officers.
The panel of judges who comprises of highly renowned industry captains from all regions, sectors or subsectors of the insurance industry selected the winners after a comprehensive assessment and ranking of the nominees shortlisted from each category of awards. The four categories of awards are the Innovation of the year; the Insurance Company of the Year; the CEO of the Year and the Insurtech of the year.
In view of that, the panel of judges shortlists CEOs of African insurance companies who have led a profound change within a business through strategic vision, their roles to the sector through personal initiations with stakeholders and the insurance market to effect a noteworthy change to boost the company’s performance and outstanding contribution to the success of the industry.
In line with the above criterion, the panel of judges has shortlisted five best insurance chief executive officers for the year 2019 African Insurance Award from Sudan, Egypt, Ethiopia, Kenya and Côte d’Ivoire. Accordingly, Yared Mola has been honored as CEO of the year for his remarkable achievements and contributions in leadership excellence during the year. He is also the first CEO in the history of Ethiopian insurance industry to receive such a highly regarded award.
Yared Mola won the CEO of the Year awards by the transformation and re-orientation of the business philosophy as well as the objectives of Nyala Insurance Company towards customer intimacy and risk management solutions rather than merely selling insurance policies, a strategy which saw the company achieving sustainable growth in many aspects of its operations.
Headquartered in Cameroon, the African Insurance Organization (AIO) was established in 1972 as a non-governmental organization with the objective of expanding, developing, and promoting inter-African insurance cooperation so as to reinforce a healthy insurance and re-insurance industry in Africa.