Durojaiye Takes Charge Of Sovereign Trust Insurance

Lucas Durojaiye, the former General Manager of Sovereign Trust Insurance Plc has been appointed as the company’s new Managing Director.

Durojaiye’s appointment followed the retirement of the company’s immediate past Managing Director, Mr. Olaotan Soyinka.

The company disclosed the appointment in a notice to the Nigerian Exchange Ltd., stating that it takes immediate effect after receiving the approvals of the Board of Directors and the National Insurance Commission (NAICOM).

Mr. Soyinka retired from the services of the underwriting firm in December 2025 after 27 years, including a decade as Managing Director.

The company said he played a pivotal role in driving growth and ensuring stability during his tenure.

The Board expressed confidence that Durojaiye’s appointment would further strengthen the company’s operations and sustain its commitment to long-term value creation for shareholders and other stakeholders.

Before his elevation, Durojaiye served as General Manager, where he also doubled as Head of Northern Area Operations and Head of National Public Sector.

In these roles, he was credited with significant contributions to the firm’s operational efficiency, technical capacity and business development activities.

Durojaiye is an Associate Member of the Chartered Insurance Institute of Nigeria (CIIN) and the Nigerian Council of Registered Insurance Brokers (NCRIB).

He is also a Chartered Fellow of the Institute of Credit Administration of Nigeria (ICA), a Fellow of the Chartered Institute of Loan and Risk Management (CILRM), and a Chartered Fellow of the Certified Pension Institute of Nigeria (CPIN).

He is an alumnus of the Lagos Business School, having completed the Senior Management Program 51.