RESOLUTIONS PASSED AT UNIVERSAL INSURANCE PLC'S 54th ANNUAL GENERAL MEETING
Overview: Universal Insurance PLC held its 54th Annual General Meeting on September 18, 2024, at the Grandeur Events Center, Ikeja, Lagos, where key resolutions were passed.
Key Resolutions:
1. Financial Reports:
The Directors' Report and Audited Financial Statements for the year ending December 31, 2023, were presented and accepted by the members.
2. Auditors' Remuneration:
The Directors were authorized to determine the remuneration of the company’s auditors.
3. Director Re-election:
Barr. Jasper Nduagwuike, retiring by rotation, was re-elected as a Director of the company.
4. Ratification of New Directors:
Members waived the notice period to ratify the appointments of new directors:
Engr. Fidelis Nwankwo – Non-Executive Director (NED)
Dr. Chinyere Nwoga – NED
Mr. Mbanugo Udenze – NED
Dr. Japhet Duru – Executive Director
5. Audit Committee Election:
Shareholders elected the following representatives to the Statutory Audit Committee:
Mr. Clement A.C. Opara
Mr. Oluwaseun Olukoya
Mr. Michael Obinna Omotayo Nwosu
The following directors were nominated to represent the Board:
Mrs. Olufunmilayo Adebusola Balogun
Dr. Chinyere Nwoga
6. Remuneration for Non-Executive Directors:
Members voted to maintain the current remuneration for Non-Executive Directors.
Overview: Universal Insurance PLC held its 54th Annual General Meeting on September 18, 2024, at the Grandeur Events Center, Ikeja, Lagos, where key resolutions were passed.
Key Resolutions:
1. Financial Reports:
The Directors' Report and Audited Financial Statements for the year ending December 31, 2023, were presented and accepted by the members.
2. Auditors' Remuneration:
The Directors were authorized to determine the remuneration of the company’s auditors.
3. Director Re-election:
Barr. Jasper Nduagwuike, retiring by rotation, was re-elected as a Director of the company.
4. Ratification of New Directors:
Members waived the notice period to ratify the appointments of new directors:
Engr. Fidelis Nwankwo – Non-Executive Director (NED)
Dr. Chinyere Nwoga – NED
Mr. Mbanugo Udenze – NED
Dr. Japhet Duru – Executive Director
5. Audit Committee Election:
Shareholders elected the following representatives to the Statutory Audit Committee:
Mr. Clement A.C. Opara
Mr. Oluwaseun Olukoya
Mr. Michael Obinna Omotayo Nwosu
The following directors were nominated to represent the Board:
Mrs. Olufunmilayo Adebusola Balogun
Dr. Chinyere Nwoga
6. Remuneration for Non-Executive Directors:
Members voted to maintain the current remuneration for Non-Executive Directors.