Chartered Insurer • Head of Underwriting

Fateye Micheal
Adediran

Head Underwriter | Master of Business Administration (Risk Management) | Chartered Insurer (ACIIN)

Accomplished insurance executive with over 16 years of strategic underwriting and claims leadership at Prestige Assurance PLC. Specializing in high-value corporate risk evaluation, Maximum Probable Loss (MPL) architecture, and pre/post-loss surveying across energy, fire, marine, and casualty lines.

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16+ Years of Industry Leadership
₦100B+ Cumulative Insured Assets Evaluated
3 Divs Strategic Departments Headed
2026 Doctor of Risk Mgt (In View)
Fateye Micheal Adediran - Head Underwriter and Risk Executive
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Associate Member (ACIIN)

Chartered Insurance Institute of Nigeria • 2017

Executive Summary

Strategic Stewardship of Enterprise Risk

Balancing prudent commercial expansion with rigorous risk profiling to protect balance sheets and maintain healthy loss ratios.

"Underwriting is not simply the pricing of peril—it is the disciplined science of safeguarding enterprise resilience against catastrophic uncertainty."

As Head of Underwriting at Prestige Assurance PLC, Fateye Micheal Adediran oversees the comprehensive assessment, policy structuring, and portfolio profitability across diverse commercial sectors. With over fourteen years in top leadership and five years in claims adjudication, he brings an uncommon end-to-end perspective on how insurance contracts perform in real-world distress scenarios.

His expertise spans pre-loss engineering surveys, complex property and casualty rating, reinsurance retention optimization, and Maximum Probable Loss (MPL) modeling. Having directed Marine & Goods-in-Transit (GIT), Fire & Special Perils, and Enterprise Risk departments, Mr. Adediran orchestrates high-performance teams committed to absolute regulatory compliance, underwriting precision, and prompt claim resolution.

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Actuarial Precision

Disciplined rate determination commensurate with exposure, preventing portfolio under-pricing while maintaining market competitiveness.

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Reinsurance Retention

Prudent MPL computation and strategic co-insurance allocation for corporate assets exceeding company net retention thresholds.

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Pre & Post Loss Rigor

Hands-on physical risk surveys, warranty enforcement, and rapid forensic adjustment coordination when indemnification occurs.

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Team Leadership

Cultivating high-morale underwriting units with strict adherence to NAICOM guidelines, governance frameworks, and ethical underwriting.

Career Trajectory

Leadership Milestones

An uninterrupted track record of high-stakes underwriting oversight, risk portfolio engineering, and team leadership at Prestige Assurance PLC.

April 2019 – Present

Head Underwriting Department – Risk Management

Prestige Assurance PLC • Executive Underwriting Office
  • Direct evaluation and final acceptance of high-value corporate underwriting proposals across major industries.
  • Strategic underwriting data analysis to continuously calibrate loss ratios, premium efficiency, and claim trends.
  • Executive allocation of underwriting responsibilities, training junior underwriters, and optimizing turnaround time.
  • Approval of policy documents, technical warranties, restrictive clauses, and endorsements/credit & debit notes.
  • Holistic risk assessment, setting rates in strict alignment with corporate guidelines and management mandates.
  • Managing policy lifecycle including cancellation of hazardous or non-compliant insured risks.
April 2014 – March 2019

Unit Head – Fire and Miscellaneous Department

Prestige Assurance PLC • Commercial Property Division
  • Comprehensive risk identification, evaluation, and underwriting assessment regarding fire, industrial perils, and special hazards.
  • Rate computation for effective, risk-commensurate premiums tailored to manufacturing plants, commercial towers, and warehousing.
  • Determining Maximum Probable Loss (MPL) alongside the Reinsurance Department to safeguard balance sheet solvency.
  • Co-insurance syndication: Allocating co-insurers and treaty participation on large business exceeding company retention limits.
  • Perusal of technical risk pre-survey reports, issuing mandatory risk-improvement recommendations prior to policy binding.
  • Liaising with top-tier insurance brokers, direct corporate clients, and executive management on complex risks.
August 2008 – March 2014

Unit Head – Marine & GIT Insurance Underwriting & Claims

Prestige Assurance PLC • Marine & Transport Logistics
  • Full oversight of Marine Cargo, Hull, and Goods In Transit (GIT) underwriting portfolios and associated claims processing.
  • Prompt claims adjudication: Registering claims, issuing claim acknowledgments, and requisitioning forensic loss documentation.
  • Critical review of Adjuster's and Marine Superintendent's survey reports; synthesizing actionable findings for HOD and AGM Technical.
  • Formulating formal settlement offer letters, dispute resolution, and preparing claim discharge vouchers.
  • Appointment and performance audit of independent recovery agents, average adjusters, and superintendents.
  • Product-wise and insured-wise incurred loss ratio analysis to uncover risk trends and implement preventative underwriting controls.
Interactive Domain Engine

Underwriting & MPL Simulator

Experience the analytical framework employed by Fateye Micheal Adediran to model Maximum Probable Loss (MPL), net treaty retention, and reinsurance cessions.

Default: ₦1,200 Million (₦1.2 Billion Naira)
5% (Heavy compartmentalization) 50% (Standard) 95% (Total loss peril)
Actuarial Output

Underwriting Risk Analysis

Calculated MPL Exposure
₦300.0 Million
Retention vs. Reinsurance Allocation Low Risk Exposure
Company Net Retention: ₦150.0M (50%) Reinsurance / Co-insurance: ₦150.0M (50%)
💡 Underwriting Recommendation

Exposure fully accommodated within internal capacity and treaty limits. Standard terms apply.

Core Competencies

Specialized Portfolio Disciplines

Comprehensive mastery across specialized risk classes, technical policy wording, and market syndication.

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Fire & Special Perils

Assessment of heavy industrial facilities, commercial plazas, and warehousing against fire, explosion, storm, flood, and earthquake. Formulation of tailored warranties and deductible structures.

Property Rating MPL Calculation Industrial Hazards
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Marine Cargo & GIT

Underwriting ocean import/export consignments (Institute Cargo Clauses A, B, C) and domestic Goods-In-Transit (GIT). Extensive claims inspection, loss adjustments, and recovery governance.

ICC Clauses Haulage Perils Adjuster Audit
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Material Damage & BI

Specialized certification from National Insurance Academy (NIA Pune, India) in Material Damage and Business Interruption underwriting. Modeling loss of gross profit and indemnity periods.

Loss of Profit Indemnity Periods NIA India Alum
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Political Violence & K&R

Specialty underwriting of Political Violence, Terrorism, Strikes, Riots, Civil Commotion (SRCC), and Kidnap & Ransom lines designed for volatile macroeconomic environments.

Terrorism Cover Hostile Territory Special Perils
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Co-Insurance & Reinsurance

Structuring co-insurance consortium slips with lead and follower underwriters. Liaising with reinsurance brokers for facultative cessions and treaty retention optimization.

Consortium Slips Treaty Retentions Facultative Placement
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Pre & Post-Loss Surveys

Engineering inspections and hazard profiling prior to inception, plus rapid post-incident forensic survey perusal to ensure claims veracity, salvage maximization, and subrogation.

Forensic Survey Risk Improvement Subrogation
Scholarly & Professional Standing

Credentials & Qualifications

A lifelong pursuit of academic mastery and continuous international professional development in risk management.

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Academic Degrees

Doctor of Risk Management (In View)

Lagos State University (LASU)
Doctoral Research in Enterprise Underwriting & Modern Risk Dynamics
2026

Master of Business Management (MBA)

Lagos State University (LASU)
Specialization: Risk Management
2022

Post Graduate Diploma

Lagos State University (LASU)
Advanced Management Studies
2013

National Youth Service Corps (NYSC)

Federal Republic of Nigeria
Discharge Certificate
2006

Higher National Diploma (HND) in Insurance

Federal Polytechnic Offa, Kwara State
Graduated with Upper Credit Honors
2005

National Diploma (ND) in Insurance

Federal Polytechnic Offa, Kwara State
Graduated with Upper Credit Honors
2001
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Professional Charter & Certifications

Associate Member (ACIIN)

Chartered Insurance Institute of Nigeria (CIIN)
Highest recognized professional chartered status in Nigerian Insurance
2017

Associate Member

Chartered Insurance of Loan & Risk Management Nigeria (CIIN)
Credit, Lending & Financial Risk Certification
2013

🌐 Specialized International Programmes Attended

  • Emerging Trends in Pricing & Claims Optimization (Casualty Lines) 2022
  • Underwriting of Political Violence, Terrorism, Kidnap & Ransom 2019
  • Profitable Management of Health Portfolio (Non-Life) – NIA Pune, India 2016
  • Material Damage & Business Interruption Risk Assessment – NIA Pune, India 2016
  • Intermediate Technical Underwriting & Claim Course – NIA 2014
  • Marine & Aviation Insurance Course – Pivots & Achievers Nig. Ltd 2013
Direct Engagement

Executive Consultation & Advisory

Available for corporate risk audits, board-level underwriting advisory, executive mentorship, and industry speaking engagements.

Direct Liaison

Connect directly with Fateye Micheal Adediran for institutional inquiries, syndicate co-insurance appraisals, or academic collaborations.

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Email Inquiries
madediran4002@gmail.com
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Direct Telephone
+234 803 824 0492
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Instant WhatsApp
Start WhatsApp Conversation
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Headquarters / Location
Lagos, Nigeria
Executive Notice

Official professional referees and accredited academic transcripts will be furnished to corporate boards and institutional search committees upon formal request.

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