As we celebrate this iconic personality on his 61st birthday today, I felt a sense of responsibility to re-present the article I wrote on him when he marked his 60th landmark birthday a year ago, as a source of inspiration, particularly for younger insurance practitioners and colleagues desirous of more indepth knowledge about a man who has re-defined insurance practice in our country in his own modest way. Congratulations, sir.
TOPE SMART : TITBIT OF A 60 YEAR JOURNEY
There is no way the narrative of the insurance industry in Nigeria would be complete without a conspicuous space allotted to Mr. Tope Smart, who was the Group Managing Director and now Chairman NEM Insurance PLC, of one of the foremost insurance companies in Nigeria and a past Chairman of the Nigerian Insurers Association, a body that has over the years protected the interest of all underwriting companies in Nigeria.
Smart is a perfect bridge between the old and younger generation of insurance practitioners, having put in more than three decades in the risk management profession. The second class upper degree insurance graduate of the prestigious University of Lagos has had a very rich and rewarding career crystallizing in his early rise to zenith position of Managing Director of defunct Vigilant Insurance Company Ltd, even when many of his contemporaries were at a loss as to their future career paths. On successful merger of Vigilant Insurance with NEM Insurance, due to recapitalization drive, it became most expedient that Tope, as he is fondly called by his contemporaries should become the Managing Director of the company.
From that time it has been catalogue of successes given the strong positioning of the NEM brand as one of the numero uno of the insurance underwriting companies in Nigeria.
Narrating the story of NEM Insurance and its prominence as a leading brand, Mr Tope Smart believes that it was a product of God’s divine favour and stoic determination to excel.
The merger between it and Vigilant Insurance where Mr Smart was Managing Director was a mix of challenges and blessings. When he became the MD of NEM, there was the consensus that the brand name of the company be changed to pave way for a better brand position. This was natural and logical. But against the Babel of voices on the Board and strategy room to change the name, Mr Smart, like a prophet saw the good in the name. He suggested that the name be retained, a position that pitched almost everyone against him. As one who does not give in on his views except he has a stronger reason to countermand it, Smart stuck to his guns. The name was taken as a way of breaking the “corporate truce”! If after a year, the others were still strongly opposed to the name then it would be changed. The one year has not come ever since! NEM brand has become iconic in the league of insurance companies in Nigeria, particularly as leader in general business.
Having been recognized for his uncanny wisdom, humility and sound professional acumen, Tope Smart was elected Chairman of the Nigerian Insurers Association (NIA), the umbrella body of all insurance companies in Nigeria. He had served as a Governing Board member of the Association for up to 15 years before ascension of office. Like the proverbial golden fish that could not be hidden, Tope again brought pride to the Nigerian nation and the insurance industry particularly when the insurance operators in Africa rose in unison to elect him Vice President of the African Insurance Organisation (AIO) in Johannesburg, South Africa. As if to test the sagacity of Mr Smart, it looks quite coincidental that the confab also decided that the next AIO Conference for 2020 should be held in Nigeria. This placed a heavy burden of playing host to no fewer than four thousand insurance operators on Tope Smart, the Nigerian insurance industry and the nation. Happily, Mr Smart has took up the responsibility as he often does, mobilizing his studded team to work. As the main Nigerian ambassador of the AIO, Mr Smart was quite optimistic that the conference would bring bounty of goodies to the Nigerian nation in terms of positive image, as well as showcase the insurance industry which had been imperiled by poor perception leading to abysmally poor patronage by government and the populace. According to him, the confab “catalysed the growth of the industry in Africa by bringing attention to the industry as a pivot for genuine national growth and development, but that has not been adequately recognized”.
He boasted that it would be the best confab of the continental body to be organized in history. As the days ticked off towards the event, though challenging as the tasks could seem, there was a glimmer of hope that Mr Smart would bring in his rare traits and ingenuity as a superb administrator, savvy professional and uncanny humility (which is a forerunner of success) to bear in giving Africa and most importantly our nation, a conference to relish for a long time to come in terms of effectiveness of organization. It would have been another test of the midas touch which Mr Smart has often put on everything that God providentially puts his way. But unfortunately, the conference was postponed to 2021, in view of the ravaging effect of the covid 19 pandemic. After Covid, the event was eventually held in Lagos, where Smart emerged as the President of the Continental body. It was quite memorable that for the first time in the annals of the insurance industry in Nigeria, the ex- President of the country, Muhammadu Buhari personally declared the confab open.
Smart’s tenure no doubt opened a fresh and enthralling chapter in the annals of the continental body as he was able to deepen and enliven the interest of members in the body and by so doing fostered the spirit of comradeship amongst operators. His superb accomplishment as AIO President earned him the sobriquet “Continental President” which has stuck to him like a second skin even years after office.
This piece would not be complete without reflecting on the birth of this great icon. Though hailed from Ijagba in Ondo State, Tope Smart was born in Omuo Ekiti to late Chief Mathew Osigwe Smart, a prominent trader and transporter and Madam Abigail Smart. Raised in a polygamist home, Tope’s father sowed the seed of love amongst asll his children and that has been the string that bound them together till date. He attended Omuo Community Grammar School where he came out in flying colours in his West African School Certificate Examination, paving the way after obtaining his A level certificate at the Federal School of Arts and Science Ondo, to enroll for a Bachelor of Science degree in Insurance and Actuarial Science at the University of Lagos. He was the best graduating student in his set. Tope prides himself as one of the “purest creed” of insurance practitioners around, considering that many practitioners in the industry today didn’t really study insurance as their first discipline, but veered later into the profession.
His work life had been quite eventful and rewarding. He started his career in insurance with Everyman and Company Limited during his National Youth Service in Abuja and joined Nigerian French Insurance Company, under Late Emmanuel Eloramo as Managing Director. He versatility and vast knowledge, coupled with humility were great virtues that made it impossible to stay long with the company. He joined Perpetual Insurance and later moved over to Vigilant Insurance Company as Managing Director/CEO. His initial stay at Vigilant Insurance was quite interesting. He was initially unsettled by the unmet promises made to him when he applied for the job. But as if God had a greater plan for him, he stayed on with the company through thick and thin. Despite being categorized as one of the “dead companies” by the regulatory agency then under Late Chief Eugene Okwor, Tope audaciously approached Chief Okwor to plead for a little time to salvage the company. Providentially, the plead was heeded and like the unprofitable biblical tree was given more grace by the regulatory authority. Within the period, the fortune of the company changed 360 degrees from insolvency to vibrancy, to the extent of having a better balance sheet that gave it a vantage position during its eventual merger with NEM Insurance.
Happily married to another iconic insurance practitioner, Mrs. Tonia Smart of blessed memory, Tope was quite besotted to Tonia to the extent of being reckoned as an ideal specimen of a great couple in the professions. May the good Lord grant the soul of Tonia eternal rest. In spite of his watertight engagements Tope created a conspicuous space in his heart for the service of his maker as a Pastor in the Redeemed Christian Church of God. The family is blessed with three upwardly mobile children who are all males.
There is definitely no doubt today that Tope Smart’s rich life and career speak for him as one of the tower of strength and strong force for progressive and efficient insurance industry. All these accomplishments are anchored on his unselfish devotion to the professions, noble and kind heart as well as his super social connection with everyone he meets on his life’s journey. This 60th birthday is an auspicious avenue by numerous well wishers, family, friends, professional colleagues all over the world to celebrate this rare human species. Congratulations!
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