Gajay Ananaba Takes Over as CEO of Omega Insurance Group

Omega Insurance Group Board Chair, Cllr. Cyril Jones, performs the leadership transition, where former CEO Charles Ananaba (right) turns over the gavel of authority to his son, Gajay (left), the new MD and CEO

There is an adage that says train up a child in a way that when he or she grows up they will not depart from it. This was vividly seen over the weekend when Gajay Ananaba was appointed by his parents as the new Managing Director and Chief Executive Officer (CEO) of Omega Insurance Company, rebranded as Omega Insurance Group Limited.

Gajay Ananaba takes over from his parents, Mr. Charles L. Ananaba, former Managing Director and CEO, and Patricia R. Ananaba, former Vice President for Administration and Human Resource, who retired last Saturday, November 24, 2018.

Prior to taking the helm at Omega, Gajay served for over 10 years, up to his last role as Chief Operations Officer. He was instrumental in running the day-to-day affairs of the Company and in his role; he was responsible to complete the Chartered Property and Casualty Underwriter program.

Taking the helm, Mr. Ananaba thanked his parents from the bottom of his heart for being the best parents that any child could pray for.

He said, “It will be my endeavor to sustain the efforts of my parents and ensure an even brighter future for Omega with knowledge, customer-centricity, and technology as the core mantra. As I embark on this journey, I hope to sustain the brand’s rich legacy and further strengthen it to a higher height. “As we move forward with the transition of leadership and the rebranding of Omega Insurance Company to Omega Insurance Group Limited, our loyal and valuable insureds; and the general public can rest assured that Omega’s vision, mission, and core values remain the same.”

Gajay is a graduate from the Louisiana State University A&M in 2008 with a Bachelors of Science in Finance and Concentration in Risk Management and Insurance. In 2015, he earned the designation of Chartered Property and Casualty Underwriter (CPCU) from the American Insurance Institute of Chartered Property and Casualty Underwriters, making him the first and still the only Liberian to have obtained the most widely respected designation in the Property & Casualty Insurance industry in Liberia.

Acknowledging his esteemed customers, Ananaba promised that Omega will continue to provide quality and affordable financial services to the private sector at a fair price.

He added, “As an Insurance Group, we will continuously strive to be the leader in the non-banking financial sector through professionalism, perseverance, trustworthiness, and customer focus — our core values.”

Concluding, the young CEO Ananaba said, “we diversify our book of business, and operate multiple profit centers; we are cognizant of the many challenges we will be faced with in this economy; and will rely heavily on our risk management expertise that has been the backbone of our operations.”

Mr. Ananaba’s predecessor, Charles L. Ananaba, said, “I’ve had a long happy and rewarding tenure of 11 years relying solely on one of the two profit centers of an insurance company, specifically Underwriting.  Even though we have become one of the premier insurance institutions in the country, we must also be honest with ourselves and understand that maintaining a profitable book of business requires diversification.”

He told his business partners at the rebranding ceremony that as they operate as an insurance group with multiple profit centers that will ascertain “our future obligations to policyholders are met timely and in good-faith.

“As humans, we must accept change. The late Steve Jobs once said “you can’t connect the dots looking forward; you can connect them looking backward. So you have to trust that the dots will somewhere connect in your future. So today, I am here to, tell you that I have been able to connect the dots in the past and I can assure you that they will connect in the future,” he said.

The former Omega Insurance Group MD said, “As I retire today, I truly believe that those dots have connected to enable me to trust that Omega is in great hands. We have mentored our son, Gajay L. Ananaba over the past 31 years, to become a better CEO than me. We have bestowed upon him the necessary tools to spearhead Omega to greater heights.”

He promised all his insureds that they should not worry, because they are leaving the business in great hands.

Mr. Ananaba lauded his many staff for bringing new inspiration and joy to his life and said he and his wife started Omega Insurance because of the inspiration they received from being the only Loss Adjusting firm in Liberia, adding that, “We saw the need for quality service and technical underwriting. We understood what it meant to create an insurance company that could lead the industry by example.”

Meanwhile, the event was attended by Omega customers, International guest, Family and Friends, as well as members of the Lebanese and Indian business communities.


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