Login

Lost your password?

Sign Up

Register

Login

Login

Lost your password?

Register

Friday, August 12, 2022
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion

Africa's
Investment
Gateway

The Exchange
  • Login
  • Register
Subscribe
This Month's Edition
Previous Editions
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
No Result
View All Result
The Exchange
LOGIN
Sanlam

Sanlam

Sanlam taps ex-Jubilee Insurance CEO in new leadership plan

The non-bank financial services firm has named Patrick Tumbo as the new Group CEO with immediate effect filling the gap that was left by his predecessor Mugo Kibati who left five months ago.

by Chacha Mwita
August 6, 2018
in Corporate Suite
0
Share on FacebookShare on LinkedIn

NAIROBI, AUGUST 6, 2018 ― Sanlam Kenya has named former Jubilee Insurance (Kenya) boss Patrick Tumbo as its new Group Chief Executive Officer, substantially filling the seat five months after the departure of Mugo Kibati.

The Nairobi Securities Exchange listed non-bank financial services firm said on Monday the appointment of Mr. Tumbo takes effect immediately.

He takes over from former Group CEO Kibati who left the company on March 1, “to pursue other interests.”

George Kuria, Sanlam General Insurance Chief Executive Officer has been the acting GCEO for the past six months.

Mr. Tumbo joins Sanlam Kenya  from Jubilee Insurance, where he was the CEO, Kenya.He resigned in mid-June this year after serving the underwriter for about 10 years.

During his stint, he also served the Jubilee Group technical head on insurance and reinsurance and in the Group’s Subsidiary boards.

He was credited with growing the Jubilee Kenya business from Ksh4 billion (US$39.8 million) to Ksh24 billion (US$238.9 million) during his tenure.

He was also instrumental in driving business growth through technology adoption and widening the client base by venturing into new untapped markets in the East African region.

Announcing the appointment, Sanlam board chairman Dr. John Simba said Tumbo will be assuming overall leadership for Sanlam Kenya PLC and the respective group subsidiary business companies.

“In Mr. Tumbo, we have secured a seasoned business leader who we also believe is the right fit to steer the Sanlam Group to new heights. This is part of our corporate strategy to position the group as a formidable non-bank financial services player in Kenya,” said Dr Simba.

On his part, Mr. Tumbo said:“Sanlam has carved a niche for itself as a non-banking financial services group with a vision and strategic imperatives that are pushing the brand into a new growth plane. I am happy to join at this point in time and contribute to the growth of the business.”

Dr. Simba said the board had noted with satisfaction that Mr Kuria had provided immense and invaluable leadership in the last six months, with the business maintaining much needed operating and business development stability.

“I enjoyed working closely with Mr. Kuria and his management team and I have no doubt that we have a world-class team, passionate enough to deliver against the business goals,” said Simba.

Tumbo was named Africa’s Insurance CEO of the year by Africa Insurance Organisation (AIO) in 2015.

He started his career as a Management Trainee at Alico Kenya (now AIG Kenya) in the early nineties and went to serve in different positions at Co-operative Insurance Company, PTA Reinsurance (ZEP-Re) and then up to CEO at Jubilee Insurance Company of Kenya Ltd.

“He brings to the Sanlam Group a rare set of sector acumen, business development and corporate restructuring skills having previously served at AIG Kenya, PTA Reinsurance (ZEP-Re) and CIC insurance,” said Dr Simba.

Mr Tumbo has more than two decades’ experience in the insurance industry.

He is expected to continue the implementation of Sanlam’s five-year strategic plan and the groups’ growth strategy.

READ:Sanlam to ride on low insurance penetration for growth

Sanlam Kenya, formerly Pan Africa Insurance Holdings is a Kenyan incorporated diversified financial services group providing  a comprehensive suite of financial solutions tailored to meet the distinctive Kenyan market needs.

Through its subsidiaries Sanlam Life Insurance Limited, Sanlam Investments Limited, Sanlam General Insurance Limited and Sanlam Securities Limited, Sanlam Kenya boasts of being  well positioned to meet unique client needs in the Asset Management, General and Life Insurance space.

Sanlam Kenya currently features a branch network of 24 client experience centres across Kenya’s major towns. The firm enjoys an estimated market share of eight per cent in the Kenyan life insurance industry, serving over 99,401 policyholders under individual life and more than 236,507 under group life.

ALSO READ:How Sanlam Group grew to celebrate100 years

 

 

 

Tags: AfricaAfrica Insurance Organisation (AIO)AIG KenyaCo-operative Insurance CompanyEast AfricaJubilee InsuranceNairobi Securities ExchangePTA Reinsurance (ZEP-ReSanlam Kenya

STATE OF ECONOMY - GET THE REPORT

ASSESSING EAST AFRICA

Loading...

Chacha Mwita

Chacha Mwita is a business reporter based in Kenya. He covers equities, capital markets, trade and the East Africa economic developments.

Related Posts

Insurance claim by policyholder
Corporate Suite

The case for peer-to-peer insurance 

February 27, 2021
The Kenya Power has appointed Bernard Ngugi as the Managing Director & Chief Executive Officer of the Company. He replaces former MD Ken Tarus. Jared Othieno has been acting since July last year.
Corporate Suite

Kenya Power appoints new managing director

October 29, 2019
Kenya Airways has fallen out with its pilots over continued losses at the airline, in the latest of many stand-offs between the two groups. Management has blamed the losses to high operating cost.
Corporate Suite

Inside Kenya Airways wrangles

September 16, 2019
Next Post
US President Donald Trump has extended an invite to Kenya’s President Uhuru Kenyatta in a move that will see the two meet at White House later this month.

Trump invites President Kenyatta to the White House; this is what they will discuss

Chandarana Foodplus outlet. The staff member who sent a racist email has snubbed the NCIC's summons. [Photo/Chandarana Foodplus]

Chandarana Supermarket’s racist email sender snubs NCIC summons

Eritrean Airlines commence commercial flights to Ethiopia

Eritrean Airlines debuts Ethiopian market

Please login to join discussion




This months edition

Features

The leaders of the BRICS nations meet at the group’s summit in Osaka in June 2019. Concerns are India might pull out of the group over tensions with China. (Photo/ Reuters)
Countries

What does Russia’s invasion of Ukraine mean for Southern Africa?

by Albert Nangara
August 3, 2022
0

When the United Nations General Assembly voted overwhelmingly on March 2 to condemn Russia’s invasion of Ukraine, African countries accounted...

Read more
Logistics and transport startups will play a major role in enabling Africa’s largest free-trade area (Photo/ Quartz Africa)
Industry and Trade

Trends shaping the future of logistics in African markets

by Albert Nangara
August 3, 2022
0

Digitization of logistics and compliance with sustainability policies will shape the future of logistics in African markets. Digitalization involves the...

Read more
Biometric systems are expected to lead the market for airport security systems in growth over the next five years, as the market increases at an 8 per cent CAGR through 2024 (Photo/ Biometric Updates).
Tech & Business

Machine learning, Artificial Intelligence changing Africa’s Airports

by Albert Nangara
August 2, 2022
0

According to Frontiers, AI has been recognized to have a wide potential to reduce human workload or increase human capabilities...

Read more
www.theexchange.africa/
Investing

ESG global mining and the social license

by Laurence Sithole
August 2, 2022
0

In terms of achieving net zero carbon emissions, the largest mining companies in the world have several options – each...

Read more
Some of the group members learning the components of the new briquette making machine. The machine can produce 500 briquettes per day. www.theexchange.africa
Investing

Reusable, organic charcoal: Answer to Africa’s cooking fuel challenges

by Njenga Hakeenah
August 2, 2022
0

United for Green is working to ensure that Africans do not get to these extremes. By empowering women, the plan...

Read more

News

Banking
Industry & Trade
Investing
Money Deals
Regional Markets
Tech & Biz
Opinion

Countries

Kenya
Tanzania
Uganda
Burundi
Rwanda
Southern Africa
Ethiopia

More

My Account
Contact us
Advertise
About us
Help Center

Subscribers Center

E-paper
Premium Stories
Education Rates
Corporate Subscriptions
Weekely Newsletter

  • My account
  • About us
  • Advertise
  • Contact
  • Privacy Policy
  • Refund Policy – The Exchange
  • Sitemap

No Result
View All Result
  • Home
  • Banking
  • Industry & Trade
  • Investing
  • Money Deals
  • Regional Markets
  • Tech & Biz
  • Countries
  • Opinion
  • Login
  • Sign Up
  • Cart

© 2021 The Exchange - Powered by MediapixManaged by Supported by Digihandler,

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In