Former CIC Insurance Boss John Gitogo is the new Britam Insurance CEO.
Mr Gitogo, who once served as Britam’s finance director, takes over from acting MD Charles Njuguna on September 1. Mr Njuguna, the finance director, took over from Tavaziva Madzinga in April, following his exit after just 10 months in office.
Mr Madzinga, who left for South African insurer Santam, was appointed as the group managing director in 2021 to replace long-serving Benson Irungu Wairegi, who served the company for more than 40 years.
“The Board of Britam Holdings Plc is pleased to announce the appointment of Mr Tom Gitogo as the Group Managing Director and Chief Executive Officer effective September 1, 2022, subject to the Insurance Regulatory Authority’s approval,” the insurer said.
Britam has seen several management changes in the last two years following Mr Wairegi’s exit.
After his exit in 2020, Tom Gitogo sold his 11 Million shares (worth Sh23.6million) from CIC, new CIC CEO Patrick Nyaga bough up 11.3 million shares worth Sh26 million after taking over.News
Mohamed Said Karama was appointed as board chair in 2021 along with Mr Madzinga, but both served for less than a year.
Under their management, Britam instituted one of the most radical shake-ups in recent times, eliminating nine top executive positions or nearly half of its management team.
The insurer now has a team of 11 managers from the previous 19, having scrapped several positions, including the principal executive director, chief of staff, group chief operating officer, actuary and product development manager, commercial director and Britam asset management unit.
Former PwC head Kuria Muchiru was appointed Insurance Group Britam Holdings chairman, replacing Mr Karama.
“We are very excited to have Tom join as the Group Managing Director and CEO and are convinced that he is the right person to drive our new customer-centric transformational strategy to achieve our revenue growth and stabilisation of our financial performance,” said Mr Muchiru.
Mr Gitogo was in charge of CIC group in Kenya, Uganda, South Sudan and Malawi for five years.
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