(3 minutes read)
· CIC Group of Kenya has appointed Patrick Nyaga as the group Chief Executive Officer. He will take charge on June 22 from Elijah Wachira, the interim CEO
· The vacancy was created due to the resignation of Tom Gitogo 2019
CIC Group of Kenya has appointed Patrick Nyaga as the group Chief Executive Officer. He will take charge on June 22 from Elijah Wachira,
the interim CEO. The vacancy was created due to the resignation of Tom Gitogon 2019.
Patrick was previously a board member in CIC. He had also worked as a Group Finance and Strategy Director for Co-operative Bank Group before his new appointment and possesses wide experience stretching over 28 years in Kenya with various organizations.
Patrick holds an MBA from Strathmore Business School, a Bachelor of Commerce degree in Accounting and is also a Certified Public
Accountant and a member of ICPAK. The incumbent will have the responsibility to steer clear the company during the pandemic days.
Analysts say the going will be tough for any insurance professional at a time when companies will not pay for treatment in private
hospitals where bills range from Sh600,000 to Sh1.2 million. IRA made it clear that it only caters to the treatment of the Covid-19, which will entail a cost of Sh135,000. The insurance penetration in Kenya in 2019 dropped to 2.43 percent of Gross Domestic Product, which is the lowest in 15 years. Insurance companies are concerned about the drop since it will have a bearing on their business turnover and profit.
