ICEA Lion Group has tapped APA Life and Heritage Insurance CEOs to head its life and general business, marking the latest shake-up in its top leadership team.
The insurer said in a statement it has appointed Godfrey Kioi as the new CEO and principal officer of ICEA Lion General Insurance Company Limited, effective October 7. He joins from Heritage Insurance Company Kenya Limited where he has been the managing director.
The appointment of Mr Kioi comes months after picking Catherine Karimi as the new CEO and principal officer of ICEA Lion Life Assurance, effective May 23, 2024.
Ms Karimi was tapped from APA Life where she held a similar position. She has replaced George Nyakundi, who has been promoted to the role of ICEA Lion Group head of business development, where he will be charged with exploring and supporting growth opportunities.
Philip Lopokoiyit, who serves as the CEO of ICEA Lion Group will now double up as the chief executive of the insurance holdings company, exiting his acting role as the principal officer of ICEA Lion General.
“The board is confident that with these appointments, together with the recent appointment of Ms Karimi as chief executive officer and principal officer of ICEA Lion Life Assurance, the ICEA Lion Group will continue its business momentum and growth agenda into the future,” said the board.
ICEA Lion Life and ICEA Lion General are housed under ICEA Lion Insurance Holdings, which is in turn owned by ICEA Lion Group.
ICEA Lion Life closed December with a market share of 16.2 percent, making it the second largest life insurer by premium after Britam Life Assurance (21.5 percent).
ICEA Lion General Insurance ranked eighth in terms of gross premium income with a market share of 4.56 percent, behind leader APA Insurance (9.05 percent).
In his new role, Mr Kioi will be responsible for managing the day-to-day operations of the business within the authority delegated by the board to ensure the long-term sustainability of the business.
“The board welcomes Godfrey to the ICEA Lion Group and looks forward to ICEA Lion General continuing to meet the needs of its customers to the highest standards whilst growing profitably under his leadership of the General team,” said the board.
Mr Kioi has over 25 years of experience in the insurance industry, having previously worked as chief accountant at ICEA Lion Life Assurance (then called Insurance Company of East Africa) and general manager for finance and investments at Sanlam Life Assurance (then called Pan Africa Insurance Company).
At APA, Ms Kirimi was responsible for developing and implementing business strategies, overseeing business and operational activities, and leading and directing teams.
