The Board of ICEA LION General Insurance Company Limited has appointed Mr Paul Muthaura as Chief Operating Officer (COO), a newly created position with effect from 1st May, 2020.
Muthaura, formerly the Chief Executive Officer of Capital Markets Authority(CMA), is expected to strengthen the firm’s leadership structure.
He is expected to deploy his more than 18 years experience in the financial and legal sectors, including 14 years at the helm of CMA.
He also has a legal background with a Masters of Law degree( Banking and Finance) and a Masters in Philosophy. Muthaura is a member of the Chartered Insurance Institute UK, an advocate of the High Court of Kenya. He has sat on several boards including Financial Stability Board (FSB), Toronto Centre for Leadership in Financial Supervision, Retirements Benefits Authority (RBA), Vision 2030 Delivery Unit and Insurance Regulatory Authority(IRA).
ICEA LION, with interests in Insurance, Pensions, Investments and Trusts, is considered one of the largest insurers and financial services companies in East Africa. The Group has branches across Kenya with its Head Offices in Nairobi.
Latest IRA figures indicate that ICEA LION Life Assurance has a market share of 13.6 per cent in the life assurance business, third behind Jubilee with 14.3 per cent and Britam at the top with 24.1 market share.