Benson Wairegi has been at the helm of Britam for 40 years. He has announced that he will be retiring at the end of his current three-year-term coming to an end in December 2020.
“The board is seized of the matter. They have actually engaged and started a search for my successor. Whether it’s internal or external (replacement), that’s now for the board to decide. But the process actually began as long as two years ago. That should not worry about the market. It should not worry about anybody,” he said in a statement.
Wairegi holds a 4.01 percent stake worth 715.7 million shillings making him eligible as a board director. He is also the Chancellor of Kenyatta University, a former chairman of the Association of Kenya Insurers (AKI), and former board member of the Board of Trustees of the Insurance Training and Education Trust (ITET). He is also a director of HF Group Limited and Scale-Up Kenya.
Britam is a leading diversified financial services group listed on the Nairobi Securities Exchange. The Group has a presence in seven countries in Africa namely: Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi.
The Group offers a wide range of financial solutions in life assurance, general insurance, health insurance, retirement planning, asset management, property, and banking.