The board of ICEA Lion General Insurance Co. Ltd has announced the appointment of Paul Muthaura as the Chief Operating Officer for General Business with effect from 1st May 2020. The position has been newly created with a view of strengthening the Company’s leadership structure.

Mr. Muthaura was until the end of last year the CEO of the Capital Markets Authority a position which he held for 7 years. Interestingly, the Chairman of the CMA board that is James Ndegwa is also the Chairman of the ICEA board.

He brings on board 18 years of experience as a highly strategic and purpose driven corporate leader. He worked with the CMA for 14 years in which he was able to position the authority as the most innovative Capital Markets regulator in Africa.

He 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.