George Nyakundi has been announced as the new ICEA Lion Life Chief Executive Officer, effective 1st January 2021. He takes over from Justus Mutabari Mutiga, who has retired, after 27 years with the firm.

Mr. Nyakundi was previously the company’s General Manager Business Development & Technical Services.

He has a vast career background spanning about 30 years in the life insurance sector. He began his career at Kenindia Assurance in 1988, before briefly moving on to Occidental Insurance as the Marketing and Administration Manager. He later joined Jubilee Insurance in 1999 as a Senior Underwriter before leaving in 2006 to join Alliance Insurance Corporation in Tanzania as the Head of the Life Business, where he later took over as the Chief Executive Officer in 2013.

With a Bachelor’s Degree in Economics from Napier University in Scotland, Mr. Nyakundi is also an Associate of the Chartered Insurance Institute of London. He holds a Life and Disability Underwriting (DLDU) diploma from the Assurance Medical Society, London.

The outgoing CEO, Mr. Mutiga, has been CEO at ICEA Lion Life and has sat on the board of Lion Asset Management and ICEA Lion Trust Company. He has previously been Chairman of the Association of Kenya, Director (Chairman) of the Insurance Institute of Kenya and a Founder Council Member of the Association of Retirement Benefits Schemes.

On his departure from the company, ICEA LION Group Chairman, James Ndegwa stated, “ICEA LION Group has benefited immensely from his contribution and we look forward to retaining and tapping into his wealth of knowledge as he joins the holding company board as non-executive director.”

ICEA Lion Life is a subsidiary of the ICEA Lion Insurance Holdings Limited, formed from the joining of Insurance Company of East Africa Limited (ICEA) and Lion of Kenya Insurance Company Limited, over a decade ago.