The CIC Insurance Group has appointed Patrick Nyaga, former Co-operative Bank’s Group Finance and Strategy Director, to fill the position of the Group Chief Executive Officer with effect from 22nd June 2020.
Nyaga has been a Director on the CIC Board for the past nine years and takes over from Tom Gitogo who was with the underwriter until 9th October, 2019.
Commenting on the appointment, Japheth Magomere, CIC Group Chairman of the Board said, “He has key strengths that will position him to drive the CIC Group business at this critical period. These include great links and experience with the co-operative movement, CIC’s core market segment and shareholder base.”
Nyaga brings over 28 years of experience gathered in various blue, chips including Absa (former Barclays Bank), audit firm KPMG and Co-operative Bank where he served most recently.
He holds an MBA from Strathmore Business School with a Bachelor of Commerce degree in Accounting. He is a Certified Public Accountant (K) and a member of ICPAK.
He will drive the digitisation of all the Group’s business processes to serve an emerging digital economy that has cropped up due to the COVID-19 outbreak together with the dip in the motor insurance business due to fewer people driving to and from work.
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