CIC Group Taps Co-op Bank’s Director Finance & Strategy Patrick Nyaga as Chief Executive

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CIC Insurance Group Plc has appointed Mr Patrick Nyaga as chief executive effective 22 June 2020.

He has served the CIC Group as a board member since 2011. He takes over from Mr. Tom Gitogo who quit in October, 9th, 2019. Following the exit of Mr. Gitogo, the CEO position was under Mr. Elijah Wachira, in an acting capacity.

Nyaga has a wide experience of over 28 years in Kenya and region with various organisations. He was the Group Finance and Strategy Director for Co-operative Bank Group.

Previously worked at KPMG (EA), with the main focus being audit of financial institutions and especially banks in Kenya and the region. 

His track record as a champion for strategy, broad experience in operational efficiency and diverse leadership experience will be of great benefit to CIC Insurance Group. The Insurance Regulatory Authority has approved his appointment as the Group Chief Executive Officer,” says Japheth Magomere, Group Chairman.

According to the CIC Board, Nyaga has “Key strengths that well position him to drive the CIC Group business at this critical period which include great links and experience with the co-operative movement who are CIC’s core primary market segments as well as core shareholder base.”

“He is also in a vantage position to replicate the board globally acclaimed new performance drivers in operational efficiency…to drive implementation thereof as Head of Finance and Strategy in his previous employment.”

Nyaga holds an MBA from Strathmore Business School, a Bachelor of Commerce degree in Accounting is a Certified Public Accountant (K) and a member of ICPAK.