CIC appoints Patrick Nyaga Group Chief Executive

The Board of listed underwriter CIC Insurance Group has announced the appointment of Patrick Nyaga as Group Chief Executive.

Nyaga joins the insurer from Cooperative Bank Group – one of the largest shareholders of CIC Group – where he served as Head of Finance and Strategy.

Group Chairman Japheth Magomere said that Nyaga, set to take office on June 22, has “key strengths” enabling him to steer the insurer as the Covid-19 pandemic that is sinking companies unfolds.

“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,” said Magomere.

Nyaga is taking over from Tom Gitogo who exited last October.

CIC Group is made up of three subsidiaries and an associate company including CIC Life Assurance, CIC General Insurance Limited, CIC Asset Management Limited, and Takaful Insurance of Africa Limited.