ICEA Lion appoints new CEO

George Nyakundi

ICEA Lion Life Assurance has appointed George Nyakundi as the new chief executive following the retirement of Justus Mutiga after 27 years with the firm.

Mr Nyakundi (pictured) was ICEA Lion’s general manager for business development and technical services.

A statement form the company said Mr Mutiga had overseen huge growth since his appointment in 2012, with gross premium rising from Sh5 billion to over Sh14.6 Billion last year.

Total assets strengthened from Sh32 billion in 2012 to over Sh100 billion in 2020.

ICEA Lion Group Chairman James Ndegwa said Mutiga was passionate about the advancement of life insurance, pensions and investments, and generously shared his knowledge and experience.

“The industry is truly indebted to him for his contribution. 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,” he said.

Mutiga said he was leaving behind a solid business “built on integrity and customer focus.”

“I leave the business in very stable hands,” he said, thanking the company and industry for the support.

Nyakundi started his career at Kenindia Assurance in 1988 before briefly moving on to Occidental Insurance as the marketing and administration manager, and later to Jubilee Insurance in 1999 as a senior underwriter for the life insurance business in East Africa.

He left Jubilee in 2006 to join Alliance Insurance Corporation in Tanzania as the head of the life business.

After working out of the country for 10 years, Nyakundi returned to Kenya and joined the ICEA Lion Group.