Britam Holdings Plc Group has announced the appointment of Tavaziva Madzinga as the Group Managing Director with effect from February 1, 2021.
Madzinga will be taking over from Dr Benson Irungu Wairegi, who is set to retire on January 31, 2021.
The changes were announced in an internal circular to Britam directors and staff on Monday, with company chairman Andrew Hollas lauding Dr Wairegi for his 40 years of service.
Hollas noted that Dr Wairegi helped the company grow from a small home service insurance to a listed multinational at the Nairobi Securities Exchange, with presence in 7 African countries.
“On behalf of our shareholders and the Board, I want to express my deep appreciation to Dr. Wairegi for his steady leadership which has seen Britam experience rapid growth during his tenure as the Group Managing Director,” said Hollas.
He added, “The Board appreciates Dr Wairegi’s service and wish him the very best in his future endeavors. As a result of his experience in the Industry, Britam will continue tapping into his skills in different capacities.”
Dr Benson Irungu Wairegi. PHOTO/COURTESY
Incoming MD Madzinga is an actuarial scientist, who holds a Bachelor of Science Degree from the University of Cape Town and attended INSEAD Business School, France and Harvard Business School.
He has more than 20 years’ experience in the Insurance industry and has served in various capacities, including CEO Swiss Re (UK & Ireland), MD Swiss Re Middle East & Africa and Regional CEO South & East Africa Old Mutual.
Madzinga worked for Swiss Re, the world's second-largest reinsurer, for three years and at Old Mutual for 16 years which included being the Chief Executive Officer in Kenya.
Accordig to Britam, the Zimbabwean was appointed following an in-depth recruitment process spanning more than two years.
“The Board is confident that the Company will benefit immensely from Mr. Madzinga’s skills, knowledge and vast experience,” Hollas added.