Mr. Mathew Koech, elected Association of Kenya Insurers (AKI) Chairman during the Association’s annual general meeting
Mr. Mathew Koech was unanimously elected as the Board Chairman of the Association of Kenya Insurers (AKI) during the Association’s annual general of March 2019.
Mr. Koech, who is the Managing Director of Fidelity Insurance, has been the acting AKI Chairman following the resignation of Mr. Hassan Bashir as CEO of Takaful Insurance in late 2018.
During his two-year term, Mr. Koech plans to focus on getting the industry back to the double digit growth. He noted that the insurance industry profits have been declining over the years thanks to a challenging economic environment coupled with uneconomical premium rates. “The cooperation of member companies is necessary for the growth of the industry. We will need to instill market discipline and proper business practice to turn around the fortunes of the industry”, he noted in his acceptance speech.
Mr. Koech has 26 years working experience with 16 in the insurance industry both locally and regionally. He holds a Bachelor of Commerce (Accounting) from University of Nairobi and is a Certified Public Accountant (CPA K).
Other members of AKI’s board include: Mr. Vijay Srivastava [GA Insurance], Mr. Ashok Gosh [Occidental Insurance], Mrs. Catherine Igathe [AIG Kenya], Mr. James Ngujiri [Pacis Insurance], Mr. Joshua Njiru [Madison Insurance], Mr. Tom Gitogo [CIC Group], Mr. Jerim Otieno [UAP- Old Mutual], and Mr. James Oyugi [Metrpolitan Cannon Life Insurance]. Mr. Patrick Tumbo [Sanlam] is an ex- officio member of the Board, while Mr. Tom Gichuhi is the Secretary to the Board and Executive Director of the Association.