This archive report was first published on 23 December 2019.
Stephen Wandera, Britam's former Principal Executive Director, has retired after serving the company for 26 years. He hit the age 60 ceiling, marking the end of his tenure.
Wandera joined Britam in August 1993 as a Business Development Manager and rose through the ranks to become Principal Executive Director, overseeing operations in Uganda, Malawi, Rwanda, Tanzania, and Kenya.
Under his leadership, Britam grew from a small life insurance company in Kenya to a leading diversified financial services company operating in several countries in the East, Central, and Southern African regions.
Group Managing Director Benson Wairegi praised Wandera's contributions, saying, "Stephen has been a key member of the leadership team that has steered the growth of Britam."
Wandera will continue to serve Britam as a board member in some subsidiaries, starting from December 2019.
Britam has also undergone other changes in its executive board, including the appointment of Jackson Theuri as Interim CEO of the General Insurance Business in October, following the abrupt resignation of Margaret Kathanga.
Despite these changes, Britam recorded impressive performance in 2019, with a 78% growth in pretax profit in the first half of the year, posting a pretax profit of Ksh 2.4 billion.
