NAIROBI, Kenya, Sept 6 – Kenya Reinsurance Corporation Limited (Kenya Re) has temporarily suspended its Managing Director, Hillary Wachinga, for 21 days effective September 3, 2025, amid an ongoing internal review, the company announced in a public statement.
The Board of Directors described the suspension as a precautionary measure to allow for a thorough and impartial assessment of internal matters under review.
During this period, the company appointed Nicodemus Gekone, currently serving as General Manager for Property & Investments, as Acting Managing Director.
“This decision was made by the Board following a preliminary review of internal matters, which is ongoing,” the company said in a statement.
“The Board believes that this action is in the best interests of the Company and its stakeholders to allow for a thorough and impartial assessment.”
The Board emphasized its confidence in Gekone, citing his experience and long tenure at the company.
The company says his appointment is anchored one ensuring operational continuity while Kenya Re navigates the temporary leadership change.
The suspension comes at a critical period for Kenya Re, which has been actively pursuing strategic investments and reinforcing its underwriting portfolio in the East African market.
However, the Board reassured stakeholders that business operations would continue uninterrupted.
“The Board has full confidence in Mr. Gekone’s ability to provide steady leadership during this period.”
The Board said it remains focused on executing its long-term strategy and will provide further updates as necessary.
Kenya Re is one of the region’s leading reinsurers, providing risk management solutions across the insurance sector, and its leadership changes are closely watched by investors and industry players alike.
