Change of guard at ZEP-RE as new MD takes over

December 6, 2016
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ZEP-RE Chairman William Erio (centre) hands over a gift to the outgoing Managing Director Rajni Varia with incoming Managing Director Hope Murera.
ZEP-RE Chairman William Erio (centre) hands over a gift to the outgoing Managing Director Rajni Varia with incoming Managing Director Hope Murera.

, NAIROBI, Kenya, Dec 6 – : ZEP-RE (PTA Reinsurance Company) has announced the appointment of Mrs. Hope Murera as the new Managing Director with effect from January 1, 2017.

Murera will replace Mr. Rajni Varia who has been at the helm of the company since 2008.

Confirming the appointment, ZEP-RE Board Chairman Mr. William Erio said the decision to have Mrs. Murera succeed Mr. Rajni was approved at the Company’s 25th Annual General Meeting held in Mombasa, Kenya on 27th May 2016.

“The Board is very pleased to welcome Mrs. Murera to her new role with her able expertise, knowledge and experience having been with ZEP-RE since 2002. The Board equally appreciates what Mr. Rajni has achieved for ZEP-RE for the period he has served the company as Chief Executive,” the Chairman said.

Under the leadership of Mr. Rajni and his management team, ZEP-RE has posted tremendous growth, recording a remarkable increase in gross premium income, profitability, shareholder funds, and has expanded its footprint across Africa and the Indian Sub- Continent, and at the same time setting industry standards.

He oversaw the achievement of impressive milestones during his eight (8) year tenure including the growth of the company’s gross written premium from USD38M when he took over to a projected USD140m in 2016 and growth in shareholders’ funds by eight-fold to a projected USD200m by end of 2016. The company also recorded profits cumulatively for the last eight years and total assets have also growth from a value of USD53m in 2004 to a projected USD340 at the end of 2016.

The company also recorded profits cumulatively for the last eight years and total assets have also growth from a value of USD53m in 2004 to a projected USD340 at the end of 2016.

“Mr. Rajni has also been involved in supporting clients across Africa and the Indian Sub- continent through risk surveying, structuring and advising reinsurance programmes and training young and seasoned insurance practitioners. Indeed, the industry has benefited immensely from his contributions and we are all indebted to him,” Mr Erio said.

The outgoing CEO expressed satisfaction with the role he had played at ZEP-RE and exuded full confidence in his successor.

“I am grateful for the opportunity I have had to make my contribution for the period I served the company as the Managing Director. It has been my desire to see the transitions that have happened.

“Hope is one of the best managers I know in whose hands I am confident this business will move to another level both in products and geographical expansion,” Mr. Varia said.

The chairman disclosed that Mr. Rajni will continue to engage with ZEP-RE on a part-time consulting basis. He will among other things be involved in realizing the dreams of our recently launched ZEP-RE Academy.

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