NAIROBI, Kenya, Jul 7 – Sanlam Kenya has confirmed the appointment of Stella Njunge as the Chief Executive Officer for its Life business.
The appointment of Njunge as the Principal Officer for Sanlam Life is part of the Sanlam Kenya Group efforts to enhance its human capital profile to guarantee sustained growth.
The appointment also marks a historical milestone as she becomes the first professional lady to ascend to the helm of one of the six publicly listed Life Insurance company in Kenya.
Speaking when he confirmed the appointment, Sanlam Kenya Group CEO, Mugo Kibati said the appointment of Njunge as the Sanlam Life Kenya CEO had been effected with immediate effect following a highly competitive executive selection process.
“At Sanlam Kenya, we are positive that Njunge will play a key leadership role at Sanlam Life as part of our Group efforts to enhance our capacity to meet the prevailing market needs and opportunities,” Kibati said, adding that, “As an equal opportunity employer, Sanlam Kenya is committed to fostering women in leadership as part of a salient corporate value.”
A Fellow of the Life Management Institute (FLMI) Ms. Njunge, joins Sanlam Life from Liberty Life, where she has been serving as the firm’s General Manager in charge of Retail business. With a wealth of experience gained over a 16-year professional career having served in ICEALION as well as Senior Accounting positions in GA Insurance and CFC Life.
A Master of Business Administration (MBA) Degree holder from Strathmore University, Ms. Njunge is a Certified Public Accountant and Secretary (CPA (K) and CPS (K) qualifications) and also a B.Sc. degree in International Business Administration (Accounting) from the United States International University.
Last year, Sanlam Life Insurance realised Sh4.4 billion Gross written premium as its Investment portfolio earnings increased by 50% from Sh1.4 billion in 2015 to Sh2.1 billion in 2016 driven by good investment return from the interest bearing exposure. Policyholder benefits increased from Sh4 billion to Sh4.3 billion attributable to maturities as well as an increase in annuity payments following strong new annuity business sales.