Britam has named Tavaziva Madzinga as the new Group Managing Director, replacing Benson Wairegi who retires on January 31.
Mr Tavaziva Madzinga, popularly known as Tava, is Swiss Re’s Managing Director and Country President for the UK, having previously been responsible for the Middle East and Africa region.
He joined Swiss Re on November 1, 2016 from Old Mutual where he held a number of senior positions, including Regional CEO Southern and East Africa, COO for Rest of Africa, and CEO West Africa.
He is a qualified Actuary and a Fellow of the Institute of Actuaries (FIA) and the Actuarial Society of South Africa (FASSA). He has also completed management courses at INSEAD Business School in France and Harvard in the United States of America.
The Group had failed to name Mr Wairegi’s replacement in time, forcing him to stay in office beyond his retirement date which was set for December 31, 2020.
According to reports, this was occasioned by boardroom wars between the current owners, termed as Murang’a Group, led by Benson Wairegi and Peter Munga on one side and the new Private Equity Owners, including IFC, Swiss Re and AfricInvest on the other side.
The “Murang’a group” was keen to install one of their own as the CEO, Ms Glady Karuri.
It is also reported that the current Britam chairman, Andrew Hollas, is also set to leave alongside the group CEO Wairegi.