Nairobi, 14 July 2021

ICEA LION Group has announced the appointment of Mr. Joseph Wangai as the Chairman of ICEA LION General Insurance Company Limited previously chaired by Dr. Christopher Obura and of ICEA LION Life Assurance Company Limited previously chaired by Mr. James Ndegwa.

Mr. Wangai is a Fellow of the Institute of Certified Public Accountants of Kenya with extensive experience in provision of auditing, accounting and business advisory services acquired during his 34 years with two of the big 4 professional services firms, Deloitte and PricewaterhouseCoopers. He holds a Bachelor of Commerce Degree and a Masters in Business Administration Degree, both from University of Nairobi.

Mr. Wangai retired from Deloitte East Africa in 2018 after serving the firm for 21 years as a partner. His key leadership roles at Deloitte included 15 years as the leader of the Audit and Assurance Business unit. He also served on various boards and board committees within the Deloitte Africa Governance structures including serving as the Deputy Chairman and the Chairman of Deloitte Africa Board. His career with Deloitte provided him an opportunity to develop a wealth of experience while serving as the Lead Partner in the provision of audit, transaction advisory and business transformation services to leading businesses in the Insurance, Investment, Reinsurance and Insurance Broking space in East Africa and the wider Africa region.

As a professional accountant he has made a lasting impact in the development of the accountancy profession in Africa. This includes serving as Chairman and Council member of the Institute of Certified Public Accountants of Kenya and also as the Deputy President of the Eastern, Central and Southern Africa Federation of Accountants. Mr. Wangai also serves on the boards of Kenyatta International Convention Centre and Kenya Open Golf Limited.

Dr. Christopher Obura retires as Chairman of ICEA LION General Insurance Company Limited having provided exemplary stewardship as a board member for 34 years of which he also served as Chairman for the last 28 years. His valuable contributions and achievements in this regard include leading ICEA LION General Insurance to become one of the leading general insurance companies in the region. The Company’s gross written premium in 2020 was Kes 6 Billion and its total asset base and shareholders funds were in excess of Kes 13.5 Billion and Kes 5.4 Billion respectively as at December 31, 2020. Dr. Obura has served as the Chairman and Director of several companies in Kenya, Uganda and Tanzania and the ICEA LION Group will continue to benefit from his rich expertise as he transitions to sit on the ICEA LION Insurance Holdings Board as a non-executive director. Dr. Obura’s profile is provided as Appendix I to this press release.

Dr. Peter Kamau retires as Director of ICEA LION Life Assurance Limited and the Chairman of the Board Audit & Risk Committee. Dr. Kamau has served on the ICEA LION Life Assurance Board for 32 years. His esteemed contributions and achievements in his service on the Board include guiding the Company to become the largest guaranteed fund manager in Kenya with the largest insurance company balance sheet in Eastern and Central Africa. As at December 31 2020, the Company’s Gross Premium and Contributions totaled Kes 14.82 Billion, Total Assets stood at Kes 103.6 Billion and Capital & Other Reserves closed the year at Kes 13.36 Billion. The ICEA LION Group will continue to benefit from his years of leadership experience as he moves on to join the ICEA LION Insurance Holdings Board as a non-executive director. Dr. Kamau’s profile is provided as Appendix II to this press release.

Commenting on the Board Transitions and Appointments, ICEA LION’s Group Chairman, Mr. James Ndegwa stated: “Dr. Obura and Dr Kamau will always hold special places in ICEA LION’s history. Having been among the longest serving directors and having worked with the founders of the Group, they have provided stewardship, leadership and governance that has seen ICEA LION become a leading insurance player in the East Africa region. We are indebted to them for their service and commitment. I also take this opportunity to warmly welcome Joe Wangai to the Group and to congratulate him on his appointment as Chairman of both ICEA LION General and ICEA LION Life. We have every confidence that under his leadership the two boards will play their full role and responsibilities in pursuit of the Group’s vision and strategy, in adhering to the values and standards that we espouse and in meeting the expectations of all stakeholders.)”

For more information contact:

Nkatha Gitonga

Group Manager Marketing & Communications

ICEA LION Group

Nkatha.Gitonga@icealion.com

+ 254 722 844 304

Paul Sagati

Group Assistant Manager Marketing & Communications

ICEA LION Group

Paul.Sagati@icealion.com

+ 254 724 971 345