trending Market Intelligence /marketintelligence/en/news-insights/trending/bt1ry2opbjzrwtn8cctnqq2 content esgSubNav
In This List

Ex-Kenya Re boss seeking compensation for alleged wrongful termination

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Ex-Kenya Re boss seeking compensation for alleged wrongful termination

Former Kenya Reinsurance Corp. Ltd. Managing Director Jadiah Mwarania has petitioned the Employment and Labour Relations Court for his alleged wrongful dismissal and is seeking 82 million Kenyan shillings as compensation, Business Daily Africa reported June 4.

Mwarania, who is open to negotiating with his former employer and would consider an offer to return to the helm, said his contract was renewed in 2017 and would expire April 26, 2021. He claims he was dismissed because he complied with a national directive that required some board members to retire.

The newspaper reported that board Chairman David Kimei alleged in a court filing that Mwarania failed to adequately address substandard management, leading to a ratings downgrade.

The judge overseeing the case has given all parties involved until June 8 to finalize the terms of a deal, according to Business Daily Africa.

As of June 4, US$1 was equivalent to 100.87 Kenyan shillings.