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Jubilee Insurance CEO resigns; parent Jubilee Holdings appoints group COO

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Jubilee Insurance CEO resigns; parent Jubilee Holdings appoints group COO

Jubilee Insurance CEO Patrick Tumbo resigned from the company, Nairobi, Kenya's Business Daily reported.

Tumbo will be replaced by Julius Kipng'etich, the regional CEO of the company's parent, Kenya-based Jubilee Holdings Ltd., on an interim basis. Phillip Kimani, the CFO of the Jubilee Insurance's Kenya operations, will take over Tumbo's role as principal officer.

Additionally, Jubilee Holdings appointed Ali Rawji, its group CFO, as group COO.

The insurer will also split into three separate units — medical insurance, life insurance and general insurance — before the end of the year. The split is still subject to regulatory approval.