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Report: Kenya's First Assurance managing director leaves

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Report: Kenya's First Assurance managing director leaves

Stephen Githiga has left Kenyan insurance firm FirstAssurance, where he had served as managing director since 2003, Business Daily Africa reported.

BarclaysAfrica Group Ltd. acquireda 63.3% stake in First Assurance in September 2015 for about 2.9 billion Kenyanshillings, the paper noted in its July 5 report.

Lanz Zulu, Barclays Africa's managing executive for wealthinvestment management and insurance, said Githiga "will be moving on topursue other interests outside the group." William Maara will take over asacting managing director of First Assurance in addition to his role as BarclaysLife Assurance Kenya managing director, subject to regulatory approval.

As of July 5, US$1 wasequivalent to 101.16 Kenyan shillings.