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Jubilee insurance boss quits citing frustration

Jubilee Insurance chief executive officer Patrick Tumbo has resigned. He had served the company for nearly 10 years in different capacities.

He joined the company  in 2008 as general manager for General Insurance division and was later elevated to CEO and principal officer.

Company chairman Nair Juma accepted Tumbo’s resignation.  Ali Rawji, the group’s chief finance  and group chief operating officer, is likely to replace Tumbo. “The board expresses its appreciation for his service and dedication to the organisation,” Juma said.

Jubilee Insurance Company of Kenya also announced that the Kenya business will be split into three separate companies subject to regulatory approval before the end of the year.

They include Life Insurance, Medical Insurance and General Insurance with each company having its own chief executive officer.

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