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Board of Directors

The Board of Directors are appointed as follows:

(i). Chairman is appointed by the President on the recommendation of the Minister for Finance;
(ii). Chief Executive Officer is appointed under section 3E of the Insurance Act Others are;

(iii)Permanent Secretary, Ministry of Finance or his representative.
(iv). Chief Executive Officer of the Retirement Benefits Authority
(v). Chief Executive Officer of the Capital Markets Authority
(vi).  Governor of the Central Bank of Kenya or his representative; and
(vii).  A nominee of the Insurance Institute of Kenya;
(viii). four other members, not being public officers, appointed by the Minister for Finance
As a rule, the Chairman and other members of the Board are appointed from amongst persons that have knowledge or experience in matters relating to insurance, finance, banking or actuarial science.

       

Hon. Abdirahin Haithar Abdi-

Chairman

   

Godfrey K.Kiptum Ag. CEO,

Insurance Regulatory Authority

Dr. Kamau Thugge, EBS, Principal Secretary, National Treasury

 

Mr. Nzomo Mutuku

Ag.CEO, Retirement Benefits Authority


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Mr. Paul Muthaura

CEO, Capital Markets Authority

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CBK gov

 

Dr. Patrick Njoroge
Governor,
Central Bank of Kenya

 

Ms. Alice M. Njoroge

Ms. Alice M. Njoroge

Member

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 Mr. Douglas Kailanya

Mr. Douglas Kailanya

Member

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 Mr. Paul K. K. Cheboi

Mr. Paul K. K. Cheboi

Member

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 Ms. Joyce K. Muchena

Ms. Joyce K. Muchena

Member

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As spelled out in the Insurance Act, the functions of the Board of Directors are to:

(i). Control, supervise and administer the assets of the Authority in such a manner and for such purposes as best promote the purpose for which the Authority is established.
(ii). Determine the provisions to be made for capital and recurrent expenditure and for the reserves of the Authority.
(iii). Receive grants, gifts, donations or endowments on behalf of the Authority and make legitimate disbursements there from.
(iv). Enter into associations with such other bodies or organisations, within and outside Kenya, as it may consider desirable or appropriate and in furtherance of the purpose for which the Authority is established.
(v). Open a banking account or banking accounts for the funds of the Authority.
(vi). Invest the funds of the Authority not currently required for its purposes in the manner provided in this Act.
(vii). Formulate Authority’s Policies, Procedures and Practices that govern its operations and management.
(viii). Appoint staff for the Authority and determine their salaries, benefits and allowances payable.
(ix). Establish Board Committees and assign members of the Board to each of the committees.

The Audit, Risk Management and Corporate Governance Committee

These are members of the Audit, Risk Management and Corporate Governance Committee
1.       Ms. Alice Njoroge – Chairperson
2.       Mr. Paul K Cheboi
3.       Ms. Joyce Muchena
4.       Mr. Paul Muthaura
5.       Mr. Matu Mugo
6.       Mr. Nzomo Mutuku

The Committee meets four times in a year on a quarterly basis.