Britam Group has announced that Dr. Benson Wairegi is set to step down from the Board of Britam Holdings on 28th May this year, after serving in the company for more than four decades. The announcement comes barely four months after he retired from the role of Group Managing Director on 31st January, 2021 .
The 68-year old executive joined Britam in 1981 as a Chief Accountant. He rose through the ranks to the position of Group Managing Director in 1995, a position he held for 26 years until his retirement this year. He has helped grow Britam from a small home insurance provider to a regional leader in the insurance and financial services sector.
Britam has undergone several leadership changes in recent years as it seeks to stay ahead in the fast-changing business environment. Earlier this year, Dr. Wairegi officially handed over the company’s leadership to Zimbabwean national, Tavaziva Madzinga.
In March, Britam Holdings trimmed its management team from 20 members to 11 members in an attempt to lower its operating expenses. The company also announced plans to cut up to 15% of its workforce in the coming months.
Dr. Wairegi’s departure from the board of Britam Holdings will leave ten members on the board.
Benson Wairegi joined PriceWaterHouseCoopers in 1977, at the age of 24, as an audit trainee. In 1980, he joined British-American as the Chief Accountant. In 1984, Wairegi bought a 3.3% stake in Britam, while encouraging other Kenyans to do the same. That same year, he was appointed Chief Executive Officer at the company. Over the years, his investment in Britam has grown tremendously.