Sanlam Allianz Holdings Appoints New CEO

Sanlam Allianz Holdings Kenya has appointed Jacqueline Karasha as the new Group Chief Executive Officer (CEO). 

In a notice on Thursday, October 22, Sanlam Allianz said the appointment of Karasha takes effect on November 1, 2026. 

Karasha has been serving as the Sanlam Allianz Life Insurance Kenya CEO. 

“The Board of Directors is pleased to announce the appointment of Jacqueline Karasha as the Chief Executive Officer of Sanlam Allianz Holdings (Kenya) PLC, effective 1st November 2026. 

“She is currently the Chief Executive Officer/Principal Officer of Sanlam Allianz Life Insurance (Kenya) Limited,” read the notice in part. 

Karasha boasts more than 17 years of experience across leadership, sales and operations in life insurance. 

She is a graduate of Stellenbosch Business School's Senior Leadership Development Programme and holds a First-Class Honours degree in Actuarial Science from JKUAT. 

The New Sanlam Allianz Holdings CEO is also a Fellow of the Life Management Institute (FLMI), an Associate Member of the Insurance Institute of Kenya, and holds an Underwriting Skills Certificate from Hannover Re. 

Karasha will take over from Patrick Nyamemba Tumbo, who is set to retire on October 31, 2026. 

Tumbo was appointed Group CEO on August 6, 2018, and has led the Group for more than eight years.

Sanlam Allianz Holdings board thanked Tumbo for his service at the group and wished him success in his next chapter. 

“The Board, Management and the entire Sanlam Allianz family thank Dr. Tumbo for his service and his lasting contribution to the Group. We wish him every success in the next chapter,” the notice added. 

This comes weeks after the Central Bank of Kenya (CBK) approved the appointment of Abdi Mohamed as the new Chief Executive Officer (CEO) of I&M Bank. 

In a statement on Monday, October 5, I&M Bank announced that Mohamed will formally assume the role following the approval. 

“We are delighted to welcome Abdi Mohamed as our new Chief Executive Officer, following regulatory approval by the Central Bank of Kenya,” read the statement in part. 

Mohamed joins I&M Bank with more than 30 years of experience in the financial services sector, having worked across Kenya and other African markets.

I&M expressed confidence that the new CEO will accelerate the bank’s growth while prioritizing customers and employees and strengthening its Pamoja culture. 

“His leadership will focus on accelerating our growth, putting our people and customers first, and strengthening our Pamoja culture, while delivering sustainable value to our shareholders, communities and the wider economy,” the bank stated.