Sanlam Allianz Holdings (Kenya) PLC has appointed Jacqueline Karasha as its new Group Chief Executive Officer, effective November 1, 2026, following the retirement of Patrick Tumbo at the end of October.
In a notice dated October 15, the company said Karasha, who currently serves as Chief Executive Officer and Principal Officer of Sanlam Allianz Life Insurance (Kenya) Limited, would take over leadership of the group.
“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,” stated the company.
She succeeds Dr Nyambemba Patrick Tumbo, who is retiring on October 31 after serving as Group CEO since August 6, 2018.
Who Is Jacqueline Karasha?
Karasha is an insurance executive with more than 17 years of leadership, sales, and operations experience in the insurance sector.
At Sanlam Allianz, she has led efforts to turn around distribution channels, expand digital services, and build strategic partnerships to support the business’s long-term growth.
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At Sanlam Allianz Life Insurance (Kenya) Limited, she has led reforms to accelerate growth, strengthen the company’s position in the life insurance market, and increase shareholder value.
The company said her work has focused on customer service and innovation.
Karasha holds a First Class Honours degree in Actuarial Science from Jomo Kenyatta University of Agriculture and Technology (JKUAT). She also completed the Senior Leadership Development Programme at Stellenbosch Business School.
Her professional qualifications include a Fellowship of the Life Management Institute (LIMI), associate membership of the Insurance Institute of Kenya and an Underwriting Skills Certificate from Hannover Re.
The board said it welcomed her appointment and looked forward to her leadership.
Patrick Tumbo Retires After Eight Years as Group CEO
Patrick Tumbo will leave the position after more than eight years at the helm of Sanlam Allianz Holdings (Kenya) PLC.
The company said Tumbo has more than 35 years of experience in the insurance industry and has contributed to the sector’s development in Kenya and across Africa.
“He brings over 35 years of experience in insurance, and his career has helped shape the industry across Kenya and Africa by driving policy, expanding access and building an industry that works for everyone,” said SanlamAllianz.
Within the wider SanlamAllianz group, Tumbo serves on the Leadership Council of SanlamAllianz Africa.
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He has also held several industry leadership positions, including chair of the Organisation of Eastern and Southern Africa Insurers (OESAI) and the Association of Kenya Insurers.
Tumbo chairs and serves as trustee of the Insurance Training and Education Trust of Kenya, which operates the College of Insurance. He has also served on the boards of the Federation of Kenya Employers and the Kenya Private Sector Alliance.
Tumbo has received several industry awards during his career, including Africa Insurance CEO of the Year from the African Insurance Organisation (AIO), Insurance CEO of the Year at the COYABIMA awards and Gender Champion of the Year from the International Labour Organization and the Federation of Women Entrepreneurs.
He was also awarded the Elder of the Order of the Burning Spear (EBS) presidential commendation.
In 2026, he received a Lifetime Achievement Award at the Think Business Awards.
His academic and professional qualifications include an Honorary Doctorate in Business Administration, a Master of Business Administration in Strategic Management, and Chartered Insurer and Fellow status with the Chartered Insurance Institute of London.
About Sanlam Allianz, A Financial Services Giant With a Continental Footprint
Sanlam Allianz Holdings (Kenya) PLC is one of Kenya’s established insurance and financial services groups, offering insurance, investment and retirement products.
The company, which traces its roots back to 1946, is listed on the Nairobi Securities Exchange (NSE) and operates under the SanlamAllianz brand following the merger between South African insurer Sanlam and German financial services group Allianz.
The firm is part of SanlamAllianz network, which has operations across 25 African countries. The partnership combines the regional reach of Sanlam with the global insurance expertise of Allianz, creating one of the continent’s largest non-banking financial services groups.
Sanlam Allianz remained profitable in 2025, posting a profit before tax of KSh1.32 billion and a profit after tax of about KSh832 million. The company attributed the results to careful underwriting, cost control and improved reinsurance arrangements.
The group’s assets stood at KSh39.37 billion at the end of December 2025. It also raised its capital and reserves to KSh4.75 billion through a rights issue.
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