AAR Insurance Kenya (AAR) has appointed Justine Kosgei as its new Chief Executive Officer (CEO) and Principal Officer.
In a statement on April 12, AAR revealed that Mr. Kosgei will be succeeding Dr Patrick Gatonga and termed the appointment significant in their transformative journey.
“AAR is pleased to announce the appointment of Mr. Justine Kosgei as the new Chief Executive Officer, succeeding Dr. Patrick Gatonga who has served with distinction,” read the statement in part.
Before assuming his role at AAR Insurance Kenya, the newly elected CEO held prestigious positions in various organizations including the Divisional Director at APA Insurance and as Head of Operations at UAP/Old Mutual Rwanda.
Other roles included Head of Products & Underwriting at UAP Insurance and Regional Technical Manager – East Africa.
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Justine Kosgei Academic Qualifications
Mr. Kosgei earned his Bachelor of Commerce degree in Actuarial Science from Kenyatta University. He is a Fellow of the Life Management Institute (FLMI) and is an Associate of the Insurance Institute of Kenya (AlIK),
In addition, the new AAR CEO is a Certified Public Accountant (CPA) under Section 4 certification, among other credentials.
Moreover, he has completed leadership courses at the Harvard Kennedy School and the Aga Khan University.
Presently, he is pursuing a Master of Business Administration (MBA) and a Master of Science in Finance (MSC).
The statement further highlighted his significance in the growth of the company, noting that the company’s revenue has seen growth and a strengthened market share.
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“As a key member of our leadership team, he has played a pivotal role in driving remarkable growth, with a 32% increase in revenue and a strengthened market share,” ARR noted in the announcement.
“His focus on profitability through optimized claims ratios, efficient underwriting, and strategic partnerships has contributed to the company’s impressive 83% growth in profit before tax.”
Kosgei’s journey at AAR
AAR expressed its confidence in Mr. Kosgey’s ability to serve customers and meet their evolving needs with innovative products.
Mr. Kosgei joined AAR Insurance Kenya in November 2022 and assumed the role of Principal Officer in February 2023.
He has throughout his stint worked closely with the management to lead growth initiatives in current and emerging markets.
He is also credited for introducing new products such as SME Products, Budget Products, International Medical Insurance, Travel, and Professional Indemnity while enhancing existing offerings.
According to the AAR statement, Kosgei is enthusiastic about shwAARI, a medical cover that has garnered positive reception in the market, and is deemed to play a significant role in its evolution and expansion.
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