Ex-CMA Boss Now Joins ICEA Insurance As The New COO

ICEA Lion General Insurance has appointed former Capital Markets Authority (CMA) boss Paul Muthaura as the Chief Operations Officer, marking his return to the private sector after a 15-year hiatus. The insurer’s board said that Muthaura will start serving in the newly created position with effect from May 1, noting that the position was created to strengthen the leadership structure. Mr Muthaura left CMA in December 2019. In his new role, he reports directly to the CEO of ICEA.

“With his track record as a champion of fintech adoption, his very broad exposure, rich career and diverse leadership experience, Paul will be of great benefit to the company and indeed to the ICEA Lion Group,” said Steve Oluoch, ICEA Lion General Company CEO.

Muthaura’s new appointment marks his first full return to the private sector since 2005. He has served as a senior corporate associate at the prestigious law firm, CMS Daly Inamdar Advocates between 2001 and 2005, before crossing to the public sector through CMA. He has more than 18 years of experience as a corporate leader in the financial and legal sectors.

Mr Muthaura joined CMA as a senior legal officer for a regulatory framework in September 2005 and rose through the ranks to become the CEO from July 2012 until his exit last year. During his 14-year tenure at CMA, the organisation was ranked as the most innovative capital markets regulator in Africa five years in a row.

He holds a Masters in Law Banking and Finance and a Masters in philosophy. He is a member of the Chartered Insurance Institute, UK, and served as a board member of the Insurance Regulatory Authority (IRA) and the Retirement Benefits Authority (RBA).