Muthe appointed ICZ’s new chief executive

Muthe appointed ICZ’s new chief executive

Staff Writer

HARARE, The Insurance Council of Zimbabwe (ICZ) has appointed seasoned insurer Donald Muthe as its substantive chief executive officer, Insurance24 has learnt.

Muthe, who is succeeding Tendai Karonga, is coming in with a wealth of experience in the sector.

Muthe has over 35 years of professional experience in leading the general insurance business and possesses a strong technical, leadership, and strategy formulation and implementation background.

He began his career at Old Mutual Zimbabwe as the technical manager in 1993, after which he rose to the position of general manager in 1996.

Muthe was then promoted to the role of Managing Director of Old Mutual Zimbabwe in 2003, a position that he held until December 2021, prior to this appointment.

During his career, Donald has held various industry positions, such as Chairman of the Insurance Council of Zimbabwe, Chairman of the Technical Subcommittee, Chairman of the Special Risk Consortium, Member of the Non-Life Advisory Committee to the Insurance Regulator, and Trainer for Industry Members. He is and has been in the past a director in good standing in various companies.

His key achievements include leading Old Mutual Insurance (General Business) from market position 6 in 2009 to position 1 by 2013, a position the company has maintained to date.

Secondly, through his leadership, the business achieved growth in its balance sheet from $6 million in 2009 to $70 million in 2018. He was also tasked with turning around Old Mutual Nigeria General Insurance, which indeed has managed to turn around the performance, governance, and control environment, among other dimensions.

He holds a Master of Business Administration degree from Nottingham Trent University, UK, and a diploma in strategic management. He is a chartered insurance practitioner (CIP-UK) and an associate of the Chartered Insurance Institute (CII-UK). He has also attended various professional and leadership courses in Africa and Europe.

ICZ is an association of short-term insurers and reinsurers in Zimbabwe who are registered and duly licensed by the Insurance and Pensions Commission.