The Equity Group Holdings Board has appointed Jonas Mushosho as the inaugural Chairman of Equity, subject to the approval of the Insurance Regulatory Authority (IRA).


Mushosho is currently the Insurance Trade Finance Programme Coordinator at Afri Exim Bank.

Jonas has previously held various positions at Old Mutual, including Managing Director (MD) at Old Mutual Life-Zimbabwe, Group CEO at Old Mutual-Zimbabwe, and MD at Old Mutual-Rest of Africa.

He holds postgraduate qualifications from Harvard Business School (USA), Insead Business School (France), and London Business School (UK), an MBA from the University of Zimbabwe, and undergraduate BSC accounting (Zimbabwe) and BSC computing (SA).

Consequently, the Group has received regulatory approval from the Insurance Regulatory Authority (IRA) to set up a general insurance company following the successful launch of Equity Life Assurance Kenya (ELAK) in 2022.

ELAK’s gross written premium hit Kes3.99 billion with 4.1 million issued policies in the nine months it has operated since last year on receipt of product licences.

Further, it hit Kes281 million in its profit after tax, among others.

The impact of the early success of the life insurance business inspired the Group Board to seek the General Insurance business licence.

Its entrants into the industry seek to promote insurance inclusion in Kenya and on the African continent with affordable and reliable healthcare services.