Directline Assurance is looking for a new CEO hardly three months after its former boss, Sammy Kanyi, was ejected amid a shareholders’ row at the country’s second-largest public service vehicles insurer.
The development follows the exit of Mr Kanyi in September last year after one of the insurer’s top shareholders, Samuel Kamau (SK) Macharia, ejected several senior management staff as wrangles over control of the company escalated.
Mr Kanyi, whose position was taken over by Wilson Wambugu Maina in an acting capacity, has since moved to Kenya Orient Insurance as CEO and principal officer. Directline now wants to fill the substantive CEO position.
“This position is responsible for establishing and achieving short and long-term strategic goals of the company. The role holder will also provide leadership in compliance with regulatory requirements and, in liaison with the board, make strategic, operational and financial decisions,” the company said in a job advertisement.
The September reshuffles by Mr Macharia included the appointment of Stella Kinoti as chief finance officer and Elizabeth Kuria as her deputy. James Mari was appointed ICT manager.
The incoming CEO will need to arrest the continued erosion of Directline’s market share while navigating an ownership dispute that remains before the courts.
Directline had long been the country’s top commercial PSV insurer but lost its market leadership position in March last year to Africa Merchant Assurance (Amaco), which is partly owned by President William Ruto’s family and associates.
Mr Macharia has claimed that the company’s shareholding was unlawfully altered, leading to disputes that at one point saw him withdraw Sh400 million from the insurer before the Insurance Regulatory Authority (IRA) ordered him to reverse the transaction.
IRA data shows Amaco commanded a market share of 50.75 percent in the motor commercial PSV business as at the end of June 2025, having overtaken Directline, which closed the period with 38.4 percent.
The data also shows that Amaco, which by the end of 2023 commanded just 14.95 percent of commercial PSV premiums, has been steadily gaining ground, overtaking Directline, which held 61.56 percent as at December 2023.
