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Kenya Re reinstates CEO after two months suspension
Kenya Re Group Managing Director Dr Hillary Wachinga speaks during the launch of the corporation’s International Life Reinsurance Operations at Reinsurance Plaza in Nairobi on February 26, 2025.
Kenya Reinsurance Corporation (Kenya Re) has reinstated managing director Hillary Wachinga after two months of suspension over allegations that he had unprocedurally dismissed two employees.
The reinsurer’s board said on Thursday in a notice that Dr Wachinga has been restored to his position. The board did not disclose the findings of the “preliminary review of internal matters” that had prompted his suspension.
“The board has lifted the suspension of Dr Hillary Wachinga and restored him to his position as the managing director of the corporation,” said the board in a notice.
“The board of directors remains focused on overseeing the execution of the corporation’s long-term strategy and furthering the interests of all its shareholders and stakeholders.”
Dr Wachinga’s reinstatement comes barely a month after he withdrew the case in which he had sued Kenya Re board for unprocedural suspension and invitation for a disciplinary hearing.
The law suit revealed that Dr Wachinga had been suspended over what the board termed as “not complying with instructions” in the handling of a disciplinary matter involving two of the reinsurer’s staff.
Dr Wachinga was first suspended on September 3 for 21 days before the board extended this for a further 21 days that ran from October 2.
Kenya Re’s share price at the Nairobi Securities Exchange dropped 8.38 percent on the day Dr Wachinga was first suspended, closing as the day’s top loser at Sh3.17.
On Thursday, the stock opened at Sh3.13, which was 8.6 percent below the Sh3.62 level it traded at before the suspension.
Dr Wachinga had moved to court on September 22, 2025, accusing Kenya Re of violating his constitutional rights through a disciplinary process that he said was “in bad faith” and risked violating his rights to “fair hearing, fair labour practices and fair administrative action.”
In his court filings, Dr Wachinga argued that he had received two letters —a suspension letter dated September 2, 2025 and a show-cause letter dated September 3, 2025— which he described as contradictory.
He had been invited to a disciplinary hearing on September 23, 2025. However, the session did not proceed after the court issued a temporary freeze following Dr Wachinga’s application.
Court records show that both parties filed submissions —Dr Wachinga on September 24 and the reinsurer on October 6.
The case was scheduled for a ruling on October 23 after a mention hearing on October 7. However, before the court could pronounce itself on whether the disciplinary process should proceed, Dr Wachinga filed a notice to withdraw the entire case.
