Old Mutual’s 2025 disclosures show that the company recorded fraud-related losses amounting to Sh106.4 million during the year.
Sh106.4 million confirmed lost to fraud in a single year. Forty-two percent stolen by insiders. A decade of governance rot, legacy system vulnerabilities, a shareholder war, a medical book in strategic retreat, and an insurance service result now in the red. This is the story Old Mutual’s annual results do not tell you.
At the heart of the scandal is the tragic suicide of Sammy Methu Kiragu, former Chief Executive Officer of Sedgwick Insurance Brokers.
Old Mutual General Insurance Kenya Limited is facing a liquidation suit over a $3 million (Sh481.5 million) claim from a privately-owned air charter company whose helicopter had an accident in 2022. Tropic Air Limited, which operates a fleet of Cessna aircraft and helicopters, has issued a 21-day notice to Old Mutual to pay the amount […]
