SICOM Appoints Industry Veteran Ashok Prayag as New Chairman

Ashok Prayag has been appointed as the new chairman of state-owned insurer, SICOM. An established professional with deep roots in the industry, Prayag played a pivotal role in expanding the African arm of Munich Re, the German multinational renowned as a leader in reinsurance during the 1990s.

In 2014, he founded and managed Mauritius’s first online insurance company and has served on the boards of various organisations throughout his career.

The newly formed board features a diverse array of experts, including Olivier Lew, a start-up entrepreneur and ICT specialist; Valérie Duval, a seasoned legal expert with experience in both Mauritius and Africa; and Junaid Sairally, a strategic management and decision-making professional.

SICOM’s Subsidiaries

“It is both an honour and a challenge to be invited to preside over this financial conglomerate, which encompasses the well-known insurance holding SICOM and its five subsidiaries,” Prayag remarked in a press release issued on Thursday, 6th March.

“I have full confidence in the management team, whose commitment is undeniable. This operational continuity, backed by varied expertise in leadership, strategically positions SICOM for success both locally and internationally.”

The SICOM board now also includes Ushalini Shewraj, representative from the Ministry of Financial Services and Economic Planning, and executive directors Nandita Ramdewar (Group CEO) and Dev Gopy (Chief Investment Officer).

Source: Defi Media