Ipec boss Karonga resigns

 Insurance and Pension Commission (Ipec) commissioner Tendai Karonga has resigned after falling out with the regulator’s board. This comes, just over a year after he took over from Marnet Mpofu who left the commission following the expiry of her contract in January 2017.

Karonga tendered in his resignation on May 16 following an altercation with the board, which had led to his suspension on allegations of insubordination.

The seasoned insurance expert confirmed that he had left the Ipec yesterday although he could not be drawn into commenting on the circumstances surrounding his departure.

“I believe there is a press statement that has been prepared. In that regard, I will only be in a position to comment after the dust has settled,” Karonga said.

Efforts to get a comment from the Ipec board chairperson Lynn Mukonoweshuro were fruitless as her phone was not reachable by the time of going to print.

Karonga is said to have clashed with his board on how the insurance industry should be governed and regulated.

He purportedly accused other board members of being ignorant of the sector, lacking depth and failing to appreciate the technical aspects to the industry. DailyNews