Sanlam Kenya issues a Profit Warning as Pandemic hits its Returns
Sanlam Kenya, formerly Pan Africa Insurance Holdings, whose parent is Sanlam Group( South Africa), has noticed that its net profit for 2020 will drop by more than 25% compared to [...]
Britam Announces Organisational Restructure Targeting Executive Team
Britam Holdings, one of East Africa's largest insurance companies, has announced a new organizational restructure that targets the executive team. According to a public statement released by the insurer, the [...]
Linkham Group Acquires Majority Stake in Resolution Insurance
UK based insurance firm, Linkham Group, has announced plans to acquire a stake in Resolution Insurance after purchasing 100% of the equity holding in the company from private equity impact [...]
ICEA Lion Life appoints George Nyakundi as new CEO
ICEA Lion Life has appointed George Nyakundi as the Company's new Chief Executive to take over from Justus Mutabari Mutiga, who has retired from the e-suite after 27 years with [...]Deloitte Warns of Negative Effects of Covid19 on Insurance Business
Deloitte has warned that COVID-19 will severely impact the profitability of underwriters in the region. While insurers have been able to absorb the underwriting impacts of large loss events, the [...]Britam Holdings Issues Profit Warning for 2020
Britam Holdings has issued a profit warning informing shareholders that earnings for this year will be lower than 2019 earnings. Company secretary Nancy Kiruki says based on a preliminary [...]Kenya Q2 Insurance Premiums Climb 3.2% to KSh121 Billion
Insurance premiums in Kenya increased by 3.2% in the second quarter of this year to KSh 121 billion from KSh 117.28 billion reported in Q2 2019. Gross premiums from Long [...]Kenyan Micro-Insurtech Startup, Turaco, Raises $2 Million in Seed Funding
Kenyan micro-insurtech startup, Turaco, has raised $2 million in seed funding as it seeks to expand further into Sub-Saharan Africa. Investors who took part in the funding include Novastar Ventures, [...]Kenya’s insurance premiums rise 7% to KSh 231.3 Billion
Kenya’s insurance sector's total underwritten premiums increased by 7.03% to KSh 231.3 Billion at the end of 2019. This level compares to KSh 216.11 Billion in the prior year. Association [...]Kenya's Insurance Sector Net Profit Hits KSh 15.1 Billion
The Net Profit of Kenya's insurance industry grew by 108.0% to KSh 15.12 Billion at the end of 2019, boosted by an increase in the sector's investment income. This is [...]Paul Muthaura Named CEO at ICEA LION General Insurance
The Board of ICEA LION General Insurance has named Paul Muthaura (MBS), as the new Chief Executive Officer. He replaces the long-serving Steven Oluoch, who has left the organization upon [...]Jubilee Holdings Partners with Allianz Africa in KSh10.1 Billion Deal
Jubilee Holdings Limited (JHL) has entered into a set of agreements with Allianz Africa Holding GmbH (Allianz) with respect to Jubilee’s subsidiaries engaged in short term general (property and casualty) [...]
