Equity Group Holdings has announced plans to undertake long term insurance business in Kenya. Furthermore, the company is working on setting up a non-operating holding company to hold its insurance business subsidiaries.
The proposed insurance business is subject to approval by the Central Bank of Kenya (CBK), the Insurance Regulatory Authority (IRA), and shareholders; this includes the structures, commercial and ancillary arrangements.
The announcement has come after Equity Group reported a 14% growth in profit after tax growth to Kshs 22.6 billion for the year ended 31st December 2019. The company continues to diversify its business beyond banking services.
Equity Group already set up the Equity Afia initiative which offers comprehensive outpatient care. Their services include consultation services offered by a medical personnel, a wide range of outpatient procedures and laboratory tests.
See Also:
