Kenya Re leads in franchise value, Sanlam Kenya trails – Cytonn

Jubilee Holdings remains Kenya’s 2nd biggest insurer

 A report by Cytonn Investment puts Kenya Re Insurance in the top as far as franchise value rankings are concerned, while Sanlam Kenya has been ranked last. Dubbed ‘Kenya’s Listed Insurance Companies analysis report’, the report put Jubilee Holdings second, Britam Holdings third and CIC Group fourth. Investment Analyst Caleb Mugendi said Kenya Re’s performance […]

EABL medium term note goes live on Nairobi bourse

EABL medium term note goes live on Nairobi bourse

EABL Group chairman Charles Muchene (centre) rings the bell during the listing of the EABL’s final series of its corporate bond at the NSE on May 8, 2017. Looking on is Group MD Andrew Cowan (left) and NSE chief executive Geoffrey Odundo.  East African Breweries Limited (EABL) #ticker:EABL has today listed the final series of […]

Global Investor ACTIS takes majority stake in Nigerian pension firm Sigma

Lagos — ACTIS, a global pan-emerging markets investor, has acquired a majority stake in Sigma Pensions in a transaction valued at US$62 million. Sigma is a leading pension fund administrator (PFA) in Nigeria. Natalie Kolbe, Partner at Actis, said building on their extensive experience in the asset management and distribution sector, they were excited to […]

Goods go up in smoke in Zimbabwe warehouse blaze

Goods go up in smoke in Zimbabwe warehouse blaze

Fire engulfs the main warehouse at Zimbabwe’s Beitbridge border post on Thursday night. There was chaos at the Beitbridge border post in Zimbabwe on Thursday night when the main warehouse went up in smoke, destroying confiscated goods and goods for which duty was still to be paid. The source of the fire was unknown but […]

One-Re hunts for clients in 38 African states

ONE Re, the first reinsurer approved under Britain’s “twin peaks” system of financial regulation, was seeking clients across 38 African countries in the next year as growth outpaces developed regions. One Re, started by Johannesburg-born brothers Andrew and Robert Lewis in 2012, already has clients signed up in Mozambique, Angola and Lesotho. Chief executive Andrew […]

Dubai-Mauritius Partnership Launching Pan African Insurance Brokerage Service

Chedid Capital, a Dubai-based insurance and reinsurance broker, has entered into a strategic partnership with Mauritius conglomerate GML to provide operational management of brokers in Uganda, Kenya and eight other African countries. The 50-50 joint venture — GML-Chedid and Associates East Africa Ltd with estimated combined 2013 revenues of US$1.2 billion — will initially be […]

Britam Acquires Real Insurance For $15.7m

Britam Acquires Real Insurance For $15.7m

Nairobi Stock Exchange listed financial services group, British-American Investments Company (Britam), has acquired majority shares in insurance giant, Real Insurance Tanzania, Malawi and Mozambique for $15.74 million. “Britam acquired 99 percent of Real Insurance under a deal involving cash and share exchange valued at $15.74 million. Real Insurance will come out stronger from its integration […]

CIC Insurance opens ultra-modern office block

CIC Insurance opens ultra-modern office block in Nairobi

The IT-enabled building, which is the second phase of the Group’s investment in Nairobi’s Upper Hill area, was opened by Deputy President William Ruto on Friday/CFM The IT-enabled building, which is the second phase of the Group’s investment in Nairobi’s Upper Hill area, was opened by Deputy President William Ruto on Friday/CFM NAIROBI, Kenya, Feb […]