Britam strategy and investor relations director Catherine Karita. PHOTO | DIANA NGILA | NMG Insurance firm Britam Holdings expects to complete the sale of its 6.7 percent stake in Equity Group to the International Finance Corporation (IFC) this month, raising Sh13.9 billion from the transaction. The deal is expected to see the Nairobi Securities Exchange […]
Tag: XNAI_BRIT
Resurgent Britam posts Sh72m profit
Britam Chairman Kuria Muchiru (left), Director Strategy Catherine Karita and acting MD Charles Njuguna during financial results briefing. Financial services firm, Britam Holdings has bounced back to profitability, with the company reporting a net profit of Sh72.1 million in the year to December 2021. This compares to a loss of Sh9.1 billion in 2020. The […]
Britam posts Sh1billion profit supported by growth in premiums
NAIROBI, Kenya March 30-Britam Holdings has posted a profit of Sh1 billion for the financial year that ended 31 December 2021, a significant improvement compared to a loss of Sh9.7 billion reported in the previous financial year. The improved performance was supported by growth in premiums in the Group’s local and regional insurance businesses and […]
Taxes eat up 93pc of Britam’s Sh1bn profit
Insurance group Britam Holdings #ticker:BRIT paid a higher-than-usual tax rate of 92.8 percent in the year ended December after it made provisions for investment losses of Sh5.2 billion. The provisions cannot be used to lower tax obligations, a move that saw the company pay taxes amounting to Sh939.3 million on the pre-tax earnings of Sh1 […]
Britam targets low income earners as claims hit Sh3 billion
Britam Insurance headquaters in Upper Hill. /FILE Britam Holdings now targets low income earners to increase insurance uptake even as it marks paying Sh3 billion in health and life claims to customers since 2015. The company’s Emerging Consumer Business Director Saurabh Sharma said many Kenyans, especially smallholder farmers and small businesses, could not afford insurance […]
Home Afrika Tops the NSE On Monday As Uchumi Leads The Losing Pack
KEY POINTS Uchumi Supermarket was the top loser after shedding off 9.09 percent at the price of 0.20 shillings per share followed by Sasini and Trans-Century with a loss of 5.61 and 4.31 percent at the price of 20.20 and 1.11 shillings per share. Top Gainers The top gainer of the day at the Nairobi […]
NSSF gets HF board seat on 4pc stake
The National Social Security Fund (NSSF) leveraged its four percent stake in HF Group to get a board seat for its managing trustee Anthony Omerikwa, according to sources familiar with the matter. Dr Omerikwa recently joined the board of the Nairobi Securities Exchange #ticker:NSE -listed firm as a non-executive director. His appointment comes as insurance […]
Equity receives licence to offer life insurance
Equity Group Managing Director and CEO Dr James Mwangi at the Equity Centre in Nairobi on Monday, October 25, 2021. PHOTO | DENNIS ONSONGO | NMG Equity Group has received a licence to operate a life insurance business in Kenya as the company seeks growth and diversification in the financial services industry. The Insurance Regulatory […]
Equity Group receives licence to offer life insurance
Equity Group ( NSE:EQTY , USE:EBL , RSE:EQTY ) has received a licence to operate a life insurance business in Kenya as the company seeks growth and diversification in the financial services industry. The Insurance Regulatory Authority (IRA) issued the licence to Equity Life Assurance (Kenya) Limited (ELAK), a subsidiary of the Nairobi Securities Exchange-listed […]
Britam Kenya Finance Boss to Become Acting Managing Director
Britam Holdings ’s Finance Director Charles Njuguna has been named acting managing director, replacing Tavaziva Madzinga who resigned Friday less than a year into the job to join South African based financial-services group Santam Ltd. Njuguna, who joined the Kenyan-based diversified financial services group last year, will lead the organization during its transition period until […]
