BUSINESS

Old Mutual has rolled out its Alternative Investment vision targeting pension schemes seeking to diversify their investments and gain long-term returns.  This is against the backdrop of an extensive engagement campaign through pension scheme training, and investment conferences showcasing the success stories of Alternative Investment. This is part of the firm’s new commitment to help its clientele unlock possibilities while adding…

Swiss Re Foundation has announced a USD 500,000 grant for Africa’s insurance sector to spur innovation of insurance solutions for the underserved. The funding, to be distributed through the FSD Africa’s supported BimaLab insurance accelerator programme, will unlock and accelerate the transformation of Africa’s insurance sector through innovative offerings for the sector’s unique landscape. Recently, there has been increased attention to Africa’s expanding and promising insurance sector. At the COP27…

Minet Kenya Insurance Brokers Limited was declared and awarded as the overall best intermediary of the year in the 2020 annual intermediaries’ awards by UAP Insurance Kenya Limited. The broker, who met the required parameters of the program was awarded with a brand-new car, VW Polo. The annual awards covered all the key intermediated distribution channels including brokers, independent agents,…

Safaricom has today announced a new partnership with the Nairobi Securities Exchange (NSE)to enable Kenyans to invest in stocks using their accrued bonga points. The service will available to all Safaricom customers, who can redeem their points through licensed Trading Participants, with ten already activated. These include NCBA Capital, Faida Investment Bank, AIB-AXYS, ABC Capital, Old Mutual Securities, Kingdom Securities,…

Emirates, the Premier Partner and Official Airline of Expo 2020 Dubai, has launched an exclusive offer for Kenyan customers to experience the excitement of the World Expo, the largest-of-its-kind event in the region. Emirates customers visiting Dubai, and travelling through Dubai, anytime during the much-awaited mega event running from 1 October 2021 to 31 March 2022, will be eligible to…

I&M Bank Limited and Crown Motors Group Ltd have entered into a Vehicle Asset Financing partnership agreement where the Bank will finance Crown Motors passenger cars and light commercial vehicles. The Nissan product range includes the popular new Y62 Nissan Patrol, Xtrail, Urvans and Pick up ranges and the soon to be introduced New Navara Range, Terra, Qashqai and Magnite.…

Standard Chartered has introduced a new mortgage offering that will see clients access mortgages at 11.9% variable rate offer for new applications submitted and approved during the campaign period. The offer is open to both existing and new clients. Those seeking to transfer their mortgage to SCB to enjoy the new rate of 11.9% will get access to waived valuations…

UAP Old Mutual Group has enhanced its recently launched Afya Imara Junior medical insurance product for children to include Covid-19 testing and treatment. The Afya Imara Junior cover was launched as the first ever comprehensive medical cover exclusively for children. Through the cover, children from birth to 18 years of age can access the medical insurance cover without necessarily having…

Cytonn Investments is venturing into the insurance business. The firm has launched its insurance agency arm, the Cytonn Insurance Agency (CIA) whose key objective it says is to disrupt the insurance industry through innovation and automation of insurance processes including the buying and claims process. The insurance uptake in Kenya remains low compared to other key economies, with the insurance…

A tough operating environment, coupled with a surge in claims due to the COVID-19, saw medical underwriter AAR Insurance Kenya’s overall performance decline by 55 percent to Ksh 234 million last year compared to Ksh517 million in 2019. Profit-before-tax also declined from Ksh 756 million to Ksh 317 million in the same period. Gross written premiums, representing the company’s revenue, declined…

Schools and educational institutions as a whole, have for a long time faced myriads of unique risks that would normally require some kind of specialized insurance protection. From students participating in extra-curricular activities to the ever-present dangers in chemistry and biology labs, there is a lot that educational institutions need to protect. And that is excluding damages caused by student…