Allianz Group, the global insurance company, has set up offices at Allianz Plaza in Nairobi. Kenya becomes the 15 country in Africa where the insurer has established a presence.
Allianz Kenya CEO Demba Sy said the company has fully established its structures in Kenya, and is progressively setting its footprints in the market. “Allianz Kenya is focusing on accelerating organic business growth. Kenya is full of promise”, said Mr Demba.
Allianz was founded in 1890 in Berlin, Germany, as a transport and accident insurer and Allianz Group has grown to a customer base of 85 million and provides a range of services in the areas of property and casualty insurance, life and health insurance as well as asset management and banking.
The launch was attended by key stakeholders in the insurance and financial industry who included Cabinet Secretary for National Treasury Henry Rotich and Insurance Regulatory Authority, acting Commissioner of Insurance Godfrey Kiptum.
The presence of Allianz in Kenya will therefore allow current and potential clients to gain access to the wide variety of product offerings with plans to expand into the expansive regional market. “Kenya is a leading economy within the continent and Allianz’s operations here are aimed at ensuring that Kenya remains a leader on the continent,” Allianz Africa CEO Frederic Baccelli said.
With a population of 45 million and a total market size of currently $1.7 billion, Kenya provides a major growth opportunity in the fast developing market and an opening to the East African community.
Allianz, which has over the past year been setting up offices and familiarising with the Kenyan environment, plans to have custom-made products for Kenya. Their products range will have two key insurance solutions including, personal insurance solutions (home insurance, car insurance and personal accident) and business insurance that include marine cargo insurance, business asset protection, covers for employees, liability insurance and specialty insurance offering a variety of products for potential customers to select from at competitive rates.
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