Pan Africa Insurance Holdings Limited (PAIHL) has rebranded to Sanlam Kenya Plc.
PAIHL’s subsidiaries including Pan Africa Life, Pan Africa Asset Management, Gateway Insurance and PA Securities, will also be rebranded to Sanlam Life Insurance, Sanlam Investments, Sanlam General Insurance and Sanlam Securities respectively.
The rebrand seeks to offer Kenyan shareholders, clients and other stakeholders the added comfort and security of doing business with a company that has a strong track record of financial performance and world-class products and services. In addition, Sanlam Kenya and its subsidiaries will have access to technical expertise and experience from various resources within the Sanlam Group which operates across five continents.
“For over 10 years our group strategy has focused on diversifying our business, investing in smaller, bolt-on deals and partnerships with established businesses in emerging markets, among other priorities,” said Sanlam Group CEO Mr Ian Kirk. “We have enjoyed a mutually beneficial partnership with PAIHL and believe we are ready to take it to the next level with the rebranding and renaming of the company and its subsidiaries.”
Sanlam is a leading financial services group established nearly 100 years ago and listed on the Johannesburg Stock Exchange Limited (JSE) in South Africa and the Namibian Stock Exchange (NSX). As at 31 December 2015, Sanlam’s market capitalisation was US$9bn. The Group will announce its half-year results to 30 June 2016 on 8 September 2016.
The Sanlam Group has businesses in 33 countries across Africa and first acquired a stake in PAIHL in 2006, following Sanlam’s acquisition of African Life Assurance Group.
Sanlam Kenya currently features a branch network of 34 client experience centres across Kenya’s major towns. The firm enjoys an estimated market share of 8% in the Kenyan life insurance industry, serving over 99,401 policyholders under individual life and more than 236,507 under group life.
Sanlam Kenya CEO Mugo Kibati assured stakeholders of a seamless transition and improved service. “The rebrand heralds a new dawn for the diversified financial services firm that we are. It makes us a bigger and better company that is firmly positioned to deliver world-class financial services for the local clientele as well as value for our shareholders and other stakeholders,” Kibati said.
He said it will also contribute to stronger performance for the firm and offer Kenyans greater access to a comprehensive and tailored range of financial solutions to meet individual and institutional insurance and investment needs.
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