Connect with us

Hi, what are you looking for?


CfC Insurance to list on NSE

NAIROBI, Kenya Mar 14 – CfC Insurance Holdings (CIH) is set to list and begin trading its shares at the Nairobi Stock Exchange (NSE) on April 21, 2011.

This follows the de-merger of the insurance arm from CfC Stanbic Holdings (CSH).

In a statement sent to the NSE, CFC Insurance will list by way of introduction 515 million shares at the bourse.

The current CSH shareholders will receive one bonus share of each share held in the offshoot.

"Existing shareholders in CFC Stanbic Holdings, will as a result of the restructuring and demerger become shareholders in CIH, while continuing to hold their shares in CFC Stanbic," the statement said.

The company’s directors have pointed out that the listing was not being done to raise additional capital but instead grow the insurance business further.

CfC Insurance currently has two units under it – CfC Life Assurance and Heritage Insurance, which have also been undergoing re-alignment.

CFC Insurance Holdings is currently owned 53.11 percent by CFC Stanbic Holdings, 24.95 percent by Liberty Holdings Limited (South Africa) and 21.94 percent by African Liaison and Consultants.

This is set to change once CIH is listed.  Liberty Holdings stands to be the majority shareholder in the company with close to 56 percent ownership, the public will have a 20 percent stake and Africa Liaison Consultants, will hold the rest.

Advertisement. Scroll to continue reading.

With this separation under CIH, the splitting of the Long-term (namely Life and Pensions) and Short-term or general insurance product lines will be undertaken to facilitate focused management, technical specialization, enhanced customer service and early compliance with proposed regulatory requirements.

Under the re-alignment, Heritage Insurance will now underwrite all new and renewed Short-term business. 

The longer-term strategy will see the consolidation of the Long-term business under CfC Life Assurance.

Follow the author at


Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...