NAIROBI, Kenya Aug 17 – Listed financial services firm Pan Africa Insurance Holdings Limited (PAIHL) has rebranded to Sanlam Kenya Plc.
PAIHL’s subsidiaries – Pan Africa Life, Pan Africa Asset Management, Gateway Insurance and Pan Africa Securities – will also now be rebranded to Sanlam Life Insurance, Sanlam Investments, Sanlam General Insurance and Sanlam Securities respectively.
Sanlam Kenya Chief Executive, Mugo Kibati assured stakeholders of a seamless transition with a differentiated level of client service excellence.
“The rebrand to Sanlam Kenya 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 the move 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.
Kibati added that the rebrand to Sanlam Kenya was a natural progression for PAIHL.
“It has been our quest to transform this organisation to guarantee excellent client service and products. Going forward, we will continue focusing on accelerated organic business growth, while seeking to secure a market leadership position through quality differentiated service provision.
In addition, Sanlam Kenya and its subsidiaries will have access to technical expertise and years’ of experience from various resources within the Sanlam Group which operates across five continents.
The firm has an estimated market share of 8 percent in the Kenyan life insurance industry, serving over 99,401 policyholders under individual life and more than 236,507 under group life.
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.
The Group operates its businesses in emerging markets through the Sanlam Emerging Markets (SEM) business cluster, which has four regions – East; Southern Africa; West Africa; South East Asia (Malaysia); and Asia (India).
The group also has businesses in the United Kingdom, the USA, Australia and the Philippines.