Equity Group obtains license to operate life insurance

Date:

Share post:

Equity Group has got an entry into the insurance sector to offer life insurance after being awarded an operation license by the Insurance Regulatory Authority (IRA).

In a list provided by the Nairobi Securities Exchange, the Equity Life Assurance (Kenya) Limited was one of the new registered companies.

According to a statement provided by the IRA CEO Godfrey Kiptum, the entry of Equity Life Assurance will enhance the value and distribution of life insurance in the country which is still driven by the general business class.

The entry which provides for Sh102 billion annually targets long term projects.

“We hope that we shall in the same spirit make insurance understood. We bring to the insurance sector a brand that can be trusted to drive inclusivity in the insurance sector,” said Equity CEO Dr James Mwangi.

In partnership with Britam which sold its 6.7 percent stake to the bank, the company aims at providing affordable insurance to all categories of consumers as they transform lives and provide opportunities for wealth creation.

Equity’s ventures into insurance comes amid economic recovery from the effect of the Covid pandemic.

Austine Ogalo
Austine Ogalohttp://www.lakeregionbulletin.co.ke
Lake Region Bulletin is your one stop multi-media platform for news and stories from the Lake Region counties of Kisumu, Siaya, Homabay ,Migori, Siaya, Kissi,Nyamira, Vihiga, Kakamega, Busia, Bungoma, Trans Nzoia, Nandi, Kericho and Bomet email:ogalo@lakeregionbulletin.co.ke austineogalo02@gmail.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Journalists develop curriculum on Climate Change Reporting

Journalists in Kenya have developed a curriculum to train reporters on how to cover Climate Change issues. The Kenya...

MESHA transforming newsrooms through Mobile Journalism mentorship

Twenty-three more journalists have benefited from Mobile Journalism skilling project by the Media for Environment, Science, Health and...

Media best placed to tame vaccine hesitancy in Kenya, experts say

Misinformation remains one of the main factors contributing to vaccine hesitancy in Kenya. Stakeholders in the health sector say...

LIBOI: Nairobi artist who sings for Lake Victoria

For ages, Lake Victoria, the world’s second-largest fresh water lake has been choking due to aggravated human-related (anthropogenic)...