(L-R) Sanlam East Africa Head Julius Magabe, Sanlam Group CEO Ian Kirk & Sanlam Kenya Group CEO Mr Mugo Kibati
Financial services firm Pan Africa Insurance Holdings has rebranded to Sanlam Kenya. The company, which is listed on the the Nairobi Securities Exchange (NSE), owns 4 subsidiaries which will also be rebranded. The 4 subsidiaries, i.e. Pan Africa Life, Pan Africa Asset Management, Gateway Insurance and PA Securities will be rebranded to Sanlam Life Insurance, Sanlam Investments, Sanlam General Insurance and Sanlam Securities respectively.
Pan Africa Insurance Holdings was founded in 1946 and was known as the Indo Africa Insurance Company Limited at the time. It was involved in the life insurance business at the time. It was listed on the NSE in the 1963, becoming the first insurance company to do so. It also changed its name to Pan Africa Insurance in the same year. In 2002, Pan Africa Insurance Holdings was formed and the subsidiaries were formed to take care of different aspects of its restructured business. The holding company then in 2014 bought a majority stake in Gateway Insurance in 2014. The company became part of the Sanlam Group in 2005 when African Life Assurance, which owned a majority stake, was acquired by Sanlam.
Sanlam Kenya will be headed by Mugo Kibati, who will serve as the Group CEO. Mugo is formerly the CEO of East African Cables, Director General of the Vision 2030 & is currently the Chairman of the Lake Turkana Wind Power Limited.