Financial services group Sanlam Kenya has sealed an agreement with Sompo Holdings Inc., one of the largest insurance groups in Japan. The agreement allows Sompo to continue to expand its Japanese influence and investment in Africa and specifically in East Africa where Kenya is attracting substantial Japanese investment interest.
In October 2017, Sompo Holdings Inc. entered into its first partnership agreement with the Sanlam Group through Sompo Japan Nipponkoa Insurance Inc. to provide long-term as well as general insurance support to its corporate clients across Africa.
Sompo Holdings Inc. has an extensive global footprint in 31 countries and regions, including Japan. Its core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. Sompo’s financial strength, broad licensing capabilities, diverse product and distribution networks, and market-leading technology make Sompo a preferred partner for clients around the globe.
Patrick Tumbo, Group CEO of Sanlam Kenya PLC, had this to say, “Our collaboration with Sompo provides us with access to the East African region and affirms Sanlam Kenya’s business strategy to continuously seek growth opportunities and improve our products and services. We look forward to leveraging Sompo’s distribution channels and technical expertise.” He added that Sanlam Kenya remains committed to delivering unique value to its customers, guided by the company’s positioning as a diversified financial services provider with an extensive product offering that caters for all market segments.