A French insurance firm, Olea Solutions,has purchased a 40 per cent stake in Kenya’s Koolridge Insurance Brokers.
This deal gives Olea a footing in the East African market, currently, they operate via 13 subsidiaries in different countries and partners in another 21 African countries. The partnership has seen a name change by Koolridge Kenya Insurance Brokers to OLEA Kenya Insurance Brokers.
Koolridge Kenya Insurance Brokers was founded back in 2014 as an agency by Herbert Ocholi who is also the CEO. A year later, it became a fully-fledged brokerage firm serving local insurers across various business segments.
Herbert welcomed the partnership and commented that, it was a realization of his dream to open his business to new growth frontier across the African region via a partnership with a global brand.
According to OLEA founder chairman Oliveir Dubois, Kenya was a crucial import- export corridor that serves the Anglophone zone countries. He also added that, Nairobi will serve as a launch pad into other East African markets, notably in Uganda, Rwanda and Tanzania.