Browsing: Britam Holdings

• Britam Holdings says it is changing tact to focus on low-income earners, even as it marks paying KSh 3 billion ($26.3 million) in health and life insurance claims to under-insured customers since 2015
• Emerging Consumer Business Director Saurabh Sharma said many Kenyans could not afford insurance covers currently offered in the Kenyan market
• Sharma noted that low-income earners continued to be the ones affected mainly by risk events, including hospital admissions, loss of a loved one, or business interruptions such as fires and theft

Kenyan insurer Britam Holdings says it is changing tact to focus on low-income earners, even as it marks paying KSh 3 billion ($26.3 million) in health and life insurance claims to under-insured customers since 2015.

The company’s Emerging Consumer Business Director Saurabh Sharma said many Kenyans, especially smallholder farmers and small businesses, could not afford insurance covers currently offered in the Kenyan market.

Sharma noted that …

Regional financial services firm, Britam Holdings PLC has posted a profit after tax of Kshs 376.3 million from a loss after tax of Kshs 1.6 billion posted in the six months ending June 2021.

According to the firm, the improved performance is attributed to growth in premiums from new business and investment income from its broad investment portfolio.

The firm also registered significant growth in investment income following the moving of its investment portfolio to increase yields.

Investment income during the period grew to Kshs 4.9 billion, representing a 35 per cent growth compared to a similar period last year.

The Group also realized growth in revenue from both its local and regional businesses.

The regional businesses contributed 24 per cent of the Group’s gross earned premiums.

The Group’s gross earned premiums and fund management fees were up 5.7 per cent to Kshs 14.9 billion.

Britam’s Group Managing Director, Tavaziva …