Globus, Jubilee tie up to boost pan-African insurance

The appointment of Kenya’s Jubilee Insurance CEO, Patrick Tumbo, as a director of the largely West African-dominated pan-African Globus Network, marks a significant new era of increased East-West African financial partnership. Kenya’s insurance sector has already recorded the highest growth rate in Africa and the second-highest in the world and profits have been excellent. Could this be the end of Africa’s notoriously low insurance penetration rates?

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Published in African Banker, November 2014

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APA simplifies home owner insurance

What’s the first thing you do when you buy a car? Get it insured, right? Sadly, the same cannot be said for those buying houses across the country.

Domestic property insurance continues to suffer from low uptake, and latest statistics suggest that less than 2% of premiums in a sector that raked in Sh100 billion in 2012 may be attributed to home owner insurance. And this despite the fact that real estate is one of the highest watched asset sectors in the country.

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Published in Nairobi Business Monthly, January 2014

Planning for the unexpected with a PVT rider

Ebullient from the peaceful March 4 elections, many Kenyans opted not to renew their Political Violence and Terrorism (PVT) insurance riders, only to be caught out by the September 21 terror attack on the Westgate mall.

Too late they realised that by foregoing the minimal annual surcharge – of approximately Sh2,500 for a car worth Sh1 million – they had opened themselves up to a million shilling loss in car and assets.

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Published in Nairobi Business Monthly, December 2013

Why Takaful shared a Sh16.5m profit with policy holders

When Takaful Insurance Africa (TIA) gave Sh16.5 million back to policyholders who have not filed a claim between April and December 2011, many thought it was a gimmick.

But when in March this year, more than 400 recipients walked away with a share of the surplus funds – ranging from between Sh1,000 to Sh253,000 per policyholder based on the number and value of their policies, the question then became how exactly this was possible?

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Published in Nairobi Business Monthly, December 2013

An intertwined lattice of property and insurance

It wasn’t by design. But when David Kimathi started his property company Daveland Enterprises after 22 years of experience in the insurance industry, he replicated the agency model that he had worked so intimately with while in insurance. And for his business, it was the golden stroke of success.

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Published in Nairobi Business Monthly, June 2013

UAP seeks to milk dairy farmers

A low-cost livestock insurance has been launched to protect small dairy farmers against losses resulting from the deaths of their cows. The initiative, which aims to insure over 500 cows in the pilot stage in 2013 and 3,000 in 2014, targets small-scale farmers working with rural cooperatives.

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Published in Nairobi Business Monthly, March 2013