International insurer makes entry in Kenya with personal insurance solutions as key product

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Global insurance company Allianz has set up in Kenya after fully establishing its structures in the market. Allianz Kenya is focusing on accelerating organic business growth, while seeking to differentiate its service provision from the rest through quality service.

Allianz which has over the past year being setting up their office and familiarizing with the Kenyan environment has plans to have custom-made products to suit the Kenyan market.

Their products range will have two key insurance solutions including, Personal Insurance Solutions (home insurance, car insurance and personal accident) and Business Insurance Solutions that include marine cargo insurance, business asset protection, covers for employees, liability insurance and specialty insurance offering a variety of products for potential customers to select from at competitive rates.

Founded in 1890 in Berlin, Germany as a transport and accident insurer and Allianz Group has grown with a customer base of 85 million and provides a comprehensive range of services in the areas of Property and Casualty Insurance, Life and Health Insurance and Asset Management and Banking across its business operations.

The launch was attended by key stakeholders in the insurance and financial industry. Allianz Insurance is renowned for its solid financial strength, world-class services and a solid pedigree built over more than a century of operations. The presence of Allianz in Kenya will therefore allow current and potential clients to gain access to the wide variety of product offerings with plans to expand into the expansive regional market.

With a population of 45 million and a total market size of currently 1.7 billion U.S. dollars, Kenya provides a major growth opportunity in the fast developing market and an opening to the East African community. This new entity is therefore a milestone in the Allianz Group’s development strategy in Africa.

 

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Melissa Daniels
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