Regional Firm in Kenyan Deal

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Regional Firm in Kenyan Deal

The Nation (Nairobi)

May 21, 2008

News Article

Sanlam Limited has moved to set its footing in Pan Africa Insurance Holding following appointments of two board members to represent its interests.

The appointment of Mr Norman Kelly as one of its directors and Mr William Dommisse, who was re-elected to the board could be the initial steps to their presence in the Kenyan company.

Pan Africa chairman, John Simba announced the appointment of Mr Kelly during a shareholders annual general meeting at a Nairobi hotel Wednesday.

The shareholders also re-elected Mr Dommisse as well as well as two other directors Mr Baloobhai Patel and Mr Lacey.

During the meeting, Mr Simba noted that the group premium income for the past year went up by 48 per cent to record Sh2 billion compared to Sh1.3 billion in 2006.

Corporate business premium for the company also went up by 124 per cent from Sh380 million to Sh 851 million in the same period.

"The introduction of new products in the market that were well received by the clients contributed positively to the company's good results," said Mr Simba at the meeting.

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