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International

Kenya's Pan Africa Insurance purchases 51% stake in Gateway Insurance

March 19, 2015 Reprints

Kenya-based Pan Africa Insurance Holdings Ltd. has purchased a 51% stake in the country's Gateway Insurance Co. Ltd., Daily Nation reports.

"Gateway's established brand in short-term insurance service and a countrywide presence fits well into Pan Africa strategy," said John Simba, chairman of Pan Africa Insurance. Pan Africa's move in the general insurance space comes at a time of low insurance penetration, meaning huge growth opportunities, added Mr. Simba.

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Kenya's Pan Africa Insurance purchases 51% stake in Gateway Insurance

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