Financial services group Sanlam Kenya has sealed a strategic agreement with Sompo Holdings, one of the largest insurance groups in Japan.
The agreement will allow Sompo to continue to expand in Africa, and specifically in East Africa where Kenya is attracting substantial Japanese investment interest.
Sanlam Kenya Group CEO Patrick Tumbo says the partnership provides Sanlam with access to the East African region and affirms Sanlam Kenya’s business strategy to continuously seek growth opportunities and improve its products and services.
Head of Sompo Japan Nipponkoa Insurance Johannesburg Representative office Daisuke Taoka said the alliance will allow the Japanese company to position itself as a strong insurance and reinsurance player through its presence in Kenya.
“It will also provide a much better service to our Japanese customers entering the country.”
In October 2017, Sompo Holdings entered into its first partnership agreement with the Sanlam Group through Sompo Japan Nipponkoa Insurance to provide long-term as well as general insurance support to corporate clients across Africa.