BRITAM ACQUIRES THE REAL INSURANCE GROUP
On August 1, 2014 British American Investments Company(Kenya) Limited otherwise known as Britam Group concluded the transaction to acquire the Real Insurance Group. Effectively, Real Insurance is now a subsidiary of the Britam Group.
Britam is a diversified financial services group with presence in Kenya, Uganda, Rwanda, Mauritius and now Malawi. It has over 46 years of experience in Insurance, Asset Management, Banking and Property Management
The successful completion of this transaction has resulted in the creation of a large Pan African insurance group with a presence in 7 countries namely Kenya, Uganda, Tanzania, Rwanda, South Sudan, Malawi and Mozambique. The Britam group now has the largest geographical presence of any other insurer in the region and it is now well positioned to provide our customers with regional breadth unmatched by our competitors as well as leveraging on the huge growth opportunities in this region.
The acquisition of the Real Insurance Group by Britam will certainly improve the operational capacity of the Malawi Operations through improved efficiency and better customer service. The acquisition would also strengthen the financial, technological and human capital bases thereby promoting innovation and competitiveness
Economically, Malawi stands to benefit significantly from the acquisition through growth of the Gross Domestic Product (GDP) as well as Tax Revenues. In the long run, through diversified investments, Britam would increase its employee base and enhance its participation in Socio Economic Development initiatives