CfC Life rebrands to Liberty Assurance
CFC Life managing director Abel Munda (left) and Liberty Africa Insurance chief executive Stuart Wenman during a media briefing on the rebranding of CFC Life to Liberty Life Assurance Kenya at the Intercontinental Hotel in Nairobi on October 28, 2014. PHOTO | SALATON NJAU |
What you need to know:
- CfC Life says it expects to increase its life insurance market share to 15 per cent in the next five years from eight per cent.
- It’s main competitor, it says, are the top three insurance firms Britam, Pan African Insurance and Jubilee.
CfC Life has rebranded to Liberty Life Assurance Kenya.
This follows acquisition of 57 per cent shareholding in CfC Life by South African insurer Liberty Life Holdings.
CfC Life says it expects to increase its life insurance market share to 15 per cent in the next five years from eight per cent.
This will be done through new distribution channels and products.
It’s main competitor, it says, are the top three insurance firms Britam, Pan African Insurance and Jubilee.
Liberty Life Assurance Kenya managing director Abel Munda said the rebranding will help the local office tap into expertise of its South African headquarters.
He said there will be no job cuts.
“The development marks full integration of Liberty Life Kenya into our continental business and institutional support,” Mr Stuart Wenman chief executive of Liberty Africa, South Africa said.
They were both speaking during a media briefing at Intercontinental Hotel in Nairobi on Tuesday.
The local insurer currently has Sh22 billion in assets. It was set up 50 years ago.
