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NCBA Unveils NCBA-IG: A Bold New Era In Insurance
Completes Acquisition of AIG Kenya
NCBA Group PLC (“NCBA”) has officially launched a new brand identity for its insurance business.
After fully acquiring AIG Kenya in July 2024, the company has rebranded the subsidiary as NCBA Insurance Company.
This move strengthens NCBA’s commitment to expanding in the fast-changing financial services sector.
NCBA Unveils NCBA-IG: A Bold New Era In Insurance
A New Identity for a Stronger Future
NCBA Group Managing Director, John Gachora, expressed excitement about the rebrand. He stated, “We are proud to introduce NCBA-IG (NCBA-Insurance Group), the new face of our insurance business. This transformation integrates NCBA Insurance Company into our Group, reinforcing our position as a leading financial services provider in Kenya and Africa.”
He emphasized that NCBA-IG will capitalize on NCBA’s strong reputation. This change will increase competitiveness, enhance brand recognition, and align with the company’s 2025 customer-first mission.
Tapping Into a Growing Market
Kenya’s insurance sector continues to expand. In 2023, the industry reached KES 309 billion and maintains a 10% compound annual growth rate (CAGR). The general insurance market alone was valued at KES 188 billion ($1.3 billion) and is expected to grow by more than 9% annually from 2024 to 2028.
NCBA-IG sees this as a major opportunity. With more Kenyans prioritizing financial security, the company aims to increase insurance penetration by offering innovative, customer-focused solutions.
NCBA Unveils NCBA-IG: A Bold New Era In Insurance
Stronger Capabilities Under NCBA
NCBA Insurance Company’s Managing Director, Stella Njunge, highlighted the benefits of joining NCBA. She stated, “Being part of NCBA allows us to deliver better products and services to a wider customer base. With this new identity, we will simplify insurance, highlight its value, and accelerate growth.”
The company plans to leverage NCBA’s deep local expertise to create insurance products that meet customer needs.
Commitment to Innovation and Inclusion
Notably, the rebrand to NCBA-IG aligns with NCBA’s strategy to diversify its financial services. Moving forward, the company will introduce cutting-edge insurance solutions and enhance financial inclusion across the region.
Lastly, as NCBA-IG builds on its legacy, it remains committed to helping customers protect their future with reliable and innovative insurance options.
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