Even with the huge case Britam has against its former exec’s seems nothing is stopping it.
Britam has fully acquired Tanzania’s REAL Insurance and has pulled it into its general insurance division making Britam one of the largest insurance and financial service firms in East Africa.
The financial details of the deal were not disclosed.
Mr Peter Munga will be chairman of both Britam Tanzania and REAL’s Board and says the deal will help the two firms leverage on their technology, cash chest and personnel across Kenya, Uganda, Tanzania, Rwanda, South Sudan, Malawi and Mozambique.
Formerly Royal Insurance, REAL Insurance Tanzania Limited was incorporated in 1998 and is a subsidiary of REAL Insurance Company Limited of Kenya. The group has been in operation in East Africa since 1910 has tremendous experience in international insurance through its global network partnership with Royal & Sun Alliance Insurance Group PLC.