British-American Investments Company
| Public KN: | |
| Industry | Insurance, Financial services |
| Founded | 1965 |
| Headquarters | Britam Centre, Upper Hill Nairobi, Kenya |
|
Key people
|
Francis Muthaura Chairman of the Board Benson I. Wairegi Group Managing Director |
| Products | |
| Revenue |
 KES: 20.69 billion (2014)
|
|
KES: 14.74 billion (2014)
|
|
|
KES: 3,73 billion (2014)
|
|
| Total assets |
KES: 46.90 billion (2014)
|
| Total equity |
KES: 16.94 billion (2014)
|
| Website | Homepage |
Britam Holdings Limited, previously known by as British-American Investments Company, is a diversified financial services group and is listed on the Nairobi Securities Exchange. The group offers a wide range of financial products and services in insurance, asset management, property, and banking in the African Great Lakes region.
Britam's headquarters are in Nairobi, Kenya, with subsidiaries in Kenya, Uganda, South Sudan, Rwanda, Tanzania, Malawi, and Mozambique. The flagship company of the group is the British-American Insurance Company (Kenya) Limited, commonly referred to by its brand name Britam Kenya.
According to the Insurance Regulatory Authority report released in September 2014, Britam Kenya was ranked second in market share with 11.2 percent of the market behind Jubilee Insurance Company of Kenya, which controlled 11.9 percent.
The group's operations commenced in Kenya in 1965 with the opening of the first office in Nairobi as a foreign branch of British-American Insurance Company Limited, headquartered in the Bahamas. A local company was incorporated on 14 November 1979 as British-American Insurance Company (Kenya) Limited under the Companies Act as a private limited liability company following a government directive that all branches of foreign owned insurance companies must be incorporated locally. By this time, the Company had established nine branches across Kenya. This local incorporation represented the first step in the localisation of the Company. In 1984, local Kenyan investors acquired 33.33 percent of the shareholding in line with government directives.
In 2004, the group incorporated British-American Asset Managers whose core business was the provision of Investment advisory and Fund management services. The company offers investment funds, structured as Unit trusts and discretionary Portfolio management, to both institutions and private clients. During the same year, the group restructured, creating a non-operating holding company. Also in 2004, Britam acquired a strategic equity stake in the Equity Group Holdings Limited. Britam made its first equity acquisition in Housing Finance Company of Kenya (the largest mortgage finance provider in East Africa) in 2007.
...
Wikipedia