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Real buyout helps Britam leapfrog ICEA market stake
Britam managing director Benson Wairegi (right) during the listing of the insurer’s bond on the NSE in August. PHOTO | FILE
Britam’s acquisition of Real Insurance helped the firm to leapfrog ICEA Lion to the position of Kenya’s second-largest insurer, and narrow the market share gap between it and the industry leader Jubilee.
The merged entities Britam and Real controlled a market share of 11.2 per cent as at June, behind Jubilee’s 12.6 per cent, while ICEA Lion came third controlling eight per cent, according to latest data from the Insurance Regulatory Authority (IRA).
