Britam Holdings Limited Kenya

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Britam
  • Date of creation: 1965, Nairobi, Kenya.
  • Activities: Life and life insurance, retirement and financial services.
  • Staff members : More than 900 employees.

Britam in 2022

Kuria Muchiru
Tom Gitogo
Kuria Muchiru
Chairman of the Board of Directors
Tom Gitogo
Chief Executive Officer, CEO

Management

Kuria MuchiruChairman of the Board of Directors
Tom GitogoChief Executive Officer (CEO)
Charles KimaniChief Financial Officer (CFO)
Ambrose DabaniCEO of Britam Life Assurance Company
Jackson TheuriCEO of Britam General Insurance Company
Catherine KaritaDirector, Strategy & Investor Relations
Kennedy B. AosaDirector, International Insurance Business

Shareholding as at 31/12/2022

ShareholdersShares
AfricInvest Group17.55%
Equity Holdings Limited16.05%
Swiss Re AG15.79%
Others50.61%

Britam General Insurance Company

Jackson Theuri
Jackson Theuri
CEO of Britam General Insurance Company

Britam General Insurance in 2022

Share capital21 477 000 USD
Turnover87 348 000 USD
Assets108 849 000 USD
Fhareholder’s equity26 285 000 USD
Net result1 765 000 USD
Net non-life loss ratio66.21%
Net non-life management expenses ratio 34.96%
Net non-life combined ratio 101.17%

Main technical highlights

Figures in thousands USD

Highlights20182019202020212022
Gross written premiums78 55680 28175 11186 76387 348
Net written premiums63 38463 05260 85764 48662 912
Net earned premiums 65 40362 59657 17564 11657 898
Net incurred losses39 40742 04036 75443 55638 336
Management expenses32 30431 85126 81928 76621 996
Net non-life loss ratio (1)60.25%67.16%64.28%67.93%66.21%
Net non-life management expenses ratio (2)50.97%50.52%44.07%44.61%34.96%
Net non-life combined ratio (3)111.22%117.68%108.35%112.54%101.17%
Net result-508-1 8133 3092141 765

(1) Net non-life loss ratio = Net non-life incurred losses / Net non-life earned premiums
(2) Net non-life management expenses ratio = Non-life management expenses / Written premiums net of non-life reinsurance
(3) Net non-life combined ratio = Net non-life loss ratio + Net non-life management expenses ratio
Exchange rate as at 31/12/2022: 1 KES = 0.00805 USD ; 31/12/2021: 1 KES = 0.00878 USD ; at 31/12/2020: 1 KES = 0.0091 USD ; at 31/12/2019: 1 KES = 0.00978 USD ; at 31/12/2018: 1 KES = 0.00976 USD.

Turnover breakdown by non-life class of business

Figures in thousands USD

Class of business20182019202020212022Parts 2022
Health19 90917 39416 38521 41425 25528,91%
Motor25 02824 51722 87819 51418 51421,20%
Fire5 7298 0246 8268 70811 52313,19%
Accident (1)9 29110 3628 71215 2099 27410,62%
Marine4 6263 8083 6843 5644 9765,70%
Engineering3 2804 3243 5734 3183 9374,51%
Theft1 9532 1102 1462 2402 2812,61%
Third party liability1 2871 4261 5511 7541 8742,14%
Miscellaneous risks7 4538 3169 35610 0429 71411,12%
Non-life total78 55680 28175 11186 76387 348100%

(1) Including personal accident and workmen's compensation

Britam General Insurance Company turnover

Net earned premiums by non-life class of business

Figures in thousands USD

Class of business201820192020202120222021-2022 evolution
Health 21 69417 70014 57219 77021 71319.79%
Motor (1)23 69123 04521 58220 11822 14820.08%
Fire2 2922 2233 3422 828--
Accident (2)7 1688 3895 7398 103--
Marine1 0808849288781 737115.65%
Engineering338712553943907.96%
Theft1 7532 0341 7471 6161 63110.14%
Third party liability5806688278718010.24%
Miscellaneous risks6 8077 5828 1839 5389 4788.38%
Non-life total65 40362 59657 17564 11657 898-1.51%

(1) Including fire and accident in 2022
(2) Including personal accident and workmen's compensation

Net incurred losses by non-life class of business

Figures in thousands USD

Class of business201820192020202120222021-2022 evolution
Health15 73713 0468 86113 73816 63232.04%
Motor15 74520 18618 86819 41213 834-22.27%
Fire867885839960566-35.67%
Accident (1)1 1322 2182 2892 262730-64.80%
Marine170359408106340250.95%
Engineering298-7647745396-76.87%
Theft1 662947148-21129-758.26%
Third party liability13831425846252122.91%
Miscellaneous risks3 6584 1614 6066 1845 488-3.21%
Non-life total39 40742 04036 75443 55638 336-4%

(1) Including personal accident and workmen's compensation

Net loss ratio by non-life class of business

Class of business20182019202020212022
Health72.54%73.71%60.81%69.49%76.60%
Motor (1)66.46%87.59%87.42%96.49%68.30%
Fire37.84%39.81%25.11%33.94%-
Accident (2)15.79%26.44%39.88%27.92%-
Marine15.72%40.63%44.02%12.04%19.60%
Engineering88.13%-107.02%186.87%114.83%24.60%
Theft94.80%46.53%8.45%-1.32%7.90%
Third party liability23.73%47.10%31.17%53.01%65.00%
Miscellaneous risks53.73%54.87%56.30%64.84%57.90%
Non-life total60.25%67.16%64.28%67.93%66.21%

(1) Including fire and accident in 2022
(2) Including personal accident and workmen's compensation

Britam Life Assurance Company

Jackson Theuri
Ambrose Dabani
CEO of Britam Life Assurance Company

Britam General Insurance in 2022

Share capital3 220 000 USD
Turnover228 497 000 USD
Assets956 835 000 USD
Shareholder’s equity79 659 000 USD
Net result12 666 000 USD

Main technical highlights

Figures in thousands USD

Highlights20182019202020212022
Gross written premiums201 238234 150212 150227 350228 497
Net written premiums199 013231 659209 105218 929222 849
Net result-11 39930 530-26 94119 03112 666

Turnover breakdown by life class of business

Figures in thousands USD

Class of business201820192020202120222022 shares
Pension and retirement79 94192 06189 86790 82899 36943.49%
Individual insurance77 56785 63579 25084 90280 37035.17%
Annuities15 41629 79513 7026 63427 44912.01%
Group insurance10 5865 3826 56713 0059 1524.01%
Credit insurance11 92514 56113 06920 093-3 242-1.42%
Investments5 8036 7169 69511 88815 3996.74%
Life total201 238234 150212 150227 350228 497100%
Britam Life Assurance turnover
Britam

Britam : Contact

Head office
Britam Holdings Limited, P.O. Box 30375-00100, Mara/Ragati Road Junction Upperhill, Nairobi, Kenya.
Phone
(020) 2833000 / +254 703 094 000
Fax
(020) 2717626 / 2714927
E-mail
info [at] britam [dot] com
Website
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Tue, 12/12/2023 - 14:24
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