Holmarcom acquires 51% of the capital of Monarch Insurance

HolmarcomThrough its holding Holmarcom Insurance Activities, the Moroccan group Holmarcom has acquired 51% of the capital of the Kenyan company Monarch Insurance.

From now, the Holmarcom group along with Kamu Group and Maisha Bank, shall be the majority shareholder of Monarch Insurance.

The transaction is yet to be approved by the competent authorities.

Monarch Insurance is a composite insurance company (life and non-life) with twelve subsidiaries across the country. It comprises 130 staff members.

In 2019, the Kenyan company’s turnover was set at 1.336 billion KES (13.07 million USD).

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