Sompo to enter the Kenyan insurance market

A partnership has been concluded between the Japanese group Sompo Holdings and the Kenyan subsidiary of the South African group Sanlam, reports Capital Business.

This agreement will allow Sompo Holdings to strengthen its position in the insurance and reinsurance sector at a time when many Japanese investments are entering the region.

Sompo will mainly improve its service to the Japanese diaspora in Kenya, commented Daisuke Taoka, Head of the Johannesburg representative office for the Japanese group. Patrick Tumbo, CEO of Sanlam Kenya Group, hopes that the new collaboration will strengthen Sanlam's growth in the country and strengthen its presence in East African markets.

A partnership has already been signed between the two partners in October 2017. The collaboration was intended to support the Japanese group's customers in Africa.

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