About Pan Africa Insurance
Holdings
Being the first insurance
company to be quoted and having started its underwriting business in 1947, Pan
African Insurance Holdings was founded in 1954 by a family of Asian origin
thereafter changing its name in 1963 to Pan Africa Insurance Company to reflect
the growing partnerships. In the year 2002 the company was restructured into
three entities namely, Pan Africa Insurance Holdings Limited and its two wholly
owned subsidiaries, Pan Africa Life Assurance Limited and Pan Africa General
Insurance Limited. Pan Africa Insurance Holdings Limited was restructured in
2004 after the merger to form two wholly owned subsidiaries. These subsidiaries
are Pan Africa Life Assurance Limited dealing with life business and PA
Securities which owns 100% stake in Mae Properties and a 25% stake in Runda
Water.
The ground breaking
4 October 2014, Nairobi - Management, staff and
business partners of Pan Africa Insurance Holdings today celebrate the ground
breaking of their newest Kes 2.5 Billion, 17 storey office building
in Westlands area of Nairobi.
Pan Africa’s new 0.75 acre address to which they expect to move in the
second half of 2017 will see the business join
the rest of Kenya’s blue chip corporate addresses including Safaricom, Barclays
bank and Standard Chartered Bank The Chairman of the Board Dr John PN Simba after officially breaking
the ground pointed out that the internally funded project is a part of the
group’s long term business strategy. ‘’We have been keen diversifying our
investments and real estate has been one of our ventures in this regard. In addition to our residential housing
project in Runda, we would like to expand to commercial property and this is
the beginning of that line of growth. Being a financial service provider, real
estate acts as a cushion to our investments in money market to keeps the
business revenue afloat. Of the 17
floors, we will utilize 2 of the floors to host our head quarter offices and
all our staff while the other 15 will be leased out so as to generate some
revenue through rent. Our target market will be multinationals as well as UN
agencies.
The acting CEO Mr Stephen Kamanda while taking the guests through
the plan added that the plan has put in consideration some of the latest cost
efficient technologies, including environmental friendly natural cross
ventilation and lighting as well as green landscaping. ‘’The facility will have
a digital Buildings Management System (BMS) which incorporates a state of the
art security system. Further, we will have 3 underground and another 3 off
ground parking floors translating to 350 parking slots which we expect will be
sufficient for all staff and tenants.
The plan has also put in place borehole water supply to substitute the
paid-for supply.’’ He closed
Pan Africa has concentrated in Life Assurance for many years but has
recently launched an Asset Management arm. In a press statement during a recent
launch of a new branch in Kakamega county mentioned it’s keen to expand the
business portfolio in terms of geographical presence as well as business and
product lines which will include short term insurance as well as sell of unit
trusts.
Source:
Loice Shiguri
@LoiceShiguri
Pan
Africa Insurance Holdings – Corporate Communications Office
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