Liberty Life Assurance Kenya Limited

Last updated

Liberty Life
Type Private
Industry Life insurance, financial services
Founded1964
HeadquartersLiberty House,
Nairobi, Kenya
Key people
Abel Munda
Managing Director
Peter Nderitu Gethi
Chairman
Products Life insurance and pensions
Decrease2.svg KES: 0.4685 billion (2015)
Total assets Increase2.svg KES: 23.50 billion (2015)
Parent Liberty Kenya Holdings
Website www.liberty.co.ke

The Liberty Life Assurance Kenya Limited, commonly referred to as Liberty Life, is a Kenyan life insurance company headquartered in Nairobi, Kenya. It is among the five largest life insurance companies in Kenya. [1] It is a subsidiary of Liberty Kenya Holdings, which is an insurance holding company with headquarters in Nairobi.

Contents

Liberty Life is licensed and regulated by the Insurance Regulatory Authority of Kenya (IRA), the Retirement Benefits Authority of Kenya (RBA) and is a member of the Association of Kenya Insurers (AKI).

History

Liberty Life Assurance Kenya Limited can trace its roots to 1964 when it was founded as Kenya American Insurance Company Limited; the company provided insurance services, investment solutions, education and retirement savings plans. In 1987 the company had a name change to American Life Insurance Company (Kenya) Limited, ALICO. Later, in 2004, ALICO was owned by CFC Bank (now Stanbic Bank) leading to a further metamorphosis of the organization's name into CFC Life Assurance Limited. [2]

The company, through further change during 2008 when Stanbic Bank merged with CFC Bank (to form CFC Stanbic, now Stanbic Bank); [3] which brought CFC Life and Heritage Insurance Company under CFC Stanbic Holdings which was also the financial services conglomerate that encompassed CFC Stanbic Bank and CFC Financial Services after the acquisition that happened that year. Later in July 2010 the CFC Stanbic Holdings Limited shareholders would participate in a vote that lead to the separation and demerger of the company's insurance and banking sections.

In 2011 CFC Insurance Holdings became listed on the Nairobi Securities Exchange, (NSE). CFC Life changed its name fully to Liberty Life Assurance Kenya Limited in October 2014. [4] [5]

Sponsorship

Kajiado Township Primary School Library, a library whose sponsorship was done by Liberty Life in partnership with Heritage Insurance and Oxford Press Kenya. [6] Abel Munda, [7] [8] the Liberty Life managing director, also a KES 800,000 borehole in the school. The facilities were sponsored to benefit not only the school's students but also to benefit the more than 1,400 students from neighboring schools in the Kajiado County, Kenya, and to enable the nurturing of innovation, curiosity and problem solving among the students.

See also

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References

  1. ↑ Liberty Holdings Acquires 51 Percent of East African Underwriters Ltd
  2. ↑ Reporter, Nation (23 September 2004). "Kenya: CFC Buys Alico's Life Insurance Business". The Nation (Nairobi). Retrieved 31 October 2016.
  3. ↑ Michira, Moses. "End of an era as CFC brand paves way for Stanbic". Standard Digital News. Retrieved 31 October 2016.
  4. ↑ "CfC Life rebrands to Liberty Assurance". Daily Nation. Retrieved 31 October 2016.
  5. ↑ Okulo, Lola (23 October 2014). "Kenya: CFC Life to Change Brand Identity to Liberty". The Star (Nairobi). Retrieved 31 October 2016.
  6. ↑ "Liberty Life Assurance, Heritage Insurance Opens New Library". Soko Directory. 4 August 2016. Retrieved 31 October 2016.
  7. ↑ "Enjoy parenting, learn lessons, sit back and savour success" . Retrieved 31 October 2016.
  8. ↑ "Liberty Kenya's life business eyes top-three spot in six years". Reuters. 3 October 2016. Retrieved 31 October 2016.
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