Kenya Orient is to establish a long-term insurance business arm in line with a plan to launch life covers next month. Managing director Muema Muindi said the insurer, which has been operating general insurance business only, Orient Life Assurance Ltd will run the life insurance business.
"We got the approval in principle.... In the next one or two weeks we expect to have our licence," said Muindi. The insurer is seeking to capitalise on its close relations with Family Bank to sell its life insurance products. Family Bank holds a stake in the unlisted insurer. "We can capitalise on their client pool of two million people because with life (insurance), you need a large pool base," Muindi said.