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Helping people reach their ambitions
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PRICE FORBES (PTY) LTD 26 Broadening insurance options for South Africa and beyond
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AON KENYA 36 Gathering global expertise to deliver local solutions
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INDIA INTERNATIONAL
INSURANCE 44 Celebrating 25 years of underwriting success
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THEY TOLD US THEIR STORY
A N D W E TO L D THE WORLD
FOR MORE than two years now, some of the most renowned names in global finance have been telling us their story and, in turn, we have told the world. The companies above represent just a small sample of the businesses to have benefitted from the free exposure we provide across both digital and print platforms, as well as a free, bespoke marketing brochure and an unparalleled forum for attracting new investment and networking opportunities.
W W W. O U T LO O K P U B L I S H I N G . C O M Tel: +44 (0) 1603 959 650 Email: ben.weaver@outlookpublishing.com
W E L C O M E Our Outlook on Global Finance
WWW.OUTLOOKPUBLISHING.COM
Under the Outlook Publishing umbrella F I N A N C E and spanning three of the most developed and innovative regions on the planet; Africa Outlook, Asia Outlook and Europe & Middle East Outlook strives each and every month to bring the very latest news, trends and success stories across the full array of industrial sectors. Finance has long been an instrumental P O R T F O L I O and fascinating topic of discussion as part of these continuously evolving publications, featuring heavily in both our front-of-book section as well as our core company profile showcase. The latter facet is where we pride ourselves especially, leading to the inclusion of some of the world’s most prominent players in the finance domain, as documented in this portfolio. In Africa, Price Forbes (Pty) Ltd, Aon Kenya and Barclays Bank of Kenya have all provided critical insight into the most pressing industry trends engulfing continental finance. The significance of the sector in Asia has similarly been reflected through a plethora of feature profiles, including the success story of India International Insurance, as seen within this assortment. These examples, and this portfolio as a whole, provide just a small sample of the extensive coverage we have provided the finance industry’s leading protagonists over the past two years, and with the Outlook Publishing name fast-spreading throughout the sector’s consciousness via numerous media partnerships and event collaborations, there has never been a better time to join these industry heavyweights in enjoying the same unparalleled levels of exposure. Reaching 165,000 monthly readers in Africa as well as a further 190,000 in Asia and 380,000 in the EME region, finance has been one of the most prominent sectors throughout Outlook Publishing’s growth, so please do take a look at this brochure as proof of what we can offer, so that Matthew Staff we can, in turn, continue to give back Editorial Director, Outlook Publishing to the industry. BARCLAYS BANK OF
KENYA 4 Helping people reach their ambitions
P R O M O T I N G
PRICE FORBES (PTY) LTD 26 Broadening insurance options for South Africa and beyond
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AON KENYA 36 Gathering global expertise to deliver local solutions
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INDIA INTERNATIONAL
INSURANCE 44 Celebrating 25 years of underwriting success
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EDITORIAL Editorial Director: Matthew Staff matthew.staff@outlookpublishing.com Deputy Editor: Emily Jarvis emily.jarvis@outlookpublishing.com
PRODUCTION Production Manager: Daniel George daniel.george@outlookpublishing.com Art Director: Stephen Giles steve.giles@outlookpublishing.com Advert Designer: Mandy Farnell mandy.farnell@outlookpublishing.com Images: Thinkstock by Getty Images
BUSINESS Sales Director: Nick Norris nick.norris@outlookpublishing.com Operations Director: James Mitchell james.mitchell@outlookpublishing.com Sales Managers: Eddie Clinton eddie.clinton@outlookpublishing.com Tom Cullum tom.cullum@outlookpublishing.com Heads of Projects: Arron Rampling arron.rampling@outlookpublishing.com Donovan Smith donovan.smith@outlookpublishing.com Project Manager: Callum Philp callum.philp@outlookpublishing.com
ACCOUNTS Finance Director: Suzanne Welsh suzanne.welsh@outlookpublishing.com Admin Assistant: Sophia Curran sophia.curran@outlookpublishing.com Office Manager: Katie Park katie.park@outlookpublishing.com Web Design: Hamit Saka IT: James Le-May
OUTLOOK PUBLISHING Managing Director: Ben Weaver ben.weaver@outlookpublishing.com Chairman: Mark Weaver CONTACT Outlook Publishing Ltd Woburn House, 84 St Benedicts Street, Norwich, Norfolk, NR2 4AB, United Kingdom Sales: +44 (0) 1603 959 652 Editorial: +44 (0) 1603 959 655 SUBSCRIPTIONS Tel: +44 (0)1603 959 655 Email: matthew.staff@outlookpublishing.com
www.africaoutlookmag.com www.asiaoutlookmag.com www.emeoutlookmag.com Africa Outlook Asia Outlook EME Outlook Africa Outlook Asia Outlook EME Outlook
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KENYA’S
‘Go-To’ Bank Barclays Bank of Kenya is on the verge of celebrating its 100th birthday, commemorating the occasion with a host of new services and digital upgrades to bring prosperity to an ever-growing customer base Writer: Matthew Staff • Project Manager: Callum Philp
s Barclays edges towards its centenary in the Kenyan banking domain, the globally renowned business continues to innovate, expand and upgrade as it retains its concerted focus on enriching as much of the country as possible. As a major global financial services provider, the Barclays name is a household one in the majority of the developed world; spreading its engagement in personal banking, credit cards, corporate and investment banking, and wealth management to more than 50 countries around the globe. With the vision and purpose of helping “people reach their ambitions”, the culmination of 300 years’ expertise and history continues to generate
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largely unrivalled levels of service offering and customer satisfaction as the Company continues to “move, lend, invest and protect” money for customers and clients worldwide. The 140,000-strong global workforce is further testament to the prominence that Barclays has in the industry at large and, for countries like Kenya - which can still be classed in some cases as an emerging market - the benefits that stem from housing such an internationally powerful business is clear for all to see. With 122 branches at present, and 300 supporting ATMs, Barclays Kenya boasts the biggest network in the country among its peers, with much of its expansion occurring in the past eight years; a 50 percent increase taking place since 2007.
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G4S KENYA LIMITED
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4S is the leading global, integrated security company, specialising in the provision of security solutions in over 120 countries and over 620,000 employees. Drawing on more than 100 years of history, we are proud of our distinct culture and strong values that guide how we conduct our business. We work to safeguard the welfare and prosperity of millions of people worldwide – helping to create safer and better environments in which people operate.
“Barclays Bank of Kenya is one of Kenya’s leading financial solutions providers with a history spanning nearly a century in this market,” the Company emphasises. “The Bank’s mission is to help people achieve their ambitions in the right way in order to prosper and the Bank’s ambition is to be the ‘go-to’ bank for all its stakeholder communities.”
Most prestigious bank
With a history spanning 99 years, the Company has outlined its plans for significant expenditure and further expansion to celebrate its 100-year anniversary, but this certainly isn’t a rare occurrence for Barclays Bank of Kenya who has invested heavily in the country for the entirety of its existence in the country. With the aforementioned scale of presence bridging urban and rural communities, the 800,000-strong customer base makes Barclays one of the country’s largest banks; a factor compounded and maintained as a consequence of its vast service portfolio.
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At G4S, we believe that in every security challenge, there is an opportunity to unlock hidden benefits.
Barclays Bank of Kenya is one of Kenya’s leading financial solutions providers with a history spanning nearly a century in this market
We draw on our global resources in logistics, technology, risk consultancy and project management and our experience of managing the world’s largest force of security personnel in diverse regulatory environments across 6 continents. As a result, our customers are able to better protect their critical assets, generate extra revenues, reduce costs and deliver an enhanced service to their customers.
T +254 711 042 333/555/999 E info@ke.g4s.com
www.g4s.co.ke
G4S Kenya Limited is the local subsidiary of G4S Plc. the leading global integrated Security Company, specializing in the provision of security services and solutions to customers. Our mission is to create material, sustainable value for our customers and shareholders by being the supply partner of choice in all of our markets. G4S Kenya has been in operation for 47 years, operating in over 120 locations with over 15,000 employees.
Manned Security Risk Management & Consultancy Event Security Secure Journey Management Asset Tracking Security Systems Secure Data Services Facilities Management Fire & Rescue Services Secure Logistics Cash Management
www.g4s.co.ke | +254 711 042 000 / 999 | +254 (0) 20 698 2000 / 2999
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Covering banking segments across “retail banking, business banking, corporate and investment banking, treasury advisory services and markets, Barclays has furthermore played a pioneering role in the local financial services sector as well as on the socio-economic front”. Compartmentalising the Barclays offering even further and the range of products and services available to all demographic of customer is just as comprehensive as any western market, standardising the reputable Barclays portfolio across the board where possible. Inevitably, regional trends and regulations are adhered to throughout this offering, but the core areas living beneath the aforementioned banking umbrellas are all present. Supporting the staple current and savings accounts is a cast comprising loan options, a mortgage centre, a host of credit card offerings, business banking opportunities, and of course, electronic banking which represents the most rapidly developing of the divisions. Such rapidly developing elements can take place in a matter of months for companies of Barclays’ size and subsequent flexibility, as the Bank explains: “The first half of this year saw the Bank enhance customer experience through the rollout of new products and enriched digital channel functionalities, installation of new intelligent ATMs and reduced service time at the branches through an improved queue management system. “As a result, the Bank has received various awards such as the most prestigious Bank in Kenya, best retail Bank in Kenya and best product in Africa (Zidisha).”
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Enhancing customer experience
The foundations had already been laid for the positive start to 2015 via a 2014 which saw significant increases across all financial KPIs. Key highlights for the year included net operating income increasing to KES 28.3 billion against KES 27.9 billion in 2013; a six percent reduction in operating costs as a result of effective cost management; a six percent increase in loans and advances to customers; and the net nonperforming loans rate standing at 3.5 percent as a consequence of strong risk management.
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REGENT MANAGEMENT LTD
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egent Management Limited, Regent Valuers International (K) Ltd & Regent Estates Limited are members of the Regent Group East Africa and were incorporated in Kenya in 1995. Regent is now a well established full service property consultancy operating at the forefront of the Kenyan property market. The Company has acquired an excellent reputation and the trust of a number of the country’s leading property owners. Regent has offices in Kenya, Uganda and Rwanda, with plans to expand to other capitals in the East African region. As one of the most respected and reputable property firms in the country, we have the resources and capability to value, sale/let and manage all types of properties of whatever size, complexity and location. Ultimately, our goal is to be the real estate solution providers of choice in the East African Region, and plan to achieve this by offering the highest quality of services in real estate consultancy using the most current technology and human resources.
T +254 2 2734900/2724545 E info@regent-mgt.com
www.regent-mgt.com
Your professional Real Estate Solutions Provider
Estate Agency & Real Estate Consultancy • Leasing of commercial and residential property • Development consultancy, feasibility study and property market research studies • Acquisition and disposal of development sites and properties
Property Management
Real Estate Valuation
• Management of Commercial Portfolios (shops, offices & industrial properties)
• Valuation of land, buildings, plant, machinery, equipment, farms and plantations
• Management of residential portfolios (Block of flats, furnished apartments, stand alone units & holiday homes/villas) • Common Area & Facilities Management • Asset management and strategic planning services
• Valuation for company share flotation/ privatization and accounting • Asset Valuation, Counting, Tagging and preparation of Asset Registers
• Project management
Regent Group Head Office Regent House, Upper Hill Road P. O. Box 79487-00200, Nairobi. Tel: +254 2 2734900/2724545 Fax: +254 2 2724540 info@regent-mgt.com
www.regent-mgt.com Regent Estates Limited, Kampala Office Kisozi Complex, Off Nakasero Lane, P. O. Box 79487-00200, Nairobi. Tel: +254 2 2734900/2724545 Fax: +254 2 2724540 info@regent-mgt.com
Regent Group Mombasa Office Social Security House, 5thFloor P. O. Box 43213, Mombasa. Tel: +254 020 2146415 Fax: +254 041 2226884 regentmgt-msa@kenyaweb.com
Regent Group Nakuru Office Tradeworld Building, P. O. Box 3857, Tel: +254 051 2211989 Fax: +254 051 2211898 info.nakuru@regent-mgt.com
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“We have dedicated a significant portion of resources over the past two years towards improving our systems and diversifying our product portfolio in order to provide end-toend financial solutions and enhance our customer experience,” Barclays Bank of Kenya’s Managing Director, Mr Jeremy Awori said following the results’ unveiling. Additionally, customer deposits stood at KES 165 billion, a nine percent year-on-year rise, while a strong capital and liquidity position was also maintained. A 10 percent increase in pre-tax profit was reported, amounting to KES 12.3 billion for the year, once again representing a
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notable increase from KES 11 billion recorded in 2013. Driving such fiscal development for what is evidently already a marketleading Company is no mean feat and emphasises the scale of capital investments and strategic moves that Barclays involves itself in each year to remain fresh, modern and attractive as a banking proposition in Kenya. For 2014, this notion also incorporated a host of new products and services to support the future growth of not just the Company itself, but of its customers and partners as well. “We have introduced new revenue generating streams such as bancassurance, SME, fixed income
METROPOL
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etropol Corporation Limited started its business in Kenya in 1996 as a correspondent of Dun & Bradstreet International (D&B) for the East African market covering Kenya, Uganda, Tanzania, Rwanda and Burundi. Today Metropol is licensed in Kenya and Uganda as a Credit Reference Bureau (regulated by the Central Bank of Kenya and Bank of Uganda). Metropol is also licensed in Kenya and Rwanda as a Credit Rating Agency and is regulated by the Capital Markets Authority in Kenya and Rwanda. The company’s capabilities in ratings, credit reporting and analytics continue to deepen through continues research and customer linkages that provide comprehensive data bases that facilitate various analyses. The company now provides Credit Bureau services to Banks, Micro Finance Banks, MFIs, SACCOs and trade credit providers. In the credit rating area, the company provides comprehensive industry research and analysis, SME ratings and corporate ratings in collaboration with GCR. Other services include Business Information Reports; debt management, training, outsourcing, credit audits, feasibility studies, review, and preparation of project and funding proposals. Metropol has established global partnerships in the area of ratings with Global Credit Rating (GCR) of South Africa. GCR provides Corporate ratings in Africa and other emerging markets; Global Credit Solutions in the area of debt management with over 120 partners in over 100 countries; and Metropol is a member of the Asiagate Group comprising of 18 APAC countries for the exchange of Business Information Reports. Other partnerships include Credit Insurers like Ducriour Del Credere in Belgium, African Trade Insurance. These global partnerships enable Metropol to provide comprehensive and customised solutions to its customers across East Africa. As a result, the company now lies on the crest of a unique opportunity to extend its innovative products and services in the credit and capital markets. The Metropol Group’s strategic positioning and depth of capabilities are designed to achieve high profitability and market leadership in Kenya and the rest of the Eastern African region. The Group plans to attain significant market share as it expands its operations into the rest of the African continent.
T + 254 20 268 9881 Barclays Kenya has revamped mortgage products and asset-based financing to attract customers
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www.metropol.co.ke
Metropol was established in Kenya in 1996 as a business Information and credit management company. In 2006 Metropol partnered with GCR to provide credit rating services that enable corporates to raise capital and meet their financing needs. Metropol is also licensed by the Central Bank of Kenya to provide Credit Reference Bureau (CRB) Services to ALL banks in Kenya. Our CRB services leverage full-file credit information sharing and alternative data sources from MFIs, SACCOs, HELB, Utilities, Mobile phone companies and providers of goods and services on credit to help customers improve their access to finance and increase the credit providers’ capacity to lend profitably to more customers.
AN ASSET TO YOUR BUSINESS
Metropol Corporation 13th Floor, Hazina Towers, Monrovia Street, Nairobi Tel.: +254 202250696
Metropol CRB Head Office 1st Floor, Wing A, Shelter Afrique Centre, Upper Hill, Longonot Road, Nairobi Tel.: +254 202689881, +254 727413733 , +254 732774666
www.metropol.co.ke
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trading, investment banking and stock brokerage; and revamped existing businesses such as our mortgage offering and asset-based financing to support future growth,” Awori added. “We have managed to keep our cost income ratio stable year-on-year, despite the significant investments which we have made to set up new businesses, rollout new systems, enhance existing technology and acquire key talent.”
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Commitment to growth
Moving into 2015 and the Bank has picked up where it left off, making significant investments into a number of new revenue streams in order to build upon the success of recent years and to further capitalise on a population eager to embrace the very latest digital solutions. The aforementioned mortgage centre and bancassurance has been complemented in the first half of the
We have managed to keep our cost income ratio stable year-on-year, despite the significant investments which we have made to set up new businesses, rollout new systems, enhance existing technology and acquire key talent
LIQUID TELECOM
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iquid Telecom Kenya connects 10 flagship Barclays banking halls to free Wi-Fi
Barclays Bank of Kenya customers will be the first in the country to be able to access free Wi-Fi in their banking halls, thanks to a new installation by Liquid Telecom Kenya. The Sh7.6m project has seen Wi-Fi installed into banking halls at 10 of Barclays Bank of Kenya’s flagship branches in Nairobi, and its head office. The free Wi-Fi offers speeds of 2Mbps and is part of Barclays’ investment in value added services for its customers. The bank is also keen to increase customers’ exposure to its online banking options. “We are setting up Wi-Fi at the branches to enable our customers to discover what services they can access online so that they can then carry out their banking wherever they are,” said Barclays Bank of Kenya. Among the Barclays branches being connected in the first phase of connections are Moi Avenue, Queensway, Hurlingham, Westlands, Sarit Centre, Village Market, Yaya Centre, Barclays Plaza and Muthaiga, all within Nairobi and set in the city’s most vibrant commercial districts. “With the Wi-Fi project, we’re helping Barclays differentiate the customer experience by being the first bank in the country to offer free access to the Internet via a free connection in its halls, something they view as really important for their customers,” said Ben Roberts, CEO at Liquid Telecom Kenya.
T +07891 3557895 E info@liquidtelecom.com
www.liquidtelecom.com Nairobi, Kenya
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Connectivity without borders Africa’s super-fast fibre network
Liquid Telecom run Africa’s most advanced fibre optic network spanning borders throughout eastern, central and southern Africa. We’ve built where no fixed network existed and now connect people and businesses with super-fast fibre, into Africa and across the world.
Building Africa’s digital future www.liquidtelecom.com
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SYBRIN
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t Sybrin we take pride in our ability to supply innovative, market-leading solutions. Everything we deliver is based on our specialist, first-hand knowledge of the global payments, information, and document management industries. Sybrin focuses exclusively on developing, implementing, and supporting end-to-end systems providing the optimum delivery of business solutions to our customers. We market and deploy our solutions through our own sales force, as well as via our growing Business Partner Network. Our service offering includes system design and architecture, implementation and integration, as well as specialised custom software development.
www.sybrin.com Barclays mortgage centre is yielding positive results
year with a new Asset Finance Centre of Excellence, as well as an enhanced push into agribusiness as a new revenue stream in order to boost its overall balance sheet growth. “The launch of the Barclays mortgage centre in the first half of 2015 is already yielding positive results for the Bank,” stated Awori during the Company’s latest quarterly report. “As of June, the value of mortgage applications recorded was almost double what the Bank recorded during the whole of 2014. “On its part, Bancassurance, although still in its nascence, is showing great promise and we expect that it will be a major contributor of our non-funded income line within the next two-three years.” “The Bank is also rolling out a robust SME strategy to enable it to play a bigger role in the development of this important sector of the economy,” the report continued. “As a demonstration of its commitment to support the
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HAVELOCK NDUATI & COMPANY ADVOCATES
H The launch of the Barclays mortgage centre in the first half of 2015 is already yielding positive results for the Bank
avelock Nduati & Company Advocates is a full service law firm providing a broad range of legal services to both commercial and private clients across Africa and the rest of the world. We provide businesses with legal guidance that works in a commercial environment and give clients legal advice which is appropriate to their circumstances, developing strong relationships to ensure that we understand their requirements and focus on providing pragmatic and plainspeaking advice. The firm has also have developed a broad network of partner legal firms and advisors in across East Africa, allowing us to provide one stop services across the continent.
www.hnc.co.ke
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Banking for the Future
Looking ahead to make a difference
Corporate, Commercial and Intellectual Property Law Trusts Property and Estate Planning Civil Litigation Client Support and Value Added Services
www.hnc.co.ke +254 20 3860637; 3860642
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growth of this sector, the Bank has set aside a KES 30 billion kitty to lend to local enterprises.” A KES 30 billion sum is significant even for a financial entity the size of Barclays, but it emphasises one of the primary facets of the Company’s philosophy; to enrich the lives of people the length and breadth of Kenya. Complementing its new apps, new service offerings and enterprise support, the Company’s ongoing corporate social responsibility efforts sets the business apart from its market counterparts, involving itself extensively in school and educational programmes as well as in the health sector and all-important rural and farming community. The Company continued: “Barclays is set to announce a partnership with the Ministry of Devolution and Planning to provide LPO financing to women, youth and persons living with disability.
THE SARIT CENTRE
Barclays is set to announce a partnership with the Ministry of Devolution and Planning to provide LPO financing to women, youth and persons living with disability
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hree decades on, The Sarit Centre continues to justify its slogan City within a City. The first-ever enclosed shopping centre in East Africa, it opened in 1983 with just two shops. However an expanding and diversified tenant mix quickly made it a favourite venue with Nairobi’s communities, one Christmas Eve registering over 50,000 visitors! Increasing demand resulted in a second phase opened in 1997. This doubled retail area and today it has a steady daily footfall of 25,000. Over the years it set many other firsts including the ever-popular Christmas prize promotions, a strong shopper loyalty programme, paid parking and trade and consumer exhibition initiatives. The trend continues. Demand for additional retail space from local and international retailers has made further expansion imperative. To meet this demand The Centre will commence construction of its Phase 3 in early 2016 – which is part of a much larger master plan. This phase will once again more than double the size of the existing mall and includes provision for a 40,000 square feet state-of-art international exhibition centre and a roof-top food court which will be the envy of many. An additional 900 parking slots will be provided for its shoppers and tenants. The shopping centre “bible” reiterates location as what defines mediocre from the rest and in this respect The Sarit Centre location is unbeatable. Going forward and despite competition it will surely remain the preferred shopping, entertainment and exhibition venue within the City. T 3748662, 3747408/9, 3740329 E info@saritcentre.com
Barclays supports loacal educational programmes
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“The Bank has also set up an agribusiness unit to tap into the significant potential in this space.”
Personnel development
The Bank has set aside a KES 30 billion kitty to lend to local enterprises
To facilitate such widespread external prominence, as with any large enterprise, the work that goes on behind the scenes to make internal procedures as efficient as possible is of paramount importance. This is no different for Barclays Bank of Kenya who incorporates its own employees’ satisfaction into its wider dedication to the nation’s population. With more than 3,000 employees distributed across the entire branch network, the importance of standardising hiring, training and retention methods is vital, in order for customers to receive the exact same, high quality service in one corner of Kenya to one in the opposite corner of the country. To achieve this challenging feat,
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Barclays adopts both internal and external methods, subsequently bridging the gap between local regulations and considerations, and international standards of service provision. Internally, staff are promoted from within, often from graduate age, engaging them with the Barclays brand and engraining a loyalty amongst its workforce from day one. Training doesn’t just stop there either, as each member of staff is required
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to move as quickly with the industry trends as their employers are. The continuous introduction of new products, services and technologies further demonstrates the necessity for such continuous personnel development, and this is similarly complemented by its external training schemes. Leveraging the wider Barclays Group is something that each national arm of the organisation is encouraged to partake in, and the Kenyan division
The continuous introduction of new products, services and technologies further demonstrates the necessity for such continuous personnel development, and this is similarly complemented by its external training schemes
IKM ADVOCATES
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KM is one of the leading and fastest growing full service corporate and commercial law firms in Kenya. IKM is a member of the DLA Piper Group, an alliance of global legal practices, and also a member of DLA Piper Africa. This allows IKM as a firm to offer seamless services across Africa in particular and tap into international expertise. IKM consistently achieves the highest rankings in leading directories such as Chambers Global, International Financial Law Review (IFLR1000), Legal 500 and World Trademark Review (WTR).
T +254 2773 000 E info@ikm.co.ke
www.ikm.co.ke
Internally, staff are promoted from within, often from graduate age
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IKM is one of the leading and fasted growing full service corporate/commercial law firms in Kenya. We have an extensive global reach through our alliance with the DLA Piper Group and strong local market knowledge which helps to deliver legal services to a broad range of clients including banking and financial institutions, project sponsors, multinational corporations, governments, parastatals and private clients. Key Practice Areas Legislative drafting Bank Securities and Finance Dispute Resolution Capital Markets Private Equity Commercial and Corporate Law Public Procurement and PPPs Competition and Monopolies Law Tax Conveyancing/Real Estate Mergers & Acquisitions Employment & Immigration Projects & Infrastructure Intellectual Property Trusts & Estates IKM has been recognized as a leading corporate and commercial law firm in Kenya by Chambers Global, IFLR 1000, Legal500 and World Trade Mark Review.
Tel: +254 20 2773000 Fax: +254 20 2773111 E-mail: info@ikm.co.ke www.ikm.co.ke
Iseme Kamau & Maema Advocates is a member of the DLA Piper Group, an alliance of leading independent law firms working together in association with DLA Piper, both internationally and across Africa.
Waruhiu K’Owade & Ng’ang’a Advocates was established in 1965 and registered as a Partnership under the Laws of Kenya. It carried on business under the business name of Waruhiu & Muite Advocates until 1998 when it changed to its current name Waruhiu K’Owade & Ng’ang’a Advocates. The Firm carries on business of general legal practitioners in the following areas;
- Banking Law - Company Law - Constitutional Law - Conveyancing and Property Law - Enviromental Law - Commercial Law - Criminal Law - Insurance Law - Probate & Administration - Family Law - Intellectual Property Law - Legal Audits and Evaluations - Energy and Gas - Employment and Labour relations - Election Petitions - Acquisitions and Mergers
Steadfast.
Taj Tower, 4th Floor, Wing B Upperhill Road P.O Box 47122-00100 Nairobi
It’s been 38 years, since we started our firm. Through our journey, we have stood by our clients, fought and always been true. We care enough to go beyond onetime engagements and provide value, well after the ink is dry. Always there for you.
T: +254 20 2061145 +254 20 3592033 +254 734 416332 +254 722 200663 E: info@wkn.co.ke
www.wknadvocates.com
www.oraro.co.ke
ADVISORY / COMMERCIAL / DISPUTE RESOLUTION
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is no different as it sends employees overseas or to other offices on the African continent to garner extra skill-sets ahead of internal service unveilings, or to participate in specific training on new technologies set to enter the Kenyan business.
Looking ahead
Inevitably and ultimately judged on tangible results, the Bank’s success can be judged upon the influence perceived within Kenya, but is more typically assessed through its yearly fiscal results, which make for equally impressive reading. In relation to the three month quarter leading into 31 March, 2015, Barclays Bank of Kenya announced a pre-tax profit of KES 3.1 billion, representing a 10 percent growth compared to the same period in 2014.
In relation to the three month quarter leading into 31 March, 2015, Barclays Bank of Kenya announced a pre-tax profit of KES 3.1 billion, representing a 10 percent growth compared to the same period in 2014
Barclays Kenya sends employees to other African offices to garner extra skill-sets
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Congratulations to Barclays Kenya for their 100 Year Anniversary!!
OUR SERVICES • VALUATION • PROPERTY MANAGEMENT • ESTATE AGENCY SERVICES • URBAN PLANNING AND FEASIBILITY STUDIES
Valuers, Estate & Managing Agent Land Development Consultants Get in touch: info@gimcoltd.com | www.gimcoltd.com
Head Office
NYERI Mbaki House, 3rd Floor NAIROBI P.O. Box 1044 Kiambere Road; Telefax: 0612034403 Upper Hill Area P.O. Box 61551-00200 Tel: (20) 2719800
NAKURU Vickers House, 1st Floor P.O. Box 1994 Tel: 0512217436
Get in touch! Ramco Court Off Mombasa Road C35 P.O. Box 13281 - 00200 Nairobi Wireless: 020 6000200 Mobile: 0733-754 850 / 0727-800 842 Email: admin@strami.co.ke www.strami.co.ke
MOMBASA 3rd Floor, Rex House P.O. Box 83671 Tel: 041-227479/ 311890
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We are proud to be associated with Baclays Kenya
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Looking forward and Barclays Kenya has every reason to be optimistic about future growth
While the Bank has attributed the positive result largely to a 13 percent growth in interest income, the report released at the end of March alluded to a number of factors that have combined to elevate Barclays’ status even further this year. The report revealed: “Key highlights for the three month period were: total assets rose by 15 percent to KES 231 billion; net customer assets increased by seven percent to KES 125 billion; there was eight percent growth in customer deposits to KES 156 billion and capital adequacy ratio remained rock solid at 18 percent against a regulatory limit of 14.5 percent.” Fast-forward to the end of June, and half-year results painted an even rosier
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Barclays Kenya moves into the second half of 2015 with a continued commitment to strengthen partnership with the Government and entrepreneur ecosystem, strategic customer focus and enhancement of digital channels
picture for Barclays, with reported increases amounting to eight percent in post-tax profit for the entire six month period at the beginning of 2015. The Company added: “Net profit rose from KES 4.2 billion in June, 2014 to KES 4.6 billion on the back of increased earnings from non-interest income lines. Non-Interest income grew by 12 percent to KES 4.8 billion from KES 4.3 billion, supported by new revenue streams such as bancassurance. “Total assets grew by 10 percent to KES 235 billion compared to KES 213 billion in the corresponding period in the previous year, while impairments remain well controlled amounting to KES 586 million; 0.9 percent of the average gross advances and underscoring the quality of the asset book.” Looking forward and Barclays Kenya has every reason to be optimistic about even more concerted future growth, as its new initiatives become increasingly engrained into the Kenyan
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finance domain. Awori remains positive and thankful to his team for their ongoing efforts in continuing to make Barclays an everdeveloping Bank despite its 100 years of longevity, and has similarly laid out his plans for the remainder of the year. “Barclays Kenya moves into the second half of 2015 with a continued commitment to strengthen partnership with the Government and entrepreneur ecosystem, strategic customer focus and enhancement of digital channels. “Looking ahead to 2015, Barclays Bank of Kenya is focused on accelerating its financial momentum in strategic growth segments, most notably in SME and investment banking. “The bank will also increase its focus on non-funded revenue streams to bolster growth. The launch of the mortgage and asset finance centres of excellence is also expected to enhance our customer experience as we build Kenya’s “Go To” bank.”
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Through successful talent selection and working with like-minded organisations, globally recognised insurance Group, Price Forbes is successfully demonstrating its capabilities in a new market Writer: Emily Jarvis • Project Manager: Callum Philp
ince its establishment in 2012, Price Forbes Group Limited’s South Africa division, Price Forbes (Pty)Ltd, has witnessed exponential growth in a mere three years, in part due to its extreme client focus, Greenfield business and Group backing. The origins of the Price Forbes name can be traced back to 1893. The business today is the result of a 2004 merger of two highly professional brokers, Prentis Donegan and Price Forbes. 2006 saw the formation of Price Forbes & Partners Limited, a truly independent London and Bermudabased global, specialist broker that is 100 percent owned by management and its employees. “The establishment of Price Forbes (Pty)Ltd in South Africa in 2012 was a significant step towards achieving the goal of being a global insurance specialist,” says Warren Bolttler, CEO of Price Forbes (Pty) Ltd. “Even with
the well established brand name, we are still the new kids on the block in Africa. Therefore, we need to quickly demonstrate our capabilities to a new market. “As our customer base grows in this area, we can offer more competitive rates than ever before. Additionally, backed by the Price Forbes brand that has existed for almost a century as a global household name from its base in London, UK, we have been able to leverage the Group’s reputation to fulfil our South African operating model; known for its direct partner relationships and unique value propositions that offer something completely different,” adds Bolttler, who was keen to emphasise that growth in South Africa was organic and based on a local retail model. The Group’s South Africa operations serve to broaden the offering available to insurance and reinsurance buyers of domestic corporate and commercial insurance; providing enhanced
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access to international markets and introducing specialist skills and greater competition into the country’s insurance market. “Following significant consolidation in the South African broking market, our books predominantly cover domestic risk and large domicile corporates in South Africa and the neighbouring countries. We heavily utilise our extensive knowledge of the domestic market to provide our insurance products. “At present, the market is currently soft, therefore it presents a lot of opportunities for insurance buyers; where products are quickly commoditised and innovations are quickly replicated and moulded to suit the ever-changing regulations. This is a sign of a healthy and financially sound market, where there is capacity, competition and choice,” details Bolttler.
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At present, the market is currently soft, therefore it presents a lot of opportunities for insurance buyers; where products are quickly commoditised and innovations are quickly replicated and moulded to suit the ever-changing regulations
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irabilis is the largest engineering underwriter in Africa. Our team includes qualified engineers with practical experience, in-depth expertise and understanding of engineering risks and insurance requirements. Our territorial scope includes continental Africa, the Middle East, Central and South East Asia and the Indian Sub-Continent. We can transact directly in various foreign currencies Accompanied by Santam Limited and our international panel of reinsurers, Mirabilis offers solid security for engineering risks and substantial capacity in our acceptances. We underwrite and facultative reinsure the full spectrum of engineering risks. T +27 (11) 880 8200
www.mirabilisafrica.com
CAMARGUE UNDERWRITING
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amargue Underwriting Managers is a specialist underwriting insurance firm with approved coverholder status at Lloyd’s of London, writing its business in both Southern Africa and certain SubSaharan countries on behalf of Lloyds of London and Mutual and Federal on a 50/50 co-insurance basis. Providing risk management solutions and specialised insurance products to a broad spectrum of industries in SA, Camargue’s product lines have received industry honours and support. Its M³ principle – to Manage, Mitigate and Migrate critical business risks through its over 400 legal professionals, risk managers, arbitrators and risk analysts – uniquely positions Camargue to assist clients with all related business needs. T +27 (0)11 778 9140 / 41 - 47 E camargue@camargueum.co.za
Warren Bolttler, CEO of Price Forbes (Pty) Ltd
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www.camargueum.co.za
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INSURING ENGINEERING AFRICA’S LEADING ENGINEERING INSURER
MIRABILIS OFFERS A COMPREHENSIVE RANGE OF ENGINEERING INSURANCE PRODUCTS: In addition to our standard products, we also provide seamless tailor made “Cradle to Operational” covers, designed specifically for financed engineering projects where a single insurer (Santam) covers all project risks from Marine to Operational including Marine, Marine ALOP, Contractors’ All Risks, ALOP, Contractors’ Third Party Liability, Project Professional Indemnity, Assets/Operational All Risks and Operational BI. OUR TERRITORIAL SCOPE INCLUDES CONTINENTAL AFRICA, THE MIDDLE EAST, CENTRAL AND SOUTH EAST ASIA AND THE INDIAN SUB-CONTINENT. Johannesburg I Durban I Cape Town Tel: 0861 100 100 / +27 11 880 8200 www.mirabilisafrica.com info@mirabilisafrica.com Underwritten by Santam. Santam is an authorised Financial Services Provider (3416)
AN AUTHORISED FINANCIAL SERVICES PROVIDER (28190)
Beyond Insurance Camargue is more than a policy. Camargue is more than a product. Camargue is a concept. The Camargue concept is driven by an inherent desire to continue challenging what is possible in the world of specialised liability management. Bringing risk management solutions and risk management services to an ever-increasing range of clients - with ever-increasing impact on business, society and beyond. The Camargue concept acknowledges people as the proponents of knowledge, making successful and sustainable business a reality. A concept dedicated to seeing the power of knowledge change the world. One business. One challenge. One victory at a time.
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In 2013, the entire African insurance market only accounted for 1.56 percent of the global premiums, standing at $72.4 billion, compared to the world total of $4.6 trillion. South African premiums however, accounted for $54 billion of this total and penetration levels were ranked second in the world at 15.4 percent, reflecting a saturated market and the potential for growth in key areas such as property insurance, mining, construction and manufacturing. “These are the four significant insurance classes on our books and success in these areas has allowed us to grow our business at a healthy rate,” explains Bolttler. Through a tailored insurance offering for each corporate entity seeking insurance, Price Forbes (Pty) Ltd is able to take advantage of high growth markets for sustainable revenue growth to secure a long-term future in South Africa. “A new high growth market for us is technology,
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where we have recently won some large global firms and will continue to seize the opportunity to build this book going forward. Not only this, but we must differentiate our product and service offering in a meaningful way to attract more retail customers,” adds Bolttler. He says that the growth of Price Forbes (Pty) Ltd is not just constrained to South Africa, and this is a result of significant infrastructure development that characterises the African landscape. “We find that the dominant classes of business are construction, engineering, marine & transportation and energy. In light of the significant offshore energy resources in East Africa for example, we have strategically positioned ourselves to be able to handle insurance in this area by providing a facility to service the local East African markets. Not only this, but we have made significant steps in our oil & gas specialisations for the South African market.”
ACE INSURANCE
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CE Insurance Limited South Africa is part of the ACE Group of Companies, and has been trading in the South African market since July 2006. Although ACE South Africa are licensed in and have traditionally primarily operated in South Africa, we are now actively developing and growing our facultative reinsurance business in SubSouthern and East African territories. We focus on the following specialist underwriting areas: • Property, Energy & Technical Lines • Financial Lines • Accident and Health • Casualty • Surety T +27 (0) 11 722 5700 E milenko.skoro@acegroup.om
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CONSORT TECHNICAL UNDERWRITERS
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ounded in 1999, Consort Technical Underwriting Managers (Pty)Ltd has over 200 years of collective Engineering Insurance experience and has become a well-respected source for brokers both locally and internationally when seeking sound, quality underwriting for this highly specialised class of insurance. Thanks to Consort’s reputation within the Engineering Insurance market, our Treaties have been backed by the likes of some of the world’s largest Reinsurance Companies both locally and internationally. Through strong relationships with our brokers, we seek to offer structured solutions for our mutual clients that meet their specific insurance requirements.
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As one of Southern Africa’s leading Construction and Engineering Underwriting Managers, we offer cover for the following classes of insurance: • Contractors All Risks (CAR) • Erection All Risks (EAR) • Plant All Risks (PAR) • Public Liability (PL) Insurance • Electronic Equipment (EEI) • Machinery Breakdown (MB) • Business Interruption (BI) • Deterioration of Stock (DOS)
TRUSTED ENGINEERING INSURANCE
For more information contact us Johannesburg; Unit 29, Consort House, Waterford Office Park, Fourways, 2055, Tel: +27 11 658 1156 Cape Town; Shop A1, Office 4, Westlake Square, 1 Westlake Drive, Tokai, 7945, Tel: +27 21 030 0054 United Kingdom; 1 The Hornets, Horsham, West Sussex, RH13 5RE, Tel: +44 7467 492586 Consort Technical Underwriting Managers (Pty) Ltd (Reg. No.: 1999/003909/07) is an Authorised Financial Services Provider (FSP No. 2273), and underwrites on behalf of Lombard Insurance Company Limited.
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uilt up from humble beginnings we have grown into a world-class industry leading technologyinspired software company within the insurance sector. Genasys Technologies is a tight knit company, with employees who thrive on their passion for their profession. Our employees take everything that one step further: they don’t sit on the sidelines and watch on, they get in there and push through any problem that might arise. We do whatever it may take to make things better for our clients. We remain committed to our everevolving product and becoming the leading provider in insurance software. T + 27 (0) 11 679 3151/61 + 27 (0) 21 851 4153
www.genasys.co.za Price Forbes has been able to secure a strong team for its offices in Johannesburg
Organic growth
The high level of innovation and organic growth in the South African market has helped Price Forbes (Pty) Ltd to identify its capabilities and potential in a short space of time. By investing in people and a bespoke IT system, the insurer has been able to secure a strong team of service professionals for its offices in Johannesburg. “We are looking to invest in the best people who will bring the business and knowledge with them to aid us in targeting particular client groups this year,” says Bolttler. “By ruthlessly sticking to the execution of our plans, the next 12 months will be about putting into action our strategies.” Already equipped with a robust book of business in the South African market, Price Forbes (Pty) Ltd will aggressively target growth in the rest of Africa by working with independent brokers and securing partnership agreements
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We are looking to invest in the best people who will bring the business and knowledge with them to aid us in targeting particular client groups this year
that can help local businesses prosper. “Our intention is to look for business opportunities with our partners in order to improve our chances of competing for multinational business. As a WBN (Worldwide Broker Network) member, we are well positioned to achieve this. “The entrepreneurial and innovative culture we instil in others combined with our African partners will encourage enterprise development and skills transfer across Africa,” Bolttler emphasises.
Macro-economic growth
As a young and dynamic company stemming from a globally renowned Group, beginning operations in the rest of Africa has not been without challenge. Perhaps the most significant challenge has been South Africa’s sovereign credit rating downgrade to BBB last year, the second-lowest investment grade level in line with Brazil and Russia. “This means even
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Z I M B A B W E We are a leading Insurance Broker and offer a full array of Insurance Products: Agricultural, Motor, Haulage, Business Bloodstock / Livestock Household, Marine hull Healthcare and Travel Life And All Others
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Oyster Bay Office Complex, 368 Msasani Road, Oyster bay P.O Box 7390, Dar es Salaam, Tanzania T: +255 22 266 4204/4209 M: +255 754 22 77 22 E: info@heritagetanzania.com www.heritagetanzania.com
We deliver beyond our promise
Telefax: +263 (04) 251551-7 Email: queries@hrib.co.zw www.hrib.co.zw HRIB Insurance Brokers is proud to be associated with Price Forbes.
Heritage focuses on corporate business, insuring nonlife corporate risk and has a fully qualified technical team to advise on Complete Risk Management Services.
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though our local insurers have the individual credentials to warrant a far higher rating than this, they are immediately pulled down by S&P (Standard & Poor’s) to below the country’s sovereign rating. In a country and continent that heavily relies on foreign investment and lending, it poses a challenge when the foreign lenders and investors normally demand A rated insurers to cover the projects they are funding,” Bolttler further explains. This may impact the macroeconomic growth of the country’s insurance industry and can effect large insurance organisations with hefty international growth ambitions. However, Price Forbes (Pty) Ltd remains largely unaffected during the early stages of its business lifecycle as it is growing at such a rate that it outstrips both the country and the insurance sector’s average economic
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We want to get the message out that we are small enough to care, and large enough to handle big projects
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growth, mainly as a result of being small and agile in a market dominated a few large and cumbersome opponents. Initially operating as an independent South African broker, it quickly became apparent to Price Forbes (Pty) Ltd that it was imperative to gain access to partners beyond the borders in order to provide seamless insurance propositions for Pan-African clients. “Our methodologies allow us to provide more insurance capacity and a broader skill set to our allies across the continent. “We have to seize every opportunity; of course, we make sure it is right for us first. Through their continent-wide businesses, our clients have PanAfrican exposure and we have to be able to offer multinational insurance solutions that cover all areas which we service. In line with this, we now have partnerships in 11 African countries including Angola, Kenya, Tanzania, Mozambique, Zimbabwe, Botswana, Malawi, Uganda and the DRC. “Multinational policies can be tricky to satisfy all; it has to satisfy local legislation which can be known to change regularly. By working closely with partners, we continuously improve our approach to this challenge,” highlights Bolttler. In support of this, Price Forbes (Pty) Ltd has a number of initiatives that specifically focus on enterprise and skills development for black-owned organisations in South Africa. “We provide opportunities they would not normally have, developing local education and technical knowledge in insurance,” he adds.
The right expertise
From the outset, Price Forbes (Pty) Ltd were equipped with a comprehensive, multi-skilled group of staff; some extracted from the competition and some with more than 30 years’ experience in the insurance field. “These people formed the foundations of our expertise, but the next step
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Quietly and with quality capacity we support our selected intermediaries and their clients. Our expert inputs are willingly provided today and everyday. Honesty, integrity and transparency motivate our actions. T: 011 476 4420 www.inniu.co.za Authorised Financial Services Provided FSP No. 34049
was to secure younger people with the right entrepreneurial thinking to sustain the company’s future,” says Bolttler, further explaining that the company has a “healthy blend” of staff, with senior members of staff disseminating technical skills to the younger team members, and longstanding members of the team benefitting from the natural skills the young staff bring. “We have a liberal policy when it comes to training including encouraging attendance to conferences and seminars. Additionally, our new secondment programme will begin in Spring, where we leverage skills from our UK operation in order to allow staff to learn different practices and experience the different geographies of the world,” he adds. Creating a financially stable and viable insurance business in a saturated environment such as South Africa takes a little something extra, which
Bolttler believes Price Forbes (Pty) Ltd offers through its attention to detail and heightened level of time spent with clients. “And our short-term goals revolve around this,” he says. By smoothing out internal and external processes, Price Forbes is able to demonstrate that it has the capacity to deal with domestic corporate business in South Africa to an incredibly high standard. “We want to get the message out that we are small enough to care, and large enough to handle big projects. Price Forbes offer the best of both worlds with a personalised service tailored to the client. “In the long term we will leverage on our reputation in the industry. We’ve had the fundamentals in place built up throughout more than 100 years of history and through targeted acquisitions of like-minded people, Price Forbes will firmly root itself as an African insurance broker you can depend on,” he concludes.
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Knowledge without Borders s the world’s leading provider of risk management, insurance and reinsurance brokerage, Aon’s presence in Africa has been inevitably successful, leveraging the same reputation for human resource solutions and outsourcing services also to bring the very best in services to an expectant clientele. In Kenya, arguably Africa’s most attractive proposition at present, this notoriety is no different, with Aon’s innovative approach, global resources and technical expertise on hand to fit its impressive billing: the world’s best broker; best insurance intermediary; best reinsurance intermediary; best captives manager and best employee benefits consulting firm among its numerous accolades. Within Kenya, Aon’s presence is extensive already, comprising seven offices across the country and made up of three divisions; Aon Benfield, Aon Risk and Aon Hewitt. “Aon Kenya Insurance Brokers Limited became a wholly owned subsidiary of J.H. Minet & Company, Lloyds Brokers in 1954 and has since dedicated itself to providing high quality insurance broking services,” the Company’s website states. “As a result of the acquisition of UK shareholder, Minet London, by global giant Aon Corporation in 1997, the name changed to Aon Minet Insurance Brokers Limited. Currently, the Company
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Aon Kenya is leveraging the wider Group’s number one global positioning in the risk management, insurance and reinsurance space to apply worldwide expertise to local demands Writer: Matthew Staff Project Manager: Callum Philp
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registration is Aon Kenya Insurance Brokers Limited.” Aon’s history in establishing such a dominant presence in Kenya has of course been mirrored in each of its operating regions, but this is not to say that it takes a one-size-fits-all approach as it continues to engrain itself into the fabric of Kenyan finance. The Company adds: “We unite to provide our clients with distinctive client value via innovative and effective risk management and workforce productivity solutions. “We stand ready to draw on our international network and the knowledge of our local experts to give you the best advice, proven solutions and attentive service.”
Empowering clients
We unite to provide our clients with distinctive client value via innovative and effective risk management and workforce productivity solutions
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The balance of honing a reliable and reputable offering synonymous with Aon, while continuously innovating and modernising its service range, is one that Aon is all too adept at managing, and is most recently being epitomised by its plans to move more into the digital space. The launch of its mobile app with a view to enhancing online purchasing and management opportunities is the latest way the Company is expanding its influence across the Kenyan market; subsequently making the business as accessible as possible across all areas of the country. “Aon offers a broad range of products, services and solutions ranging from individuals, local and multinational corporations,” the Company adds in relation to its continuous improvement strategy. “We empower our clients and improve their productivity by providing superior risk and human capital solutions with integrity and professionalism, backed
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SECURING YOUR WORLD G4S employs global best practices to secure customer records and information. One of the greatest threats to your business is the loss of data, which often makes it difficult to make informed business decisions putting your business at a competitive disadvantage and economic risk. G4S Secure Data Solutions provides simple and secure solutions for all your records and information management requirements.
Tel: +254 020 6651 821/22 Mob: +254 722 571 348 Email: securedata@ke.g4s.com www.g4s.com/ke
G 4 S S E C U R E D ATA S O L U T I O N S
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afe keeping of records and their easy retrieval is a key function that enhances operations within an organization. With current and emerging technologies increasing and the amount of data produced, many companies are looking for a records management partner they can trust. At G4S Secure Data Solutions (Kenya) Limited, strategically located secure sites, flexible storage solutions backed up by market leading expertise in logistics and security has made the company a preferred partner in record storage and management. Best practise requires that records be kept away from the centre of business operation to ensure business continuity in case of a disaster. Operating as a subsidiary of G4S PLC, the company employs sophisticated systems that include indexing, track and trace modules that ensure protection identity of documents but easily retrievable when required. This is especially ideal for long-term documents like title deeds, company
blueprints and other documents whose destination could jeopardise operations and continuity of a company. G4S Secure Data Solutions (Kenya) Limited, is a certified member of a global trade association for information management companies. Mr Carey Ngini, Director, G4S Secure Data Solutions (Kenya) Limited argues that corporate espionage is a huge cost to businesses world wide and that highly confidential documents are bound to leak unless they are securely and professionally managed by experts operating within a framework of high ethical codes of conduct. “Digitization of records has become a key aspect in records and information management. It must not be lost that digitization can only be a success when the organisation has a good understanding of its physical records, which by extension informs records that need to be digitized and streamed through a workflow to improve process efficiency. A record kept is only good if you can retrieve it when required. A record that you cannot effectively
Tel: +254 020 6651 821/22 Mob: +254 722 571 348 Email: securedata@ke.g4s.com
retrieve is as good as lost,” says Mr Ngini. “Management of records is a security issue because most fraud matters emanate from management of records, in a manner that may not be acceptable which includes manipulation and the destruction of records,” argues Mr Ngini. Mr Ngini says G4S Secure Data Solutions employs best practices which include high level industry specific software in records management, back-up of records at multi sites which ensures electronic records are kept in an ideal environment to guarantee their integrity and safety. In addition G4S Secure Data Solutions draws a lot of safety and security best practices from its global operations in over 172 countries. We employ stringent security measures, which encompass restricted access to records, and information centres which are covered with electronic surveillance systems centrally monitored at a control and command centre in addition to having rapid
response capability. The company has also invested heavily in fire mitigation measures, which includes dedicated fire response crews’ 24 hours 7 days a week amongst a host of other intricate but efficient measures. Setting up a data centre can be costly bearing in mind the capital expenditure required, time and the capability in the form of human resources and technology. Production of records is a by-product of any business; G4S Secure Data Solutions commits itself to providing simple, cost effective and secure solutions to all aspects of corporate archiving, records and information management. Key benefits of outsourcing the service to G4S Data Solutions is that you will have a peace of mind, time to focus on your core business, guaranteed continuity in the event of a disaster at your premises and professional advise on records and information management that is leveraged and bench-marked against global best practises. www.g4s.com/ke
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COMMERCIAL BANK OF AFRICA (CBA)
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ommercial Bank of Africa (CBA) was established in 1962, and is the largest privately owned Kenyan bank with operations in Tanzania and Uganda. CBA is a Tier One bank with 11m customers and Kes.203b Assets (Dec 2014). CBA offers tailor-made financial products and services to various market segments and continues to harness innovation across its mobile and internet banking platforms. CBA is renowned for its mobile-centric banking solution, M-Shwari and its equivalent in Tanzania, M-Pawa. CBA seeks to expand within EAC and beyond within the next 5 years.
Highly engaged staff provide superior risk and human capital solutions
by highly engaged staff. “We believe that all our clients have a vision they wish to achieve, and to achieve this vision, we work in partnership with them and encourage them to always point out whether we are meeting their requirements for service and, in this way, help them to attain set goals.” Innovations such as those being seen in the tech space at present contribute to the final customer satisfaction achieved on a regular basis, but this is a facet that appears far further down a process which all begins as a consequence of the vastness of service offering. Tailored by specialty, solution and industry, the subsequent departments that combine to form the final Aon offering leaves no stone unturned, but can be broken down to fit within one of the business’s three core divisions. The first, “Insurance and Risk Management, is now widely viewed as a critical boardroom issue. It is
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We believe that all our clients have a vision they wish to achieve, and to achieve this vision, we work in partnership with them and encourage them...
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the cornerstone of every company’s capital structure. When well-designed, an insurance and risk management programme frees you to pursue your vision; unhindered by concerns that you may need to hoard precious financial capital or maintain unusually high levels of liquidity”. Aon continues in regards to the second arm, Human Capital Consulting: “Aon Hewitt is among the world’s top global human capital and management consulting firms, providing a complete array of consulting, outsourcing and insurance brokerage services. “We can help you achieve better business results by finding, developing, motivating and rewarding employees in ways that fit with your broad financial and business goals.” Aon Benfield represents the third strand - Reinsurance - which once again stands as a world-leading broker in providing clients with integrated capital solutions and services.
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BRITAM
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ritam is a leading diversified financial services group, listed on the Nairobi Securities Exchange, with interests across the Eastern and Southern Africa region. The company offers a wide range of financial products and services in insurance, asset management, banking and property. Our product range includes: life, health and general insurance, pensions, unit trusts, investment planning, wealth management, off-shore investments, retirement planning, discretionary portfolio management, property development and private equity. Britam is committed to providing clients with great service and competent financial expertise to help them meet their financial goals.
www.britam.co.ke The Company’s resources facilitate the delivery of its services around the world
Knowledge without borders
“To effectively deliver these, and other services, Aon has developed a global network of local resources brought together via our global business units and strategic account management system,” the Company notes. “These resources let us deliver services around the world – to multinational companies, small businesses, independent agents or brokers, associations and affinity groups, and even individual consumers – with the local expertise necessary to meet your specific needs.” This ethos fits in with a much broader Aon Advantage philosophy which accounts for what the Company considers to be the two most important issues in the economy today; risk and people. “With an employee base of 66,000 people working in more than 120 countries, we can anticipate how changes in one sector impact
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Aon has developed a global network of local resources brought together via our global business units and strategic account management system
another,” the Group affirms. “Another advantage is our client focus: Every day our employees ask, “How can we help a client or how can we help a colleague help a client?” “Because each of our client groups have unique needs, our professionals - coordinated by strategic account managers, or relationship managers - specialise by product, function and client industry; to help you uncover risks and discover new opportunities to make your business more successful, now and into the future.” To achieve this, an extensive employment strategy is in place to not only ensure that the Company retains its market-leading position, but also to enrich people in the surrounding communities, separate from its core service functions. Combining this element with its unrivalled global reputation and “knowledge without borders”, Aon’s presence in Kenya is set to thrive for
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the foreseeable future; capitalising on a globalisation trend to achieve local prominence. “Aon recognised many years ago that our clients want products and services built around their unique needs and provided by professionals with deep expertise in their industries and local markets,” the Company concludes. “We saw that globalisation demanded two capabilities: to gather the best thinking from around the world and to then deliver solutions locally. “With worldwide distribution, a vast base of intellectual capital, and leading technology, we have built a professional services company to achieve these important goals, all focused on areas increasingly in demand; insurance brokerage, risk management and human capital consulting.
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india international insurance celebrates 25 years of underwriting and maintaining a superb claims record Writer Emily Jarvis Project Manager Sheridan Halls
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THE AYES HAVE IT
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ndia international insurance, or iii was incorporated in singapore in November 1987, by amalgamating the four indian state run Non-life insurance companies, which were operating independently in singapore for decades. in his in-depth interview with us, cE and mD of iii, mr Ravindra kumar stated that “this was certainly a more sound and viable option to pool resources to create a robust unit with a strong market presence.” III is now owned by the five Indian government-run general insurance companies, namely gic Re, New india assurance, National insurance, oriental insurance and united india insurance, and continues to grow from strength to strength. a quarter of a century later, the company is exploring new avenues to cater to the ever-changing insurance market environment. kumar states that they are “evolving to stay ahead of the competition.” in 2012, posting an overall profit of S$ 29 million, s$ 17million respectively. Financial strengths kumar is positive about the results for 2013: “we hope to continue the kumar emphasises that “our main trend and post a net profit of around financial strength is that we have s$25 million for 2014.” been rated by standards & Poor as in 2013, the company made a A-with a stable outlook. For the past conscious decision to consolidate few years, this achievement has its position by pruning business provided us with the much needed which did not meet with its market edge over our competitors.” underwriting criteria. “we are keen iii has a very strong capital on consolidating our position in the adequacy Ratio (caR) of 300, which market without losing our focus on is much higher than the regulatory the bottom line. Rather than going for requirement. today, iii’s total assets blind growth, we made this strategic are valued at s$700 million, with a decision which i am sure will reap rich shareholder’s fund of over s$300 dividends in the coming years.” million and investible funds of about iii can attribute its success to: s$650 million. The experienced, qualified and a History of success dedicated work force. over the last few years, iii have seen the company’s good risk retention a positive growth pattern. the gross capacity, being able to underwrite a written Premium (gwP) for 2011 was wide spectrum of risks. s$ 183 million rising to s$ 195 million ability to take decisions in
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We are keen on consolidating our position in the market without losing our focus on the bottom line”
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underwriting and claims matters locally thereby saving on time. its philosophy in maintaining a strong and continuous relationship and providing high standards of service to all its business partners and customers.
tackling the competition
one of the major issues facing any insurance company in the singapore market is intense competition as kumar cites: “overall, the market is relatively small, the rates being very soft and with adequate capacity available, resulting in serious competition.” Due to limited growth in this market, the singapore insurance Fund (siF) business is quite challenging. iii has seen rapid developments in terms of technology, which is now a crucial part of any insurance business. “we are striving to issue
In such a fiercely competitive market, it is your ability to reinvent yourself and think outside the box that sets you apart”
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selective online policies to support our business development. this means customers will soon be able to download policies straight away.” it is a constantly evolving and ongoing process and iii are doing everything possible to keep up with the challenges in the market. in a highly competitive market, it is crucial for iii to forge a close relationship with its business partners to deliver comprehensive products which are competitively priced. Needless to say, handling claims fairly and promptly gives an added edge. mr kumar reiterates: “in such a fiercely competitive market, it is your ability to reinvent yourself and think outside the box that sets you apart. Being quick to monitor market trends and developments to meet the needs of the consumer and adapt your products to the changing needs is one of the mantras of survival.”
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UIB ASIA REINSURANCE BROKERS PTE LTD a subsidiary of uiB Holdings uk ltd uiB ltd uk is an independent lloyds insurance and reinsurance broker headquartered within the london market uiB asia singapore is the Regional Headquarter for Asia Pacific uiB provides insurance and reinsurance expertise and risk management in over 110 countries uiB asia specializes in both conventional and non-conventional reinsurance solutions in the constantly evolving insurance and reinsurance marketplace we are determined to maintain the highest standards of innovation, flexibility, professionalism and service Tel +65 6324 3031 Email general@uibasia.com
www.uibgroup.com
singapore with more than 40 per cent of our gross written Premium coming from this segment. myanmar and indonesia and a few others are probably the new markets to watch out for.”
consolidating the gains of 2012 and Beyond
For the completed year 2012, for which last final audited statistics are available, iii was the seventh largest Non-life insurer in singapore. kumar states: “we have been targeting only those businesses which meet with our underwriting criteria and we have achieved fairly good results. moving forward, i want to continue this trend to ensure that the bottom line is not compromised on and the top line is gradually increased by writing more quality business.” kumar spoke about the future market opportunities for iii as he considers the overseas insurance business as a growing market with great potential. “currently, we write Property and casualty business overseas primarily from the asEaN region. we are of course among the top marine Hull underwriters in
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Catching and moulding youngsters early on is always an investment for the future”
2014: a Year of strengthening the Business
For the current year, iii has set itself a target of s$203 million gwP as Kumar affirmed: “We plan to broaden our distribution network and focus on small and medium Enterprises (smE) and retail personal lines such as travel, home, private car and personal accident insurance. the overseas insurance business will probably see only a marginal increase as this market carries a potentially higher risk.” in marine Hull, iii has created a niche market for itself in singapore and is charting a path of steady growth by increasing their lines on
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TAN KOK QUAN PARTNERSHIP
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ur insurance Department is one of the largest non-marine insurance practice groups, comprising lawyers with experience in almost all classes of insurance, from Property & casualty to motor insurance. we service both local and international brand names in the world of insurance. our mantra is to provide sound advice and strong representation taking into account legal merit and commercial considerations. we have regularly been entrusted with providing defence for corporate policyholders, because we always look to address the needs of the corporate customer, big or small. By our reckoning, your individual policyholders are just as important. when a risk event occurs, we understand that your client’s peace of mind comes from having the right insurer behind them, and the right law firm to protect them. Tel +65 6496 9527 Email teowengkie@tkqp.com.sg
www.tkqp.com.sg lucrative accounts and breaking into new and profitable markets wherever possible. “as i mentioned earlier, there are quite a few emerging markets in asia which present endless opportunities to expand into.” a key aspect for the company’s success is the standard of services provided. improving turnaround times for underwriting quotes and faster claims settlements go a long way in strengthening our market presence.” kumar recognises that some of their personal lines of insurance products are slightly outdated and they are working hard to change this. “we need to improve our relationship with business partners and third party service providers and have on offer more competitive policy. in short, we need to be very innovative and come out with tailored products to meet the expectations of the customer.” with plans for expansion in the pipeline, kumar aims to strengthen his
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existing team by stepping up training programmes and recruiting new talent, as fresh hands mean getting new ideas to the table. “catching and moulding youngsters early on is always an investment for the future.” with this in mind, iii has in the recent past been participating in the general internship Programmes (giP), conducted by the general insurance association (gia) of singapore to train local undergraduates. iii by virtue of its s&P rating of A- with stable outlook, together with its ability to take decisions on almost all underwriting and claims matters, fairly and promptly, reflects the very ideologies on which its building blocks were laid. in conclusion, mr kumar states: “iii will continue to raise its level of performance in all spheres of activity without compromising on core values and strengths. as the great aristotle said: we are what we repeatedly do. Excellence, then, is not an act but a habit.”
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UNITED LEGAL ALLIANCE LLC ulallc is a leading boutique practice dealing with insurance related litigation matters We offer dedicated and quality legal services to our clients we constantly strive to innovate and position ourselves to offer best solutions to any insurance related dispute our lawyers are dynamic and are able to meet challenges to satisfy our clients’ legal needs to meet our clients’ expectations, we recruit the best people to work for us so that they can perform at the highest level We care for our staff and provide a family friendly work environment Tel +65 6338 2477 Email michael@ulallc.com
www.ulallc.com
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Tan Kok Quan Partnership 8 Shenton Way #47-01 AXA Tower | Singapore | 068811 | Republic of Singapore Telephone: (+65) 6225 9333 | Email: mail@tkqp.com.sg Website: www.tkqp.com.sg
Our Services Include: Arbitration | Building & Construction | Commercial Litigation | Corporate | Family Law & Matrimonial Insolvency & Restructuring | Insurance | Probate, Trusts & Estate Planning | Real Estate
Meeting the needs of the present... Setting to meet the challenges of the future
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P O R T F O L I O Outlook Publishing Ltd, Woburn House, 84 St Benedicts Street, Norwich, Norfolk, NR2 4AB, United Kingdom Tel: +44 (0) 1603 959 650 ben.weaver@outlookpublishing.com | www.outlookpublishing.com Magazines: www.africaoutlookmag.com | www.asiaoutlookmag.com | www.europeoutlookmag.com Africa Outlook Asia Outlook EME Outlook Africa Outlook Asia Outlook EME Outlook