MUA Kenya, previously known as Phoenix of East Africa Assurance Company Ltd, has been offering short-term insurance since 1912 to the Kenyan market and has significantly developed its insurance activities in Tanzania, Uganda and Rwanda. MUA Kenya is strongly focused on digital innovation, with the launch of online travel insurance and accidental death cover via USSD mobile application. Following the acquisition of Saham Kenya in July 2020, the two entities completed a comprehensive integration process in July 2021.
Mr. R.W. Grater from Phoenix Assurance Company UK appointed to run the company’s agency in Nairobi, becoming one of the first foreign insurance companies to be represented in East Africa.
A full branch established in Nairobi. The company grows rapidly and Phoenix ranked high among the leading companies in the region.
Phoenix of East Africa Assurance Company Ltd. was formed in partnership with the local agent A. J. Miller & Sons Ltd. Initially, Kenyans only held 11% of the shares. By 1980 the Kenyan participation had grown to one-third to the shareholding.
Phoenix of East Africa Assurance and the Sun Alliance Group U.K. merged in the United Kingdom and the Kenyan operation was renamed Sun Alliance Insurance Company Limited.
The local shareholders took control of the company, reconstituted the company board and the name was reverted back to the original Phoenix of East Africa Assurance Company Limited (PEAL). The company had a majority of local shareholders, with the Alibhai family holding 81% of the shares.
Following local regulatory changes, the Alibhai family sold 66% of their shares to MUA, a leading insurance company in Mauritius, which was established in 1948. The group now employs over 825 people, with agencies and branches in Mauritius, the Seychelles, Rwanda, Tanzania, Uganda and Kenya.
The various divisions of the Mauritius Union Group, including Phoenix of East Africa Assurance Company Limited, came together under a single regional and dynamic insurance brand – MUA.
MUA completes the acquisition of Saham Kenya.
Consolidation of the General Insurance business of Saham Kenya and MUA Kenya.
Dedicated team focused on providing cross-border insurance solutions;
Our value proposition includes centrally managed global policies with local policies arranged in foreign jurisdictions for subsidiaries or portfolio companies;
Working arrangements with over insurance companies and insurance networks across Africa;
MUA is the exclusive member of Globus in Mauritius and Seychelles. Globus is a Pan-African network of over 50 leading insurance companies.
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