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Linkham completes buy-out of Kenyan insurance firm

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Mauritius-based Linkham Group has reportedly completed a deal to acquire a majority stake in Resolution Insurance Kenya, a leading local general insurance services provider.

Resolution Insurance was founded in 2002 by Mr Peter Nduati as a medical insurance provider in Kenya, changing its name from Resolution Health to Resolution Insurance in 2013 as it expanded into East Africa.

The firm has grown to become a tier-two underwriter offering various products from medical plans, travel plans, liability plans, property covers, motor covers and all other classes of general insurance.

The acquisition undertaken at an undisclosed consideration will see the Linkham Group invest significant resources to revamp and fuel Resolution Insurance Kenya growth plans, KBC reported. “This will entail focusing on quality customer service delivery, adopting cutting-edge technologies, and risk management practices,” it said.

As part of the plans, Linkham Group has also reportedly appointed Mr Peter Nduati as the new Resolution Insurance Kenya Chief Executive Officer with immediate effect. Mr Nduati will continue acting as the Resolution Group Chief Executive officer.

Resolution Group runs Resolution Insurance Kenya, Resolution Tanzania and Resolution Credit Ltd.

Linkham Group Chief Executive Officer Mr Michael Cranfield said the acquisition is part of the Mauritius headquartered firm’s Africa expansion plans, KBC added.

Plans are said to be at an advanced stage to optimize Resolution Insurance’s operating potential through the integration of “robust information technology systems.”

Headquartered in Mauritius, the Linkham Group provides global Insurance Solutions for the Travel, Financial Services and Card payments Industries. The firm controls operating subsidiaries providing specialist services, including Linkham Risk, Linkham Consulting, Linkham Technology, Linkham Claims, Linkham Brokers and Linkham Assistance.

Read original article on KBC

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