Two East African insurance firms merge and rebrand
The Dar es Salaam-based Lion of Tanzania Insurance Company is now Icea Lion Tanzania, thanks to a merge between two parent Kenya-based companies.
Lion of Tanzania was a subsidiary of the Kenya-based Insurance Company of East Africa (Icea), which is rebranding today after its parent company successfully merged with Lion of Kenya Insurance Company to form Icea Lion Group.
A statement, a copy of which was sent to The Citizen yesterday indicates that the two companies entered into a merger early this year in a development that will see the group’s subsidiaries in Kenya, Tanzania and Uganda rebranding to the new name.
“This merger resulted in the creation of one of the largest insurance groups in the region, with insurance operations in Kenya, Uganda and Tanzania as well as leading subsidiaries in fund management and corporate trusteeship. In line with the above merger, Lion of Tanzania has now been rebranded to Icea Lion Tanzania,” the statement reads. All clients, intermediaries and business partners for the former Lion of Tanzania now move to Icea Lion Tanzania.
The insurance subsidiaries in Uganda and Tanzania – Icea Uganda Limited and Lion of Tanzania Insurance Company Limited, previously controlled separately by Icea and Lion of Kenya respectively, also form part of the Icea Lion Group.