Regional insurance firm, Britam is optimistic its stake increase in Kenyan mortgage firm, Housing Finance (HF) will strengthen its capacity to seek the same synergies with a local banking partner should the regulatory environment support the Bancassurance business model.
Bancassurance is the partnership between a bank and an insurance company whereby the insurance company uses the bank sales channel in order to sell insurance products, an arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank's client base.
Bancassurance, the sale of insurance and pensions products through a bank, has proved to be an effective distribution channel in a number of countries in
A few weeks ago, Britam announced its intention to acquire the
Britam already has a 21.46 per cent stake in the mortgage company, meaning the impending deal could push its ownership of the mortgage firm to 46 per cent, Patricia Wanjama, the head of legal and assistant company secretary at
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