Fusion Insurance Brokers, a subsidiary of Fusion Capital, has ventured into East African markets to offer brokerage services in Uganda and Rwanda. The brokerage company, that was set up in April 2015, to primarily focus in Kenya has recently entered Uganda and now Rwanda. Fusion’s key offering in these regions lie in general insurance and specialties insurance among other products. “The Rwanda and Ugandan markets are both attractive and challenging for new entrants, due to the low insurance penetration levels and a growing economy” said Daniel Kamau, the firm's chief executive officer. “We are already in these markets and hence we are not increasing our operational costs yet taking advantage of our brand presence in these countries.
Kevin Sanya, the business development manager said: “We are seeking to work with local agencies to deliver quality services to our customers”. The insurance sector remains a critical one in the financial services sector although current penetration rates in Africa remain at 2.9 percent. With Kenya leading the East African region with a penetration of 2.73 percent, we hope our contribution to these new markets, will improve the region’s penetration capitalizing on the immense opportunity in the industry and buzz in this sector,” said Sanya.
Fusion Insurance Brokers Limited is part of the Fusion Group and is licensed and regulated by the Insurance Regulatory Authority (IRA) and specializes in providing insurance and risk management services in the greater East African region.