Eagle Africa offices in Nairobi, Kenya. The company is hoping to tap into the robust East African market. Photo/ANTHONY KAMAU
By JOSEPH MWAMUNYANGE and PAULINE RICHARD
Posted Friday, March 27 2009 at 23:38
Posted Friday, March 27 2009 at 23:38
One week after it opened up for business in
Tanzania, Eagle Africa Insurance Brokers has announced plans to enter
the Uganda market soon.
The company, which is based in Kenya, is hoping to tap into the robust East African market.
Tanzania’s Finance Minister Mustafa Mkullo said
Eagle Africa Insurance Company will help transform the negative image
that many potential consumers of insurance services have.
He said many people are discouraged from seeking insuring by the long period taken by companies to settle claims.
“I challenge Eagle Africa to prove to us that delays in settlement of claims will not occur and to change the entire negative outlook towards insurance,” he said.
Mr Mkullo cited past disappointments in honouring payments to customers.
He said a good attitude towards insurance was vital to national development, especially in regard to long-term investments.
Insurance firms can offer good advice on investment, savings, pension funds and compensation in the case of adversities.
Many people in Tanzania assume that insurance services are a preserve of the rich.
The entry of Eagle Africa Insurance Brokers to
Tanzania will widen the range of insurance services available, step up
employment and increase the tax base.
The firm will ensure that its products meet the demands of the Tanzanian market.
Managing director Sam Ncheeri said the company already has three brunches in the country — in Dar es Salaam, Tanga and Iringa.
He said the company’s vision is to extend services and become the number one insurer in East Africa.
Ncheeri added that the firm would enter the Uganda market soon.
Eagle Africa Insurance Brokers was established in Kenya in 1951.
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