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Morocco s Holmarcom Group acquires 51% stake in Monarch Insurance

Shares Monarch Insurance has announced its deal with the Holmarcom Group through its holding company, Holmarcom Insurance Activities, for the acquisition of a majority stake. The agreement was signed between Mr. Jared Kangwana, Chairman and CEO of Kamu Group, and Mr. Mohamed Hassan Bensalah, Chairman and CEO of Holmarcom. The acquisition is subject to approvals by Kenya’s Insurance Industry regulator, the Insurance Regulatory Authority and the Competition Authority of Kenya. After the necessary approvals, Holmarcom Insurance Activities will become the majority shareholder of the company with a stake of 51%, along with Kamu Group and Maisha Bank. The Monarch Insurance is a composite insurance company and has been operating in Kenya for over 40 years. The company has about 130 employees and a large distribution network that includes agents, brokers and 12 branches countrywide.

National Health Insurance  must be compulsory

‘National Health Insurance  must be compulsory’ Tuesday May 25 2021 If you buy shares on Uganda Securities Exchange, and invest the same $100, if things go well you stand a chance to earn $300 or more. PHOTO/courtesy Summary Section 57 which looks at Community Based Health Insurance Schemes and Section 45 which looks at establishing Regional Health Appeals Tribunals, need to be refocused, Alhaj Kaddunabbi Ibrahim Lubega writes. Advertisement On March 31 2021, Members of Parliament passed the National Health Insurance Scheme (NHIS) Bill, which seeks to provide universal healthcare to all Ugandans. However, before its’ passing, the State Minister of Health Robinah Nabbanja had said the Bill in its current state needed to be withdrawn pending consultations from stakeholders. Instead of withdrawing the Bill, the Minister ought to have asked for some more time before Parliament considers the Bill.

IRA, CMA seek to purchase joint premises in Nairobi

Insurance regulator, CMA to buy joint office in Upper Hill Wednesday May 12 2021 A section of Upper Hill in Nairobi as viewed from the UAP Tower located on Upper Hill road on July 4, 2016. FILE PHOTO | NMG By PATRICK ALUSHULA Summary The insurance and capital markets regulators want to jointly buy office premises within Nairobi’s Upper Hill in a move that will see the watchdogs commit hundreds of millions in seeking space in Kenya’s costliest zone. The two regulators Insurance Regulatory Authority (IRA) and Capital Markets Authority (CMA) want a building with office space of at least 55,000 square feet and minimum of 100 parking bays.

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