The group companies include I&M Bank Kenya, I&M Bank Tanzania, Bank One Mauritius, GA Insurance Ltd Kenya, GA Life Assurance Ltd- Kenya and Highland Estates Tanzania. The Company has an authorized and paid up capital of TZS 4.5 bn. GA Kenya Limited holds 67% and the remaining 33% is held by Highland Estates and its key promoter.
GA Insurance Ltd. Kenya, the major shareholder has been in existence for over 50 years and is led by a professional management team.
GA Insurance Tanzania Ltd was incorporated in October 2013 and commenced business operations in April 2014 with a goal to be a customer-centric organization aiming to provide the best of insurance solutions encompassing private, commercial and industrial segments.
GA Insurance Tanzania is committed to excel in its objective of reaching various segments of the market with a range of insurance products to cater to the distinct needs of individual and corporate customers and thus helping people live safe and more secure lives.
Financial Strength and Reinsurance
The company has in place a strong reinsurance program supported by highly rated securities. The reinsurance program adds to its financial strength by way of higher capacities to underwrite business. All the reinsurers are known for financial strength &stability and have a good track record of timely claims payment for large losses.
The reinsurance capacities in form of Proportional and non proportional programs for all product groups viz, Property and Casualty, Marine Cargo and Hull , Bonds, Liability, Group Health, Political Violence and Terrorism enable the company to underwrite large and very large risks for the diverse industry segments : building ,construction of residential , warehousing and industrial premises ,engineering ,road and other infrastructure projects as well as manufacturing ,textile, chemicals industry.
The capacities in Aviation Insurance are significant and enable it to underwrite medium and large sized fleets for Hull All Risk insurance, liability, aviation personal accident and allied insurances.
The group has strong links with Global Specialty risk reinsurers for catering to covers like Banker’s Blanket Bonds, Director’s and Officers Liability, Commercial General Liability, Multimodal Transit Operator Liability, Port Operator Liability, Oil & Gas exploration and production risks.
Operations and Technology
The company has made a significant investment in technology and implemented the latest version of a well tried and tested insurance software solution to enable it to provide superior customer service by efficient policy issuance, claims management and secure database management.
GA Insurance Tanzania has underwritten insurance programs for clients in varied industry segments like construction, infrastructure projects including road, power generation, transmission and distribution projects, steel manufacturing, textile and chemicals, financial services, tourism and hospitality, FMCG, retail chains, offices, business centers and shopping malls and aviation sector.