MMI Announces Strategic Investment into Kenya Operations to Drive Growth

Change of Service Centers set to enhance Customer Experience

Nairobi, 20th January 2017 – MMI Holdings (the majority SA shareholder of Cannon Assurance Limited and Metropolitan Cannon Assurance Limited), has announced that it will be making strategic investments into its Kenya operations that will enrich the user experience of its customers and intermediaries.

The company initiated a process to revamp all processes and review all products using international experience and local trends to transform the business to provide service excellence to our customer and intermediary. In this process we have taken the difficult decision to close our service centers in Nyeri, Thika, Nakuru and Eldoret to reinvest the savings into increasing the service capacity in its Nairobi, Mombasa and Kisumu branches.

‘The acceleration of the strategic investment into our Kenya operations, confirms MMI’s commitment. Change in our service centers involves making hard decisions that we believe not only differentiates us from other players in the insurance market but provides an enhanced intermediary and customer experience,’ Innocent Dutiro, CEO Africa & Asia MMI Holdings, said.

About MMI Holdings Limited

MMI Holdings Limited is a financial services group that is listed on the Johannesburg Stock Exchange.

With operations in 18 countries across the globe: 13 in Africa, Hong Kong, Singapore, United Kingdom, Indonesia and India through a direct presence, strategic partnerships and joint ventures, MMI’s vision is to be the preferred insurance provider with a reputation for innovation and trustworthiness. The group’s purpose is to enhance the lifetime financial wellness of people, their communities and their businesses.

Metropolitan Life Kenya has been operating since 2007, offering primarily life insurance solutions to retail and corporate clients. In 2013, the company held a solid position in the market place and managed to increase market share.

Established in 1964, Cannon Assurance has a wide footprint in Kenya, offering a comprehensive suite of insurance products and asset management solutions.

In 2014, MMI purchased a majority stake in Cannon Assurance to increase its offering in East Africa.

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