NCBA Group PLC (“NCBA”) has officially unveiled the new brand identity for its insurance subsidiary following the full acquisition of AIG Kenya in July 2024. The subsidiary, now operating under the name NCBA Insurance Company, will adopt the brand identity NCBA-IG (NCBA Insurance Group), marking a new era in the Group’s expansion within the financial services industry.
NCBA-IG joins NCBA’s six other subsidiaries, reinforcing the Group’s commitment to delivering comprehensive financial solutions. This move aligns with NCBA’s strategy to strengthen its presence in the insurance sector and provide innovative, customer-focused solutions.
Speaking at the brand unveiling, John Gachora, NCBA’s Group Managing Director, stated: “It is an exciting day as we unveil NCBA-IG, the new brand identity for our insurance business. This rebrand signifies the successful integration of NCBA Insurance Company into the NCBA Group PLC family. The transition will leverage the strengths of NCBA, a well-known and respected financial services brand in Kenya and across Africa. NCBA-IG will now be more competitive, with amplified positioning in the market, inspiring growth as a trusted insurance solutions partner and reinforcing our customer obsession mission for 2025.”
NCBA sees significant growth potential in the insurance industry, which was valued at KES 309 billion in 2023 and continues to expand at a compound annual growth rate (CAGR) of 10%. The general insurance market alone accounted for KES 188 billion ($1.3 billion) in 2023 and is projected to grow at a CAGR of over 9% between 2024 and 2028. This growth reflects the increasing demand for insurance products, as more Kenyans seek financial security.
Expanding Offerings and Enhancing Customer Experience
Stella Njunge, Managing Director of NCBA Insurance Company, highlighted the strategic benefits of the new brand identity: “Being part of NCBA has significantly enhanced our ability to deliver exceptional products and services to a wider set of customers. The strength of the NCBA brand and its deep local market history empower us to provide relevant insurance solutions. With this new identity, we aim to improve insurance awareness, demonstrate value for our customers, and accelerate our growth within the insurance sector.”
The transformation into NCBA-IG underscores NCBA’s commitment to diversifying its offerings and expanding its reach in key markets. As NCBA-IG builds on its legacy
