NCBA Group PLC has officially rebranded its insurance business to NCBA-IG (NCBA Insurance Group) following its full acquisition of AIG Kenya in July 2024. The transformation marks a strategic move to solidify NCBA’s presence in the rapidly growing insurance sector and aligns with its mission to offer innovative financial solutions.

“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. With this transition, we aim to amplify our market presence and become a trusted insurance solutions partner,” said NCBA Group Managing Director John Gachora.

Kenya’s insurance industry, valued at KES 309 billion in 2023, continues to expand at a compound annual growth rate (CAGR) of 10%. The general insurance market alone was worth KES 188 billion in 2023 and is projected to maintain a CAGR of over 9% between 2024 and 2028. NCBA-IG is set to leverage this growth, offering innovative and customer-centric insurance solutions to enhance market penetration.

“Being part of NCBA has significantly strengthened our ability to deliver exceptional products and services. The NCBA brand’s deep market history positions us to provide relevant, value-driven insurance solutions to a broader customer base,” said Stella Njunge, Managing Director of NCBA Insurance Company.

The transition to NCBA-IG aligns with the Group’s broader strategy of diversifying its offerings and expanding its regional influence. As the company embarks on this new chapter, it aims to drive financial inclusion and introduce cutting-edge insurance solutions that meet the evolving needs of its customers.