Fusion Insurance Brokers enter Uganda and Rwanda markets

Fusion Insurance Brokers enter Uganda and Rwanda markets

Fusion Insurance Brokers, a subsidiary of investment services group Fusion Capital, has ventured further into East African markets to offer brokerage services in Uganda and Rwanda.

The brokerage company that was set up in April 2015 to primarily focus in Kenya recently entered Uganda and is now in Rwanda. Fusion’s key offering in these regions lies in General Insurance and Specialties Insurance among other products.

"The Rwanda and Ugandan markets are both attractive and challenging for new entrants, due to the low insurance penetration levels and a growing economy."

Fusion Chief Executive Officer, Daniel Kamau

“We are already in these markets and hence we are not increasing our operational costs yet taking advantage of our brand presence in these countries,”  he added.

“We are seeking to work with local agencies to deliver quality services to our customers,” said Kevin Sanya, the Business Development Manager of Fusion Insurance Brokers.

The insurance sector remains a critical one in the financial services sector although current penetration rates in Africa remain at 2.9%.

"With Kenya leading the East African region with a penetration of 2.73%, we hope our contribution to these new markets, will improve the region’s penetration capitalizing on the immense opportunity in the industry and buzz in this sector."

Fusion Insurance Brokers Business Development Manager, Kevin Sanya

Fusion Insurance Brokers Limited is part of the Fusion Group and is licensed and regulated by Insurance Regulatory Authority to operate in the East African Community, while Fusion Capital is a Private Equity Firm focused on Real Estate investment and Fund Management based in East Africa.

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