KCB Group expands its Bancassurance arm to grow earnings

Kenya: KCB Group has launched its expanded insurance agency business, as the lender looks to grow its earnings from new business lines. The KCB Insurance Agency (KCBIA) proposition will initially be available in 98 of KCB’s 187 branches in Kenya, before full roll out across the country.

KCB Group Chief Executive Joshua Oigara said the Bank is positioning itself to expand the insurance business through the use of innovative distribution channels with a focus on growing the Life Insurance and Pensions business whose potential has been barely exploited.