This article is part of a series sponsored by Britam

Step 1: Kenya

The group made its first step in East Africa by setting up an insurance company in Kenya in 1965. Their main focus was home service life insurance, and required sales agents to go door to door offering their packages. The foreign ownership ran for a span of 15 years until 1979 following a government directive that all branches of foreign-owned insurance companies be incorporated locally. The directive would soon open doors for Kenyan investors to acquire a third of the shareholding in the company.  At this time, it was part of an international group that was foreign-owned and had 9 branches across the country.

To date, the insurance company has 14 branches in Kenya distributed as follows:

Step 2: Uganda

After spending over 45 years providing financial-based services in Kenya, the company decided to venture outside the border. It placed its foot in the regional market in 2010 in Uganda with a commitment to provide its Ugandan clients with financial expertise.

The insurance company was incorporated as British-American Uganda Limited on 26 July. Exactly 3 months down the line, the name was changed to British Insurance Company (Uganda) Limited and operations began the following month. Their unique service provision landed them assets worth KES 149.3 Million within their first year of operation and revenue in excess of KES 24 Million.

Step 3: (Potential)

The company has currently set its eyes on 3 more countries in Eastern Africa; Tanzania, Rwanda and South Sudan.

South Sudan has been marked as one of the most promising markets the company has been to. In an interview with CNBC Africa, the group financial director Mrs.Karuri Gladys noted that challenges in the country included currency which South Sudan is sorting out. The country was coined as a 'virgin land' and that the company would break even sooner than in more developed countries. With the help of Bank of South Sudan (B.O.S.S), Britam has been able to get through procedural challenges as the framework is still being set up.

Rwanda has been marked for entry after final set-up has been done in South Sudan. Entry will be smoother as the country is more enabling for investors and has procedures that clearly articulate what is expected of them. An estimated total of KES 300 Million will be used to establish Britam in Rwanda and will finance operation for 2-3 years.