British American Investment Company, a leading diversified financial services group in the country offering a wide range of insurance and asset management services, last week held a cocktail for online financial writers and bloggers in a groundbreaking move to engage the country's online community. The company is seeking to raise KES 5.85 Billion by issuing 650,000,000 new ordinary shares at an offer of Ksh 9 per share, and is looking to tap into the blogger's community to educate the public on the IPO.

The event, held on Thursday at the upscale Sierra Lounge, Yaya Centre, saw presentations from the CEO - Benson Wairegi, and Mr John Kiruthu - Head of Corporate Finance and Transactional Services at KPMG, the transaction advisors.

In his presentation, Mr. Wairegi highlighted the strength and long service of the group to Kenyans and also gave an insight into what the company is looking to do with the funds raised from the IPO. He pointed out that British American's strength lay in its life insurance business, which as a long term business, provides more opportunities for high returns.

Mr. Kiruthu guided the attending bloggers some of the considerations that go into the valuation of insurance companies. He was joined by Mr. A. Dabani, the Group's Chief Actuary, Head of Risk and Head of Innovation, who pointed out some of the differences between British American and other insurance companies.

(Over the coming weeks, The Money Academy will be running a series of articles on British American leading up to the IPO. Stay tuned in as we delve into the company, its people and the IPO)