Phoenix Assurance Group is one of the dynamic financial power house operating short term insurance companies in Africa. The Group is also involved in Microfinance in select countries. Phoenix Assurance Group’s origins can be traced back to 1912 when the first Phoenix Assurance operations started in Kenya. It was on 10 October 1912 that the first insurance policy was issued by the Company with a premium of Rupees 7 !! The operations were later bought out by Transworld Investments Limited in 1992. Operations outside Kenya (ie Tanzania, Uganda, Rwanda, Zambia, Botswana, Mozambique, Namibia and Swaziland) were conceptualized and initiated by Mr Maheboob Alibhai who also had a major role to play in the takeover of controlling interest from Sun Alliance. COMPLIANCE – May 2014 – To comply with the provisions of the Insurance Act in Kenya, the majority shareholding in Phoenix Transafrica Holdings Ltd was diluted by the Alibhai family. The family continues to hold shares in Phoenix of East Africa Assurance Company Limited which has controlling interest in Phoenix Tanzania, Phoenix Uganda and Phoenix Rwanda.
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