PUBLIC LISTING - CfC Insurance Holdings Limited (CfCIH).
Jeremiah Kiereini, Chairman of CfC Insurance Holdings (CfCIH) center rings the bell to commence trading of the CfCIH shares on the Nairobi Stock Exchange on 21 April 2011. He is flanked by the Chairman of the NSE Eddy Njoroge (right) and Peter Mwangi the CEO of the NSE left.
The recent Public Announcements made by CfC Stanbic Holdings (CSH) refer to the restructuring of CSH’s Insurance business (CfC Life and Heritage) and the demerging from the banking and financial services businesses of CSH.
The result is that that Heritage and CfC Life are wholly-owned subsidiaries of a new entity, entitled CfC Insurance Holdings Limited (CfCIH).
CfCIH was previously majority owned by CSH, with Liberty Holdings (Liberty) as one of the minority investors, however after obtaining all the appropriate shareholder and regulatory approvals, CfCIH is now separated from CSH and Liberty has become the controlling shareholder (56.82%) and core strategic investor in CfCIH. CfCIH will be listed alongside CSH at the NSE in April 2011.
JG Kiereini, Chairman, CfCIH and Chairman NSE, Eddy Njoroge look on as a trader at the Nairobi Stock Exchange (NSE) commences trading of Insurance Holdings Limited. (CfCIH) shares.
Liberty is one of the largest life assurance companies in South Africa. Standard Bank Group Limited is the holding company of Liberty and controls CSH through Stanbic Africa Holdings Limited.
Over the last 50 years, since selling its first insurance policy, Liberty has become one of South Africa’s leading insurance and investment groups.
With nearly 2.7 million individual policy holders and 9,000 pension funds, it is a formidable force in the South African market and now has a presence in over 11 African countries.
