Sompo Holdings, the Japanese insurance and reinsurance company, has entered into a new partnership with financial services group Sanlam Kenya to expand its influence and investments in Africa.
This is according to reports from Capital Business, who said that Sompo will specifically be targeting East Africa, where Kenya is attracting substantial Japanese investment interest.
Daisuke Taoka, Head of Sompo Japan Nipponkoa Insurance Johannesburg Representative office, said the agreement would allow the company to position itself as a strong insurance and reinsurance player in the region.
“It will also provide a much better service to our Japanese customers entering the country,” he said
Sanlam Kenya Group CEO Patrick Tumbo also noted that the alliance would provide Sanlam with access to the East African region and support its growth opportunities in Kenya.
Sompo entered into its first partnership agreement with the Sanlam Group in October 2017 through Sompo Japan Nipponkoa Insurance, with the aim of providing long-term insurance support to its corporate clients across Africa.
The Tokyo-headquartered firm currently operates across 31 countries and regions throughout the world, including in Japan.
