A preview of what the General Manager Finance had concerning the results;
MEDICAL DIVISION;
• Had the highest claims and affected the profit growth. The company is undertaking the following steps;
• Revamped claims department
• Biometric registration at the hospitals is being introduced to eliminate fraud.
• Staff have been taken for training on handling the new business.
• A person who is a medical doctor has been recruited to oversee the medical division.
OTHER INSURANCE CLASSES
• Partnering with supermarket and shops
• Partnering with banks i.e. banc assurance
• Micro-insurance
OPENING A SUBSIDIARY IN MALAWI:
• Opportunities in Malawi
• Been approached by unions in Malawi that’s why they are going to Malawi
• For the first 1 year not much expected in terms of premiums about ksh.50million
• After that premiums will be doubling after 2 years
Real Estate Portfolio
• 512 acres in kajiado and 200 acres in kiambu
• An organisation has requested it wants 200 units
• There is also an investor who has requested joint venture in Karen
• US Sacco want them to develop properties in partnership with them.
• From the 712 acres they will develop some residential units and sell and also serviced plots.
• Going forward real estate will be a major contributor.
• This year they are expecting ksh.100 million in rental income from twin towers
• Also partnering with counties to develop housing units.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle