|
About Us
Cannon
started operations in Kenya in 1964 as a branch office of a UK Company
then known as International Life Insurance Company (UK). In 1973, international restructuring and corporate changes within the group saw ILI (UK) Ltd being sold to the merchant banking group - Keyser-Ullmann headed by Sir Edward Du Cann and ILl (UK) Ltd changed its name to Cannon Assurance Ltd. The Company continued to operate in Kenya as a Branch office of the UK Company. It
was in 1974 that Cannon activated the locally incorporated Company as
a fully-fledged Insurance office and Underwriter and introduced the
unique Unit Linked Life Insurance products, which are so popular in
the market today. In 1984 Cannon UK fully divested and sold its entire
shareholding to local interests. The
new Board of Directors decided to add non-life insurance business also
and the Company became a composite insurance Company towards the end
of 1984. At the same time, the Company purchased a commercial building
along Haile Selassie Avenue with this location being the intended head
office. In 1986, after a major extension and refurbishment the project
was complete and Cannon House came into being. The Company moved its head offices there until October 2007 when the company purchase a new building along Mombasa Road and moved its head office. The head office is now based at Mombasa Road - Gateway business park - Block D. The Company offers its services through a network of Branches, Agents and Brokers throughout Kenya. The growth in business has been steady. At the time of take-over in 1984, the capital of the Company was KShs. 4,865,000/=. This has been progressively increased and today stands at KShs. 450,000,000/- The
life insurance gross premium income has grown from KShs. 21,000,000/=
in 1984 to KShs. 74,517,963/= in 2008. The
Company writes all classes of General Insurance Business such as Fire,
Householders, Personal Accident, Workmen's Compensation and Contractors
All Risks. Total gross assets of the Company, as at 31st December 2008
was in excess of KShs. 245,314,793/=. The life fund on the same date
stood at KShs. 514,017,384/=. The assets are invested judiciously and in conformity with the Insurance Act. Investments include Government Bonds and Treasury Bills, mortgages, real estate, shares and loans to policyholders to mention but a few. Today the Company is a market leader in Unit Linked Insurance products and continues its tradition of quality service to its clients. The Company has plans to provide a Unit Linked Pension Scheme. Insurance is a service-oriented industry. The Company has a complement of competent and experienced staff to service the business efficiently. Indeed it does live up to its motto of "CANNON CARES" - caring for the well being of its numerous policy holders.
For further information
contact
|
