Mayfair Insurance Company Limited has opened subsidiary in Rwanda with a target of extending insurance services to different categories of people and institutions in the country.
Originating from Kenya, Mayfair Insurance has branches in Tanzania and Zambia with the latest branch opened in Rwanda.
The Managing Director of Mayfair Insurance Rwanda Ltd, Daniel Mugisha Muhimuzi, has told IGIHE their insurance company will cover all areas except health and medical insurance.
“Mayfair Insurance insures properties, cars, houses, fire insurance, merchandises, construction, accident insurance among others. We have introduced particular services as payments can be made through technology platforms like Mobile Money and Tigo Cash among others,” he said.
The company is committed to offering better insurance services to Rwandans and their businesses including agriculture. It also has means of facilitating customers to make payments and plans to boost Rwandans’ appreciation of insurance services.
“Insurance services support national economic growth. In case of commercial building catching fire, it is a loss to the owner, the bank which provided the loan. It would be indeed incurring loss to the country because the commercial building burnt without insurance was paying taxes and hiring employees who pay taxes too,” said Muhimuzi.
Muhimuzi unveiled that Mayfair Insurance is committed to efficiency and timeliness in the delivery of services.
“The client will not need to wait for days. He/she will receive compensation as soon as required documents are presented,” he said.
Mayfair Insurance competencies
The Underwriting Manager at Mayfair Insurance Rwanda, Fred Karanja has told IGIHE that the institution has registered tremendous progress which saw it emerging among top insurance companies in Kenya.
“We cover the insurance of Nakumatt. Following the attack at Westgate (on 21st September 2013 damaging properties, taking lives of 67); we paid them Kshs1.3 billion at the time. The act attracted many clients later to Mayfair realizing our potential to solve such a problems,” he added.
Currently, Mayfair Insurance Company covers insurance of various hotels in the region, Safaricom Telecommunication Company among others. The company has an accumulated 12 years of existence.
Rwanda, Kenya good relations as key for the investment
The founder of Mayfair Group , Peter Kenneth met Mayfair Rwanda branch managers and partners on Monday where he assured that Mayfair Insurance will undoubtedly offer good services to Rwanda based on long standing achievements in other countries including Kenya, Tanzania and Zambia.
Kenya’s ambassador to Rwanda, John Mwangemi welcomed Mayfair Insurance Company to Rwanda noting that the country expects the private sector to take the lead in the country’s development.
He said that Rwanda is a best place for business.
Mayfair Insurance in Rwanda operations started officially on Monday. It has offices at the second floor of M-Peace Plaza building in Kigali town.