The proposed transaction is expected to strengthen Rwanda’s insurance sector by creating a well-capitalised, diversified, and customer-focused insurance group. By uniting the operational strengths and product offerings of BKGI, SGI, and SLA, the new entity aims to offer greater value to policyholders, enhance innovation in the sector, and support long-term sustainability.

According to the joint announcement, BKGI and SGI will merge to form the general insurance arm of the group, while SLA will serve as the life insurance subsidiary. Together, the companies will form a forward-looking institution capable of serving both individual and corporate clients in Rwanda and beyond.

The initiative reflects a broader ambition to boost financial inclusion, improve service delivery, and contribute to the growth of Rwanda’s insurance industry.

The new group is expected to benefit from an expanded distribution network, digital platforms, and a broader suite of products that respond to evolving customer needs and deliver higher value for shareholders.

“This partnership brings together trusted names with shared values and complementary strengths—and sets the stage for a transformative insurance group that will drive innovation, expand access, and deliver meaningful value to Rwandans and our shareholders,” said Dr. Uzziel Ndagijimana, Group CEO of BK Group PLC.

Regis Rugemanshuro, Chief Executive Officer of the Rwanda Social Security Board, described the initiative as part of RSSB’s long-term vision to support inclusive economic growth.

“By joining forces to form this new insurance group, we are laying the groundwork for a strong, competitive player that is built for the future and committed to serving the needs of Rwandan people,” he said.

The formation of the new insurance group is subject to shareholder and regulatory approvals, along with the successful completion of legal and procedural requirements.

BK Group Plc is the holding company of the Bank of Kigali.

Regis Rugemanshuro, Chief Executive Officer of the Rwanda Social Security Board, described the initiative as part of RSSB’s long-term vision to support inclusive economic growth.