First Assurance Company Limited
The first years of the company’s operation were mainly in the life insurance business and the general insurance branch was established only to cater to the general insurance business of life insurance policyholders. This trend changed in 1953 when the status of the East African Full General Insurance Branch was granted.
Business expansion in East Africa led to the opening of a branch office in Kampala and Dar es Salaam in 1958 and 1959 respectively and the creation of the Prudential Assurance Building on Wabera Street in Nairobi which opened on 7 October 1959.
After tax changes to pension contracts, which reduced savings on taxes to a large section of the business community in the early 1970s (the 1970s), long-term business investment in life insurance naturally affected and a large number of compound insurers discontinued their life insurance business . Prudential stopped writing Life Business on April 1, 1974 as the general insurance branch continued to grow
On 1st January 1980, Prudential Assurance Company Ltd ceased writing any business in Kenya and Prudential Assurance Company of Kenya Ltd was incorporated to handle all general insurance business and existing policies issued by Prudential – United Kingdom. Having taken over the local company from a solid base, it continued to grow and moved from the Prudential Assurance Building to Yaya Center in March 1990. On January 1, 1991, the company became a wholly owned Kenyan company to keep pace with the growing trend in the Kenyan economy and changed its name to First Insurance Company Limited. The shareholders of the company are well-known businessmen in Kenya who are determined to carry on the excellent and proven policies of Prudential. Company shareholders are aware of the fact that the strength of an insurance company is not judged solely by profitability. Accordingly, the paid-up capital of the company has been steadily increased and is now Kenyan shillings. 310 million making us one of the best general insurance companies in Kenya.
Vision: First Assurance Company Limited
To be the preferred and reliable provider of integrated insurance and financial services
To provide assurance and quality services for all insurable financial and social expectations that create and add value to all stakeholders
Security, integrity, service quality, professionalism and corporate responsibility
Peugeot House, DSM Office No. 2 Ground Floor
+255 699 581 001
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For more information visit https://firstassurance.co.tz