Back
APPROVAL 100% confidence via regex

GAZETTE NOTICE NO. 4317

GAZETTE NOTICE NO. 4317

THE INSURANCE ACT

(Cap. 487)

APPROVAL


IN ACCORDANCE with section 114 (1) (a) of the Insurance Act, notice is given of the proposed transfer of the long-term insurance business of Geminia Insurance Company Limited to Geminia Life Insurance Company Limited (formerly known as Southwark Limited). The transferee and the transferor have similar shareholders. The proposed transferor is Geminia Insurance Company Limited, of Post Office Box Number 61316-00200, Geminia Plaza, Upperhill, Nairobi. ("Geminia Insurance"). The proposed transferee is Geminia Life Insurance Company Limited (formerly known as Southwark Limited) of Level 6, Le'Mac Building, Church Road off Waiyaki Way, Westlands, Nairobi ("Geminia Life"). Geminia Insurance wishes to separate the life and general insurance business of the company. Consequently, subject to the approval of the Insurance Regulatory Authority (IRA), Geminia Insurance will transfer its long-term insurance business (together with all assets and liabilities related thereto) to Geminia Life. Particulars of the long-term insurance business, assets and liabilities which will be transferred to Geminia Life are set out in a Statement of Particulars which shall be available for public inspection as explained below. An application has been made to the IRA pursuant to the provisions of section 113 of the Insurance Act, for its approval of the proposed transfer. Copies of the Statement of Particulars referred to under paragraph 4 above have been deposited at the following offices: (a) Mboya, Wangong'u & Waiyaki Advocates, Lex Chambers, Maji Mazuri Road, off James Gichuru Road, Lavington, Nairobi, Kenya. (b) Geminia Life of Level 6, Le'Mac Building, Church Road off Waiyaki Way, Westlands, Nairobi, Kenya. The copies of the Statement of Particulars will be available for inspection by any person interested during normal business hours for a period of thirty (30) days from the date of publication of this notice. Any interested person (including any employee, director, shareholder or policyholder) who has reasonable grounds for believing that he would be adversely affected by the transfer is invited to write or make oral representations to the IRA within thirty (30) days from the date of publication of this notice, stating the grounds on which he believes he would be adversely affected by the carrying out of the transfer. Dated the 18th June, 2020. MBOYA WANGONG'U & WAIYAKI, Advocates for Geminia Insurance Company Limited and Geminia Life Insurance Company Limited, Lex Chambers, Maji Mazuri Road, off James Gichuru Road, Lavington, MR/0781686 Nairobi, Kenya. WANG'OMBE KARIUKI, Director-General. *This Notice supersedes the

Dated the 18th June, 2020.

WANG'OMBE KARIUKI,

Director-General.

Extracted Entities (1)

previous_gazette_ref

4317

Details

Act / Legislation
THE INSURANCE ACT
Reference
Cap. 487
Section
section 114 (1) (a)
Signed By
WANG'OMBE KARIUKI
Title
Director-General
Date Signed
18th June 2020
Page
24
Extraction Method
regex