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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
Source Gazette
Vol. CXXII No. 122
Published 14th February 2020