Mombasa Branch
Visiting Address: Maritime Center, Archbishop Makarios close (off Moi Avenue)
Postal Address: P.O. Box 90101, Mombasa, Kenya.
Tel : +254 (11) 224646 / 224647
Fax : +254 (11) 311574
 Strategy |
 Motto |
Within Kenyan insurance, financial and real estate circles the acronym ICEA is immediately recognized and associated with strength and reliability, as embodied by the company's motto - Profile of stability.
| History |
ICEA was established in 1964, just a few months after Kenyan independence, by three foreign insurers, the Eagle Star and the Welfare Insurance companies of the United Kingdom, and the New Zealand Insurance Company. It was acquired ten years later by Kenyan investors who subsequently formed the FCS group of which the company is now a member.
| The quiet revolution |
The development of ICEA during the period since
its formation might aptly be described as a 'quiet
revolution'. 'Quiet' because through tradition the
company has acquired a reputation for business prudence
and unobtrusive efficiency. 'Revolutionary' because
ICEA has grown to become Kenya's leading and most
highly capitalized composite insurance company,
with an annual turnover approaching 2 billion Kenya
shillings and total assets in excess of 8 billion
Kenya shillings. |
| Leader in its field |
ICEA's long-term business division is now Kenya's largest provider of group life insurance products and foremost pension fund manager, with a life fund surpassing 7 billion Kenya shillings - by far the largest in the country. This success is a reflection of the trust and confidence that the company has earned through its dedication to security and quality service. Innovation too has played its part - ICEA pioneered the introduction of employee benefit deposit administration and personal retirement schemes to the Kenyan market.
The philosophy has also lent momentum to the expansion of ICEA's general insurance underwriting activities. Significant growth since the early 1990s, facilitated by investment in human resources and technology, has seen the company become one of the market leaders, with a clientele comprising many of the country's major business enterprises.
| Investments |
ICEA's investments, particularly in property, underpin its financial strength. These include some of Nairobi's most prestigious landmark commercial buildings, such as the ICEA Building and AMBANK House, Riverside Park, a unique development of 151 luxury homes, is the flagship of a substantial prime residential portfolio.
A number of other large projects are being undertaken, which will reinforce the company's status as one of the leading property owners and developers in the country.
| Future |
The 'quiet revolution' is destined to continue, manifesting itself in further expansion and diversification of ICEA's revenue, capital base and investments, as the company strives to anticipate and meet the ever-changing needs of its clients. In the process ICEA will also continue to make a worthwhile contribution to the development of the Kenyan economy. |
