PRESS RELEASE Britam shareholders approve change of name

NAIROBI JUNE 26, 2015 – British-American Investments Company (K) Limited (Britam) shareholders have unanimously approved a change of name proposal that will soon see the firm adopt the Limited name.

The shareholders, attending the Securities Exchange (NSE) listed firm’s 19th Annual General Meeting (AGM) at a Nairobi Hotel, extended the nod for the change of name geared at enhancing brand equity.

With the shareholders’ approval, the diversified financial services group that is celebrating its 50th anniversary this year, is now set to embark on the regulatory process to effect the change of name.

Alongside the change of name, Britam Shareholders also approved a change on the firm’s articles of association. The firm’s articles of association have been updated and regularised to provide an equitable platform for all shareholders and directors to enjoy equal voting and resolution passing rights.

Speaking at the AGM, Britam Chairman Amb Francis Muthaura noted that the firm had managed to scale new heights in the last fifty years and outlined plans to further enhance and expand its financial services capacity across Africa.

Ambassador Muthaura stated that the group’s strategy to expand into the rest of Africa with a focus on regionalization, diversification of product portfolio and operational efficiencies remains on course.

“This year Britam is celebrating 50 years of its operations. From humble beginnings as a small home service insurance company, we have seen our company grow to become a premier financial services group with diverse operations in 7 countries across Africa,” he noted. And added: ““The change of name is part of the group’s strategic initiatives that we are putting in place to drive growth into the future. It reflects our next phase of growth with a focus on innovation, superior customer experience and market leadership.”

During the AGM, Britam Group MD Dr. Benson Wairegi, explained that, to foster business growth, the firm, will also be raising its presence in the lower but high volume market segments. “This is part of our overall strategy to go into new market segments with lower Premium Products,” Dr Wairegi assured.

Already, the business development team, he disclosed, is undertaking the necessary market feasibility studies for a series of recently designed innovative products.

Within the growth strategy, Britam, Dr Wairegi said, had also managed to seamlessly apply a variety of integrated distribution channels in among other markets to shore up the firm’s cost to revenue efficiency.

With an asset base of more than Kshs 55billion, the firm’s property development strategy, he added had also begun to take shape in Kenya with rollout plans to other markets now under consideration.

Construction works for its soon-to-be flagship property the 31-storey Britam Tower in Nairobi, he confirmed, are proceeding on schedule. The iconic tower, developed at an approximate cost of Kshs 7billion is projected to be the tallest building in Kenya and the third tallest in Africa.

Listed at the Nairobi Securities Exchange as Britam [NSE: BRIT] is a diversified financial services group. The group offers a wide range of financial products and services in Insurance, Asset management, Banking and Property.

Britam, has offices in Kenya, , , and , and a presence in , and . During the AGM, the shareholders approved payment of a final dividend for the year ended 31st December 2014 of Kshs. 0.30 per ordinary share of Kshs. 0.10 each.

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About British-American Investments Company (Kenya) Limited

Britam is a leading diversified financial services group, listed on the Nairobi Securities Exchange. The group has interests across the Eastern Africa region. The company offers a wide range of financial products and services in Insurance, Asset management, Banking and Property. The product range includes: life, health and general insurance, pensions, unit trusts, investment planning, wealth management, off-shore investments, retirement planning, discretionary portfolio management, property development and private equity.

For more information please contact: Muthoga Ngera, Director, Marketing and Corporate Affairs on email [email protected] or visit http://www.britam.co.ke.