BK General Insurance to merge with Sonarwa

Bank of Kigali Group (BK Group) has announced plans to merge its subsidiary BK General Insurance with Sonarwa General Insurance and Sonarwa Life Assurance, companies owned by the Social Security Board of Rwanda (RSSB).

This move has been approved by BK Group's Board of Directors.

The merger between the three Rwandan insurers will give rise to a combined insurance group offering life and non-life insurance products to individuals and companies.

The transaction is subject to shareholder and regulatory approvals, as well as the signature of a definitive agreement between the parties involved.

According to BK Group CEO Uzziel Ndagijimana, the proposed merger would give the bank a foothold in the life insurance market.