NAIROBI SEPTEMBER 22, 2015 (CISA) – Pacis Insurance Company on September 18 marked 10 years since the company began insurance business.
Pacis is a Latin word meaning ‘peace’ and the insurance company was started by the Catholic Church in Kenya. Its ownership is made up of various dioceses through shares, Religious Superiors’ Conference of Kenya (RSK) and the Association of Sisterhood of Kenya (AOSK).
The event that took place at Catholic University of Eastern Africa (CUEA) brought together share holders, board members, management and employees of the insurance company.
“Today we celebrate and mark our 10 years of our existence with gratitude and thanks to our mighty God for bringing us this far,” said the company’s Chairman, James Wangunyu during the ceremony.
Mr Wanguyu stated that the vision of setting up Pacis dates back to 1997 when the Kenya Conference of Catholic Bishops (KCCB) set up Waumini Insurance Agency with a view of converging it into a fully fledge insurance company.
“In the year 2002 a survey was carried out to determine the viability of setting up an insurance company and the findings were that starting an insurance company was very viable,” he said adding. “It was a viable undertaking that was long overdue.”
In 2004 the company was incorporated and licensed to transact insurance business and in 2005 the company in its fast year of business “posted a premium of 12.2 million and this was to grow to reach about one billion last year.”
“We have grown from one branch to eight branches all over the country. We started with two employees but today we have about 96 permanent staff members and about 170 tied selling agents,” Pacis Managing Director, Peter Makhanu told CISA.
“Within the years we have been in existence we have been able to put up an ultra modern office block in Westlands called Pacis Centre fondly referred as the ‘Building of Faith’ that is fully let out,” he added.
Among those in attendance included the Vice Chancellor of CUEA, Msgr Dr. Pius Rutechura, Archbishop Martin Kivuva of Mombasa, Archbishop Zacchaeus Okoth of Kisumu, Bishop Peter Kihara of Marsabit, Bishop Salesius Mugambi of Meru and Bishop Anthony Muheria of Kitui and Apostolic Administrator of the Catholic diocese of Machakos.