Real shareholders approve name change to Britam

Shareholders of listed Real Insurance Company of Malawi Limited on Friday unanimously approved the change of name to Britam Insurance Company Limited at an extra-ordinary general meeting (EGM) in Blantyre.

The change of name follows the buying, in August 2014, by Britam (Kenya) Limited of 99 percent shareholding in Real Insurance Company (Kenya) Limited, which owned 65 percent stake in Malawi Stock Exchange (MSE)-listed Real Insurance Company of Malawi Limited.

“The directors are of the view that it is in the best interest of the company to change its name and realign itself with the Britam name and brand which is a strong brand within the region and globally,” Real Insurance chief executive officer Grant Mwenechanya told the EGM.

He said the new name will take effect from the date the certificate of change of name is issued by the registrar of companies.

Britam, which also operates in Uganda, Tanzania, Mozambique, South Sudan and Rwanda, has interests in insurance, asset management, banking and property management.