Equity Group Holdings has convened its 22nd Annual General Meeting for June 24, 2026, where shareholders will be asked to approve plans to establish three new insurance subsidiaries as the lender accelerates its ambition of building a fully integrated financial services ecosystem across its regional markets.
Among the proposals is the creation of a microinsurance subsidiary in Kenya under Equity Group Insurance Holdings Limited. The proposed unit will be capitalised at KSh 192 million to satisfy minimum regulatory requirements under the Insurance Act and fund its initial operations.
The other two proposals are focused on the Democratic Republic of the Congo, where Equity controls an 85.4% stake in EquityBCDC, currently the country’s second-largest commercial bank.
Although the group already operates Equity Life Assurance Kenya, Equity General Insurance Kenya and Equity Health Insurance Kenya, it does not yet possess a specialised microinsurance licence.
The DRC expansion is expected to capitalise on EquityBCDC’s broad distribution network. The subsidiary recorded a 58% rise in profit after tax to KSh 24.7 billion in the 2025 financial year, supported largely by 17% loan growth.
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Shareholders will vote on plans to establish a life insurance company in the DRC requiring US$12 million (KSh 1.55 billion) in capital, alongside a general insurance business that will require US$13.37 million (KSh 1.73 billion). Both entities will operate under the DRC Insurance Code through the group’s Insurance Holdings Company.
Combined investment into the DRC insurance ventures is projected at US$25.37 million, equivalent to roughly KSh 3.29 billion, pending regulatory approvals.
The move would allow Equity to introduce local underwriting operations in the DRC and strengthen cross-selling opportunities through EquityBCDC’s banking network, mirroring the bancassurance strategy that helped the group’s Kenyan insurance business generate KSh 4.5 billion in gross written premiums during the first quarter of 2026, marking a 30% year-on-year increase.
The AGM, scheduled to take place virtually from 9:00am EAT, will also address standard business matters including the adoption of audited financial statements for the year ended December 31, 2025, approval of a final dividend of KSh 5.75 per share expected to be paid around June 30, 2026, and the re-election of four directors.
Ernst & Young has also been proposed for reappointment as the group’s external auditor.
