Sanlam Rwanda, arguably the largest local insurance company, has hired Betty Sayinzoga as the new Chief Executive Officer for its General Insurance.

The firm controls over 40 percent of the insurance market in the country.

The move comes at a time when the insurance industry increasingly requires new strategies for profitability and growth, especially following losses in underwriting.

According to the firm, Sayinzoga brings solid experience and an outstanding ability to build and grow successful organisations and businesses.

Following her appointment, the firm noted, she has initiated the reform of its operations to, among others, be more client-centric through embracing innovative digital solutions.

"The insurance industry can do much more to increase insurance uptake in Rwanda. We need to improve the reputation of the industry by providing accessible, affordable, transparent and timely solutions to Rwandans,” Sayinzoga said.

Sanlam, also the continent’s largest non-banking finance group, has announced plans to expand product offering, data and digital transformation, empowerment, building a future-fit culture, innovation and partnerships.

Sanlam in 2019 completed the acquisition of Soras one of the biggest insurance companies in the country and Saham Finances, creating the biggest insurance company in the country with two portfolios; Sanlam General Insurance and Sanlam Life.

Who is Betty Sayinzoga?

Sayinzoga boasts of over 20 years in the finance industry.

Prior to her appointment, she served in various key positions, including as the CEO of Prime Life Insurance, as well as the CEO of Saham Life insurance Rwanda.

Also on the local market, Sayinzoga has previously worked at PriceWaterhouseCoopers (PwC), a multinational professional services network.