SPONSORED: RSSB take over SONARWA

A two-all draw marked the final result of a friendly football match between SONARWA and National Bank of Rwanda (BNR) staff during a playoff that took place on Friday 24/11/2017 as RSSB marked the growth its stake in SONARWA. By the end of the year 2016, in order to strengthen SONARWA Life and SONARWA General and improve services to their customers, Rwanda Social Security Board (RSSB) increased its shareholding in the two companies to 100% shares in SONARWA Life and 79.46% in SONARWA General respectively. The changes brought a big boost in both companies especially in terms of quality services delivery. The takeover is also largely viewed as an opportunity for the firm to regain a positive reputation and restore its glory. The two companies have new Managing Directors: Mrs. Aurore Mimosa Munyangaju and Tony Twahirwa respectively the CEOs of SONARWA Life and SONARWA General. According to law no. 05/2009 of 29/07/2009 on licensing and other requirements for Insurance Companies, paragraph 3 of the law stipulates that short term business cannot be combined with long term business. It is in this perspective that SONARWA was split in two companies namely SONARWA GENERAL INSURANCE COMPANY LIMITED selling short term business and SONARWA LIFE ASSURANCE COMPANY LIMITED selling long term business. SONARWA Life sell Education endowment, Pension, Group Life and Loan protection while SONARWA General Sell Motor Insurance, Fire insurance, Transport of goods and cash in transit.

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SPONSORED: RSSB take over SONARWA