Barclays bank of Kenya has launched a new Marine Insurance that covers the damage of goods in transit from overseas.
The Bank’s diversification strategy will be offered through its subsidiary in the new proposition. The bank has partnered with the First Assurance bank to ensure the success of the new launch.
The new policy will cover the loss or damage of ships in transit as well as other risks involved during the transfer of goods from original point to various destinations.
“The launch of Marine Insurance will greatly boost our efforts towards providing all round financial solutions to our customers at one stop, the proposition will enable us to provide better financial support to our business and corporate clients”, said Mr. James Agin, the Director of Corporate and Investment Banking, Barclays Bank of Kenya.
Mr. Agin was speaking in Nairobi during the official launch of the new proposition saying that the launch marks a significant milestone in a journey that started years ago to allow the sale of insurance products through the bank’s outlets.
The Director added that this new development clearly demonstrates a working partnership that will continue to develop cutting edge financial solutions.
This partnership will also work with Kenya Trade Network Agency (KENTRADE) to facilitate services across the border trade which will provide an online platform where traders can buy Marine Insurance Policies.