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APA APOLLO GROUP
APA Apollo Group, also known as Apollo Investments, began its journey in 1946 in Mombasa under the name IndoAfrica. Starting as a modest specialist life insurer, the company was founded on dedication, strategic vision, and commitment to excellence. These principles allowed it to steadily expand its scope and capabilities.
In 1963, the company rebranded as Pan Africa, marking a significant evolution. By 1977, Apollo Insurance Company was established, strengthening its insurance sector presence. A pivotal moment came in 2003 when Apollo Insurance and Pan Africa Insurance merged their general insurance businesses to form APA Insurance Kenya. This merger solidified the Group’s market position and enhanced its services.
Over the years, the APA Apollo Group has grown impressively, driven by a commitment to service, policyholder confidence, and sound management. Today, the Group is a comprehensive financial services provider, offering innovative products in insurance, pensions, and investments. APA Apollo Group is now one of East Africa’s leading providers of insurance and financial services.
The Group includes APA Insurance in Kenya and Uganda, APA Life Assurance, Apollo Asset Management, and Gordon Court. It also holds a share in Reliance Insurance in Tanzania. In Kenya, APA Apollo operates over 30 branches, highlighting its extensive reach.
In 2023, APA Insurance achieved a remarkable 21 % revenue growth, reaching KES 16.7 billion in insurance revenue, up from KES 13.8 billion in 2022. This increase solidified APA’s position as the leading general insurer in the region.
APA Apollo Group has consistently led the industry by developing innovative insurance products. For instance, APA Insurance was the first to offer HIV coverage in health insurance, a step no other insurer had taken. It took seven years for other companies to follow suit. Additionally, APA extended health insurance coverage to clients up to the age of 80, showing its commitment to inclusivity and comprehensive care.
During the COVID-19 pandemic in 2020, APA committed to covering full COVID-19 treatment costs up to the policy limit, while many insurers limited their payments. This action underscored APA’s dedication to robust client support during unprecedented times.
APA has also pioneered the agricultural insurance market in Kenya. In 2012, it introduced index-based livestock insurance (IBLI) with the International Livestock Research Institute (ILRI). For smallholder farmers, APA developed the area yield insurance index (AYII), providing a 70 percent yield guarantee. APA’s creation of the Kenya Agriculture Insurance Group (KAIG), alongside seven other insurers, was significant. These initiatives have covered over 2 million farmers and paid out more than USD 15 million in claims across 34 counties in Kenya.
Embracing the digital revolution, APA Apollo Group has implemented state-of-the-art technology to enhance operations and improve customer service. Online platforms and mobile applications make it easier for customers to access information, purchase products, and manage policies. Innovations like APA micro insurance and the APA hAPPiness app, which allows clients to purchase, review, and make claims, highlight the Group’s commitment to meeting evolving customer needs.
A cornerstone of APA Apollo Group’s success is its focus on customer satisfaction. The company understands that a satisfied customer is its best ambassador. APA has heavily invested in customer service training and support, ensuring every interaction reflects a commitment to excellence. In 2023, APA Insurance was recognised during Customer Service Week, securing the second runner-up position for the Customer Service Week Innovation Award, driven by its #DoItNow campaign.
of a mobile-enabled motor insurance App on May 19,2020.
The company’s success also relies on its highly skilled and motivated employees. Management’s strategic foresight and commitment to fostering a culture of innovation and excellence have been pivotal in maintaining the company’s competitive edge. The synergy between staff and management has been crucial in driving the company’s growth and upholding its reputation for reliability in financial services.
Notably, global partners such as SwissRe and Hollard International have enabled APA Apollo Group to leverage international expertise and resources, enhancing its offerings.
In 2019, APA became the first insurance company to win the European Microfinance Award for Strengthening Resilience to Climate Change. This recognised APA’s initiatives to bolster resilience to climate change, especially for smallholder farmers and pastoralists. The Group’s achievements also include winning the 2020 FiRe (Financial Reporting) Awards in the insurance sector and securing twelve awards at the 2023 AKI (Association of Kenya Insurers) Awards.
Looking ahead, APA Apollo Group remains committed to being East Africa’s leading financial services provider. The Group’s focus includes further regional expansion, continuous innovation, and a heightened emphasis on customer service and social responsibility through the APA Apollo Foundation. Aligning with 11 Sustainable Development Goals (SDGs), the Group supports initiatives like building sand dams for year-round water supplies.
The unprecedented growth and success of APA Apollo Group steadfastly represents the visionary leadership of Managing Director (MD) Ashok Shah; one of the most respected insurance industry thought leaders.
As the Group adapts to changing landscapes, it remains poised to maintain its leadership in East Africa’s financial sector for years to come.
