Catholic Insurance Firm in Kenya Set to Mark 15 Years of “diligent stewardship”

Pacis was incorporated in Kenya in October 2004 and licensed to do business in August 2005 following the blessing by the Archbishop of Nairobi, John Cardinal Njue.

The various Archdioceses, Dioceses, the Catholic Missionary Priests, and the Association of the Catholic Nuns together with affiliated institutions of the Church are the main sponsor of the Company.

“All profits made by the company go to the sponsor, the various arms of the Church, that then reinvest the money back into the community through numerous projects,” the information on the company’s website indicates.

The Finance Administrator and Procurator of the Archdiocese of Nairobi, Fr. Simon Ng’ang’a who sits as a Director in Pacis Insurance Company says the objective of the firm at its inception was to address the needs of the Church as is spelt out in the Code of Canon Law.

“The universal law that guides the Church 1284 talks about diligent stewardship just like the good steward who was entrusted with property and he took care of it,” Fr. Simon says.

More in Africa

Why Nigerian Muslim Donated Modern 400-seater Assembly Hall to Nigeria’s Oyo Catholic Diocese

Read the article

He adds, “As an administrator, a responsibility is given to a specific person so that in liaison with other people he may be able to take care of the temporal goods of the Church in order they are not damaged or lost.”

“One way of taking care of the goods of the Church is trying to mitigate the risks exposure and this is through having insurance contracts,” Fr. Simon further says.

Pacis Insurance company, the member of the Clergy of Kenya’s Archdiocese of Nairobi says, has responded to the needs of the universal Church by insuring all its properties including commercial buildings, residences and convents.

“We also insure our schools and even our hospitals and we also take care of the Priests within our jurisdiction by having medical care for them,” he says.

Dr. Samuel Kiruthu who chairs the board of Pacis Insurance Company said the Church-based institution was living to its vision “to be an icon of trust and reliability.”

“We have strived to do that for the last 15 years during which Pacis has experienced growth,” Dr. Kiruthu said, adding that the company started with a revenue of KES.12 million (US$120,000.00), which was meant to help the Catholic Church to sustain its activities of evangelization.

15 years later, Dr. Kiruthu says the company had closed with a revenue to Sh. 1.4 billion (US$140 million), giving it a large asset base.

“We have made several strides and during this time, it is important for us to sincerely thank our customers who have supported us, our staff, as well as Kenyans who continue to support this institution,” he said.

“We see a great future,” Pacis board chair said, and added, “This future will be guided by rolling out new products for insurance as we help Kenyans to mitigate risks and some of the products will be very simple and affordable.”

(Story continues below)

He said that going forward, the company would rely more on digital insurance. “The Future of Pacis is to bring transformation in the industry and we are doing this through innovation and technology.”

Dr. Kiruthu invited Kenyans to the celebration of the company’s 15 years’ anniversary, which will be take place at the Holy Family Basilica of the Archdiocese of Nairobi.

“We see a future in which we shall connect more and more with our customers as we try to know who really insures with us,” Pacis board chair said.

Agnes Aineah is a Kenyan journalist with a background in digital and newspaper reporting. She holds a Master of Arts in Digital Journalism from the Aga Khan University, Graduate School of Media and Communications and a Bachelor's Degree in Linguistics, Media and Communications from Kenya's Moi University. Agnes currently serves as a journalist for ACI Africa.