Sonarwa General Historical

Historical

Commencement of Operations : On August 1st, 1975 SONARWA G.I. commenced
operations under the management of a U.K. based company called J.H. Minet.
Initial Capital Increase : In 1980, SONARWA’s sharecapital increased from
50,000,000 Rwf to 400,000,000 Rwf.
Further Capital Increase : In 1983, SONARWA’s sharecapital rose from Rwf 400,000,000
to Rwf 500,000, Expansion of SONARWA’s Network : The company began a nation-wide expansion
opening branches at Butare and Gisenyi in 1983, Cyangugu in 1985, Gitarama
in 1992 and Rwamagana in 1994. Further branches were opened at Gatuna,
Kagitumba , Rusumo in 1995, Nyabugogo in 2004, UTC, Remera in 2007, Magerwa in 2008,
Kimironko and Kinamba in 2010 and Giporoso in 2011 .
Now, the Company has 19 branches.

1st August 2005  : SONARWA G.I. celebrated its 30th Anniversary and carried out
at the same occasion various strategic changes :,
Increase of authorised capital from Rwf 500 Million to Rwf 1,500 Billion.

R e-brandig of the Company including change of the logo and company’s colours.
Launching of the policy aiming to be the most capitalised Insurance Company through
right issue, to the local. and foreign private sector, to the detriment of government and
parastatal companies.

March 2008 : SONARWA G.I., concluded an equity strategic partnership with the
Nigeria’s leading insurance company, Industrial And General Insurance Plc, (IGI),
which acquired 35 % stake in SONARWA G.I.’s shareholding effective April 2008.
IGI Plc’s stake in SONARWA G.I. increased the company capital base with a
Shar eholders’ Funds now in excess of Rwf 3.5 Billion and Asset Base of more than
Rwf 14 Billion, making SONARWA G.I. the biggest and the most capitalized insurance
company in Rwanda.
October 2008 :SONARWA G.I. is ISO 9001-2008 (2005-2008)re-certified.

October 2010  : SONARWA G.I. is ISO 9001-2008 (2008-2011) re-certified.
December 2011 : Actuarial valuation of Life Assurance

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