The group was founded in Kenya in 1964 as the Kenya American Insurance Company Limited as part of the AIG Group of companies. In 1987, the organization changed its name to American Life Insurance Company (Kenya) Limited – ALICO Kenya. CfC Bank holdings acquired ALICO Kenya in 2004 and changed its name to CfC Life Assurance Company Ltd. In 2008, CfC Bank holdings merged with Stanbic bank forming CFC Stanbic Bank Holding which was now a subsidiary of the Standard Bank Group. This Converged CfC Life into a new international & dynamic group with Heritage Insurance.
In 2011, Liberty Holdings Limited became the strategic investor in CfC Life and Heritage with the listing of CfC Insurance Holdings on the Nairobi Securities Exchange through introduction.[3] This was a form of Demerger from CFC Stanbic Holdings which separated the banking and insurance business of the group.[4] Existing CFC Stanbic Holdings Shareholders were allocated shares in the newly listed company.[5] This was the first time a company was span off using the NSE
In 2012, The company changed its name from CFC Insurance Holdings to Liberty Kenya Holdings Limited [6] as a step of aligning the group to the Liberty Group corporate brand.
In 2014, Liberty Kenya Holdings made history again by being the first listed firm in Kenya to have a scrip issue.[7] This was a cash-retention strategy by the firm. The group announced that its life insurance subsidiary, CfC Life Assurance Company was re-branding to Liberty Life Assurance Kenya Limited with effect from October 28, 2014.
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