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| Filename | Radiant-Insurance-Public-Credit-Report-Nov-2023.pdf |
| Filesize | 300.92 KB |
| Version | paid report |
| Date added | November 2, 2023 |
| Category | Credit Rating Reports, Insurance |
| Tags | Rwanda |
Radiant Insurance Company Limited (Radiant Insurance) is a private insurer, owned by nine individuals, with the entry of four new shareholders in 2020 diluting the two largest interests to 25% each (2019: 30% each). The shareholding structure of the insurer remained unchanged as at 31 December 2022 after a capital increase of RWF2.5bn to acquire the the company’s headquarters which is still under construction. Radiant Insurance was licensed in January 2013 by the National Bank of Rwanda (NBR) to offer short-term insurance products. The entity started operations since then and pioneered microinsurance in Rwanda, with the introduction of agriculture insurance in 2019. In 2020, it created Radiant Yacu Limited (Radiant Yacu), a subsidiary which is the only microinsurance company in the country. Nonetheless, the entity is not part of a group, hence its rating was conducted using a standalone approach.