Chronology of Key EventsCommencement of Operations:
On August 1st , 1975 SONARWA s.a. commencedoperations 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 500,000,000.
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 R wamagana in 1994. F urther 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 Nyamirambo, Giporoso in 2011. Now, the Company has 26 branches.
28th July 2005 : SONARWA s.a. is ISO 9001 : 2000 certified for the 1 time.2005
: SONARWA s.a. celebrated its 30 Anniversary and carried out at the same occasion va r i o u s strategic changes: Increase of authorised capital from Rwf 500 Million to Rwf 1,500 Billion
Re-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 s.a., concluded an equity strategic partnership with the Nigeria's leading insurance company, Industrial And General Insurance Plc, (IGI), which acquired 35 % stake in SONARWA s.a.’s shareholding effective April 2008.
IGI Plc's stake in SONARWA s.a. 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 s.a. the biggest and the most capitalized insurance company in Rwanda.
October 2008 : SONARWA s.a. is ISO 9001-2008 (2005-2008) re-certified.1st August 2010
: SONARWA s.a. celebrated its 35th Anniversary.
4th October 2010 : SONARWA s.a. is ISO 9001-2008 (2008-2011) re-certified.December 2011
: Actuarial valuation of Life Assurance.
INSURE WITH SONARWA
Rwanda’s Insurer of First Choice