Overview
SONARWA Life Assurance Company Limited (SONARWA Life) is a public Limited Liability company registered under the laws of Rwanda and licensed by the National Bank of Rwanda to carry out the risk of underwriting business of Life Assurance & Pension management.
The company started in the year 2000 as a division SONARWA S.A. which is the first insurance company to be established in Rwanda (now SONARWA General, established in 1975) and became an independent registered entity in January 2011. Thereafter, new regulations required Life/Risk products to be separated from Long Term Savings.
This paved way for the New Pension law released in 2015 that required all the existing Provident Pension Schemes to either register as Occupational Pension Schemes or restructure existing schemes into Personal Retirement Saving Accounts - that SONARWA Life is also licensed to manage.
In May 2017, the Rwanda Social Security Board (RSSB) became the sole (100%) shareholder of SONARWA Life giving it an opportunity to leverage from its experience in managing pension schemes.
