07-30-2012 11:08 AM CET - Business, Economy, Finances, Banking & Insurance

Resolution Health awarded Medical Insurance Provider of the Year 2012

Press release from: ADC African Development Corporation GmbH & Co. KGaA

ADC African Development Corporation GmbH & Co. KGaA ('ADC'), ISIN DE000A1E8NW9, a fast growing pan-African banking group focused on the frontier markets of sub-Saharan Africa is pleased to announce that its portfolio company, Resolution Health East Africa Limited (RHEAL), won two awards at the Kenyan annual insurance awards ceremony in Nairobi. RHEAL was the winner of the Medical Insurance Provider of the Year award and the runner up for the Training award in 2012.

Our congratulations go out to CEO, Peter Nduati and its team. RHEAL's 93% customer retention rate is a testament to the dedication to customer satisfaction, product development and service delivery.

RHEAL has over 60,000 active members and 450 medical service providers. Kenya has an established private health insurance market and a growing middle class which can afford private medical insurance. RHEAL intends to expand to other parts of East Africa in the near future. Over the last few years, RHEAL's premium growth has been in excess of 40% annually, exceeding the higher-than-average growth rate for the industry of approximately 25% annually.

About ADC
ADC African Development Corporation (ISIN: DE000A1E8NW9; Bloomberg: AZC.GR, www.african-development.com), a member of the Angermayer, Brumm & Lange Group (www.abl-group.de), was established in September 2007 and aims to become one of the leading banking groups in sub-Saharan Africa, active in corporate and retail banking and proprietary investments. The company's success is primarily due to its local management team, which follows international best practice principles to further develop its operational companies and implements conventional international processes to increase their profitability. As the second international emerging market investor in the world, ADC was integrated into the insurance solution offered by the Multilateral Investment Guarantee Agency ('MIGA'), a member of the World Bank Group, primarily due to its strong operational approach and adherence to the highest ethical standards. This insurance offers protection against a variety of political risks, in particular the risk of radical political change.

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