▁was ▁largely ▁the ▁result ▁of ▁risk - a verse ▁foreign ▁invest ors ▁sh unning ▁the ▁IP O ▁because ▁of ▁the ▁Euro zone ▁crisis ▁and ▁a ▁sl ugg ish ▁U . S ▁economy . ▁Brit am ▁In sur ance ▁Company ▁( S outh ▁Sud an ) ▁Limited ▁was ▁incorpor ated ▁in ▁February ▁ 2 0 1 2 ▁and ▁is ▁lic ensed ▁to ▁under write ▁all ▁classes ▁of ▁life ▁and ▁non - life ▁ins urance . ▁In ▁R w anda , ▁Brit am ▁In sur ance ▁Company ▁( R w anda ) ▁Limited , ▁was ▁incorpor ated ▁and ▁lic ensed ▁in ▁ 2 0 1 3 ▁by ▁the ▁National ▁Bank ▁of ▁R w anda . ▁ ▁On ▁ 9 ▁December ▁ 2 0 1 3 , ▁the ▁British - American ▁In vest ments ▁Company ▁entered ▁into ▁a ▁definit ive ▁Share ▁P urchase ▁Ag re ement ▁with ▁Royal ▁N ga o ▁Hold ings ▁to ▁ac quire ▁its ▁ 9 9 ▁percent ▁share hold ing ▁in ▁Real ▁In sur ance ▁Company ▁Limited , ▁ ▁a ▁deal ▁that ▁was ▁val ued ▁at ▁K Sh 1 . 4 ▁billion ▁( appro xim ately ▁US $ 1 6 ▁million ▁then ). ▁ 6 0 % ▁of ▁the ▁sales ▁price ▁was ▁paid ▁in ▁c ash ▁and ▁ 4 0 % ▁was ▁paid ▁by ▁issu ance ▁of ▁new ▁shares ▁in ▁British - American ▁In vest ments ▁Company . ▁Real ▁In sur ance ▁was ▁lic ensed ▁ins urer ▁carrying ▁out ▁General ▁ins urance ▁business ▁in ▁Ken ya , ▁T anz ania , ▁Mal