Insurance Regulatory Authority (IRA) Archives

The insurance industry in Kenya is struggling with low penetration. The sector is seeking innovation and adoption of technology to grow. www.theexchange.africa

Insurance industry to aggressively embrace technology and help expand access to insurance services

The insurance industry in Kenya has recorded an increase in the premiums underwritten between April and June 2019. Insurance premiums, assets, investments and shareholder fund all record growth.

Kenya’s insurance premiums hit US$1.13 billion mark

September 15, 2019

The insurance industry in Kenya has recorded an increase in the premiums underwritten between April and June 2019. The premiums ...

The Kenyan insurance sector has been rocked with controversies among them failure to meet contract obligations, exposing policy holders to risks rather than being cushioned as expected of indemnity. It has emerged that over ten insurance companies in Kenya are not paying claims, despite collecting billions in monthly premiums from their clients. There are 37 general insurance companies and 25 long term insurance companies, placing the total number of underwriters at 62.

Why Kenya’s insurance sector is “rotten”

by Chacha Mwita

June 27, 2019

Kenya's insurance sector has been rocked with controversies among them failure to meet contract obligations, exposing policy holders to risks ...

There’s no single Insurance company in Kenya that has complained of delayed premiums or in effect named any of those that could be delaying their premiums. They are simply not paying insurance claims because they have mismanaged their finances. It is also important to point out that since the entry of banks into the insurance field, Bancassurance in Kenya, a lot of bad blood has been created, mainly caused by the banks encroaching on and forcing clients to take up insurance with them. Banks never remit insurance premiums to insurance companies in Kenya unless when forced to do so. Any insurance company doing business with a bank can attest to this. They simply do not follow the insurance rules as stipulated.

The storm inside Kenya’s insurance sector

by Opinion

June 24, 2019

By Washington Ndegea In the year of our Lord Two thousand and Eighteen, the Treasury Secretary Henry Rotich strode to ...

Sanlam Kenya PLC, Non-bank financial services firm in Kenya, has outlined elaborate growth plans focusing on its insurance businesses. The firm which is also listed at the Nairobi Securities Exchange (NSE) will be seeking to accelerate growth from its Sanlam General Insurance and Sanlam Life Insurance subsidiaries by leveraging on local, regional, continental and multinational opportunities. Last March 2018, the Sanlam Group announced the completion of a US $1billion corporate acquisition of the North Africa headquartered insurance firm, SAHAM Finances.

Sanlam Kenya reveals secret weapon for 2019

by Chacha Mwita

January 18, 2019

NAIROBI, KENYA, JAN 18 — Non-bank financial services firm, Sanlam Kenya PLC, has outlined elaborate growth plans focusing on its ...

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Tag: Insurance Regulatory Authority (IRA)

Kenya’s struggling insurance industry turns to technology for survival

Kenya’s insurance premiums hit US$1.13 billion mark

Why Kenya’s insurance sector is “rotten”

The storm inside Kenya’s insurance sector

Sanlam Kenya reveals secret weapon for 2019

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Tag: Insurance Regulatory Authority (IRA)

Kenya’s struggling insurance industry turns to technology for survival

Kenya’s insurance premiums hit US$1.13 billion mark

Why Kenya’s insurance sector is “rotten”

The storm inside Kenya’s insurance sector

Sanlam Kenya reveals secret weapon for 2019

Sign up to our Newsletter

This Months Edition

Welcome Back!

Create New Account!

Retrieve your password

Africa's
Investment
Gateway