The rapidly accelerating digital transformation of the financial services sector in Africa is forcing a fundamental shift in regulatory paradigms, particularly within the insurance industry. Kenya, a continental leader in technological adoption, is now taking a proactive stance, with the Insurance Regulatory Authority (IRA) preparing comprehensive new rules designed to strengthen cybersecurity, data protection, and […]

Kenya’s insurance landscape continues to reflect a deeply troubling pattern of inequality, with new data revealing that Nairobi and Kiambu counties maintain commanding leads in insurance uptake while several western and eastern regions lag dramatically behind, leaving millions of households exposed to financial devastation from health emergencies, accidents, and livelihood losses. This persistent disparity raises […]

Madison Life Assurance Limited has launched an aggressive campaign to revolutionize insurance accessibility in Kenya by specifically targeting the informal sector, a vast and largely untapped market segment that company executives believe holds the key to dramatically boosting the insurance industry’s contribution to the national economy. The initiative comes at a time when Kenya’s insurance […]

The Kenyan government is spearheading a transformative regulatory framework designed to revolutionize how farmers access financial protection against escalating climate-related disasters. Under proposed new rules, insurers offering weather-related policies would be legally required to settle claims within just 10 days—a dramatic acceleration that experts believe could fundamentally reshape agricultural insurance across Africa. This unprecedented initiative […]

NAIROBI, Kenya – In a landmark move that marks a significant milestone for Kenya’s aviation industry, Britam General Insurance has unveiled the country’s first-ever Pilot Loss of Licence Cover, a specialized insurance product designed to provide comprehensive financial protection to pilots and aviation trainees who face the career-threatening prospect of losing their medical clearance due […]

NAIROBI, Kenya – In a transformative move that signals AXA Global Healthcare’s long-term commitment to the African market, the global insurance leader has announced an exclusive distribution agreement with Executive Healthcare Solutions (EHS) for all international private medical insurance (IPMI) sold across Africa. The landmark partnership, which includes local underwriting by Old Mutual General Insurance […]

In a strategic move that significantly expands the business interests of the investors behind Kenya’s rapidly growing Quick Mart supermarket chain, Bima Holdings Ltd—an investment vehicle backed by Mauritius-based private equity firm Adenia Partners—has received regulatory approval from the Competition Authority of Kenya (CAK) to acquire full ownership of Minet (Mauritius) Holdings Ltd, a prominent […]

The Kenyan government has announced plans to significantly increase the mandatory proportion of insurance business that private insurers must cede to the state-controlled Kenya Reinsurance Corporation (Kenya Re), raising the requirement from the current 20% to 25% under new draft regulations set to take effect on January 1, 2026. This policy shift, unveiled through the […]

For years, insurance penetration in Kenya has languished at persistently low levels, hovering between 2.3% and 2.6% as of mid-2023—a figure that remains significantly below the global average of approximately 7% and reflects the broader challenges facing insurance markets throughout developing economies. This substantial gap between Kenya’s insurance uptake and international benchmarks highlights profound structural […]

Kenya’s Insurance Regulatory Authority (IRA) has officially approved the transfer of Sanlam General Insurance Limited’s general insurance portfolio valued at KSh 820.6 million to Jubilee Allianz General Insurance (K) Limited. The transaction marks a pivotal step in the completion of the SanlamAllianz Africa integration, uniting the general insurance operations of Sanlam and Allianz under a […]