Kenyan Micro-Insurtech Startup, Turaco, Raises $2 Million in Seed Funding
Kenyan micro-insurtech startup, Turaco, has raised $2 million in seed funding as it seeks to expand further into Sub-Saharan Africa. Investors who took part in the funding include Novastar Ventures, [...]
Kenya’s insurance premiums rise 7% to KSh 231.3 Billion
Kenya’s insurance sector's total underwritten premiums increased by 7.03% to KSh 231.3 Billion at the end of 2019. This level compares to KSh 216.11 Billion in the prior year. Association [...]
Kenya's Insurance Sector Net Profit Hits KSh 15.1 Billion
The Net Profit of Kenya's insurance industry grew by 108.0% to KSh 15.12 Billion at the end of 2019, boosted by an increase in the sector's investment income. This is [...]Paul Muthaura Named CEO at ICEA LION General Insurance
The Board of ICEA LION General Insurance has named Paul Muthaura (MBS), as the new Chief Executive Officer. He replaces the long-serving Steven Oluoch, who has left the organization upon [...]Jubilee Holdings Partners with Allianz Africa in KSh10.1 Billion Deal
Jubilee Holdings Limited (JHL) has entered into a set of agreements with Allianz Africa Holding GmbH (Allianz) with respect to Jubilee’s subsidiaries engaged in short term general (property and casualty) [...]
Sanlam Reports KSh 99 Million Loss in H1 2020 as Expenses Rise
Sanlam Kenya PLC has reported a loss of KSh 99.14 million in 2020 H1, down from a profit of KSh 639.67 million in the same period last year. The losses [...]Britam General Insurance Appoints Jackson Theuri as New CEO
The Board of Directors of insurance underwriter, Britam, has appointed Jackson Theuri as the new Chief Executive Officer of Britam General Insurance Company Limited. Theuri, who joined the firm two [...]LeapFrog Africa to Acquire 24% Stake in ICEA Lion
ICEA Lion Insurance Holdings has entered a partnership with LeapFrog Strategic Africa Investment (LSAI), which will see LSAI acquire 24% shareholding in ICEA Lion. An announcement from ICEA Holdings Chairman [...]New Twist as Nairobi Hospital Suspends Jubilee Insurance over KSh357 Million Debt
Nairobi Hospital has suspended its services for Jubilee Insurance card holders, citing unpaid debts of up to KSh357 million that have accrued over a period of three years (since 2018). [...]How to Claim Income Tax Reliefs for Your Insurance
The inevitable things in life are income tax and death. In ancient times, taxes were levied, but today we need to pay taxes for every item as non-payment can lead [...]CIC Group Appoints Patrick Nyaga as its New CEO
The Board of CIC Insurance Group has announced the appointment of Mr Patrick Nyaga as the Group Chief Executive Officer with effect from 22nd June, 2020. Mr Nyaga, who, has [...]Kenya Re Projects 5% Revenue Decline from COVID-19
Reinsurer, Kenya Re, expects to lose KSh1 billion in revenue from growing claims and rebates on premiums due to the pandemic. According to the Company Managing Director, Jadia Mwarania, the [...]
