Equity Group to Set Up a Holding Company for its Insurance Business
Equity Group Holdings has announced plans to undertake long term insurance business in Kenya. Furthermore, the company is working on setting up a non-operating holding company to hold its insurance [...]
Fresh Bid to Shut AMACO Insurance
Barely weeks after a petition filed at the High Court to shut down AMACO Insurance was withdrawn, a fresh one has been lodged. In a notice published in the Kenya [...]
Kenya Lists Licensed Insurance Services Providers
The Commissioner of Insurance has published a list of licensed insurance firms that will engage in the business in 2020. In a notice signed by Godfrey K. Kiptum, Commissioner of [...]Octagon Africa Signs Strategic Partnership with Alexander Forbes
LISTEN TO ARTICLE A new strategic partnership has been entered into under which Octagon Africa will serve Alexander Forbes multinational clients with a presence in Kenya.This strategic partnership comes after [...]
Insurers Blacklist Nairobi Women's Hospital Over Costs Inflation
A consortium of insurers has suspended credit services at Nairobi Women's Hospital (NWH). The Association of Kenya Insurers CEO, Tom Gichuhi, says they agreed during a meeting on Monday to [...]Jubilee Holdings Lays off 52 Workers
Jubilee Holdings has announced plans to lay off 52 of its employees, claiming that their roles have become redundant. The move comes after the firm split its business into two; [...]Concord Insurance Claimants to Receive KSh 467.3 Million
The Policyholders Compensation Fund (PCF) will settle claims amounting to KSh 467,309,798 to claimants of Concord Insurance, one of the underwriter that faces liquidation. Some 1,572 policyholders of this insurance [...]KSh 4 Billion Indemnity for Policyholders
Individuals and firms who took policy covers in financially troubled insurance firms and failed to receive their dues will get KSh 4.3 billion compensation from the government. This follows recent [...]Britam's Stephen Wandera Bows Out After 26 Years of Services
Britam PLC has announced the retirement of Stephen Wandera, the former Principal Executive Director. A company announcement reveals that Stephen hit the age 60 ceiling, after serving the company for [...]CIC Issues Profit Warning, Cites High Claims in Insurance Business
CIC Insurance Group has issued a profit warning for the financial year ending 31st December 2019. The insurance group projects that the company's profits will be more than 25% lower [...]New Law to Protect Policy Holders in Collapsed Insurers
The Insurance Act now has provisions to protect policy holders in the event that an underwriter is in financial distress and its assets have been put under statutory management. This [...]Claims Against Kenya’s Insurers Drop to KSh42.2 Billion
Insurance firms in Kenya incurred a total of KSh42.16 Billion in claims during the first nine months of this year. This is compared to KSh42.49 Billion in Q3 2018, representing [...]
