Turaco, M-Kopa Tech-Insurance Cover Gains One Million Subscribers In a Year
Turaco and M-Kopa’s tech-Insurance cover targeting everyday earners not able to access alternative products offered by big players in the private health insurance industry has gained one million customers in a [...]
High Court Appoints Liquidator for Xplico Insurance
Diana Nduku Mumo has been appointed interim liquidator of Xplico Insurance, marking a significant step in the troubled insurer’s long-running financial woes. “From the evidence contained in the supporting affidavit, [...]Sanlam Share Price up 11% After First Profit in 5 years
Sanlam’s share price jumped 11.4% on Thursday after reporting an increase in net profit to KSh 1.05 billion in 2024 from a loss of KSh 126.6 million in 2023. “The [...]Court Orders Return of KSh 36mn in Resolution Insurance's Liquidation
The High Court has ruled that the Policyholders Compensation Fund (PCF) must return Kshs. 36 million to the estate of Resolution Insurance, after determining that the withdrawals made from the [...]Importers Now Have to Get Marine Cargo Insurance from Local Firms
Starting February 14th 2025, all Kenyan importers are expected to get Marine Cargo insurance from local firms to cover their commodities. “The move will streamline the process and ensure that [...]Small Businesses Warm Up to Insurance Against Political, Economic Risks-Survey
Small and Growing businesses (SGBs) are increasingly taking insurance against political and economic risks as a hedge against loss of revenue and property, a new survey by WYLDE International and [...]Allianz to Increase Stake in Sanlam Kenya
Allianz Europe BV, part of the Allianz Group, a global leader in insurance and asset management, has announced its intent to increase its indirect shareholding in Sanlam Kenya Plc from [...]
Bancassurance Faces Headwinds as Claims Surge by 140%-AKI
Kenya’s bancassurance sector is facing profitability pressure from claims which have surged from Ksh6.6 billion in 2019 to Ksh14 billion last year. “This trend raises concerns about underwriting practices and [...]Podcast; Empowering Women in Finance: OESAI's Role in Driving Financial Inclusion
This episode focuses on the role of member-based organizations, like the Organization of Eastern and Southern Africa Insurance (OESAI), in promoting financial inclusion, particularly for women in the financial sector. [...]Insurance Regulator Places Invesco Under Statutory Management Again
The Insurance Regulatory Authority (IRA) has placed Invesco Assurance under statutory management for the second time in the insurer's 27-year history. “Insurance Regulatory Authority (IRA) has with effect from 14th [...]Evolution of Consumer Behavior in the Insurance Sector
In this episode, Nuru Mugambi, Chairperson of the Angaza Forum, and Patience Muvea, Chief Actuary at Liberty Life Kenya, discuss the transformative impact of the COVID-19 pandemic on consumer behavior [...]First Assurance Banks on Tailored Products, Tech to Boost Insurance Penetration
The rate of insurance uptake for businesses globally stands at 7%, and it is only 3% in Africa. It is even lower than the regional rate in Kenya, standing at [...]
