Old Mutual, Absa Bank Launch Insurance Product for SMEs
Financial services conglomerate Old Mutual Kenya has partnered with Absa Bank Kenya to launch an insurance product for SMEs, the two companies said on Wednesday. The package will also include [...]
NCBA Group Acquires Insurer AIG Kenya
NCBA Group has announced the completion of its 100% acquisition of AIG Kenya Insurance Company Limited (AIG Kenya) from its parent company AIG Group, Inc. NCBA plans to tap into [...]IRA Dismisses Reports on Closure of Directline Assurance
The Insurance Regulatory Authority (IRA) has dismissed reports on the closure of Directline Assurance company, terming them illegal. “The Insurance Regulatory Authority (the Authority) has taken note of communication released [...]Xplico Insurance's Statutory Manager Caps Compensation at KShs 250,000 per Claim
The Policyholders Compensation Fund (PCF) has started the process of compensating the clients of Xplico Insurance- which is under statutory management- with the maximum amount capped at Kshs 250, 000 [...]Insurance Regulator Blacklists Atlas Life Insurance
The Insurance Regulatory Authority (IRA) has said it does not recognise the services of Atlas Life Insurance, a foreign insurance company that has been selling life insurance products in the [...]Absa Life Assurance Posts 90% Jump in Profits to KSh 862m
Absa Life Assurance Kenya (Absa Life), an Absa Group subsidiary, has reported an increase in gross profit to KSh 862 million in 2023. “Absa Life continues to maintain a healthy [...]
Sanlam Kenya Suffers Net Loss of KSh 127 Million in 2023
Sanlam Kenya Group, an insurance, investment, and retirement firm has reported a net loss of KSh 127 million for the full year ended 31st December 2023 compared to KSh 83 [...]Jubilee Health Insurance Profit Up 29% to KSh 438 Million
Jubilee Health Insurance net earnings for the financial year 2023 increased 29 per cent to KSh 438 million up from KSh 339 million during a similar period last year. Speaking [...]Britam's Net Profit Jumps to KSh 3.3 Billion for Full Year 2023
Britam Holdings Plc has posted a KSh 3.3 billion net profit for the year ended 31 December 2023, from the KSh 1.7 billion recorded in the previous financial year ended [...]Xplico Insurance's Liquidation Petition to Come Up in May
A petition seeking the liquidation of Xplico Insurance company will be heard on 7 May 2024, according to Kenya Gazette notice dated 22 March. Before its troubles, Xplico was a [...]Smallholder Farmers on Insurance-Backed Loans Less Likely to Default- Study
Embedding insurance into loans boosts financial resiliency and improves healthcare access for Africa’s unbanked population while simultaneously de-risking lending portfolios, according to a new report by Turaco, a pan-African insurtech. [...]Collapsed Insurer Resolution Insurance Gets Liquidator to Oversee Claims
The creditors of financial challenged insurer, Resolution Insurance Company could soon make progress on their unsettled claims following the naming of an interim liquidator to begin the process. The firm [...]
