IRA Places Xplico Insurance Under Statutory Management
The Insurance Regulatory Authority. (IRA) has placed Xplico Insurance under statutory management and appointed the Policyholders Compensation Fund (PCF) as the Statutory Manager for Xplico Insurance Company Limited. Troubles for [...]
Britam Appoints Judy Rugasira Kyanda as Non-Exec. Director
Britam Board of Directors has appointed Judy Rugasira Kyanda as an independent non-executive director. She has engaged with boards both at management and leadership levels, having shared as chair of [...]CIC Insurance to Downsize Workforce by 10%
CIC Insurance Group Plc, a leading insurance firm listed at the Nairobi Securities Exchange (NSE), has begun a staff rationalization program that will see it reduce its workforce by 75 [...]Sanlam and Allianz Merger in Africa Takes Effect
In a move aimed at strengthening their presence on the African continent, Sanlam Limited and Allianz SE have announced the creation of the Sanlam Allianz Africa joint venture after receipt [...]
Britam Holdings HY 2023 Net Profit up 300% to KSh 1.6 billion
Britam Holdings Plc recorded a rise in half-year net profit to KSh 1.6 billion at the close of the six-month period ended 30th June 2023 from KSh 377.9 million in [...]Insurance Firms in Kenya Sell Covers Worth KSh 312 Billion in 2022 Report
Insurance firms in Kenya underwrote premiums worth KSh 312 billion in 2022 up from KSh 275 billion in 2021, according to the latest data from the Association of Kenya Insurers [...]Liberty Kenya Holdings Plc Appoints Kieran Godden As New CEO
Liberty Kenya Holdings PLC has announced the appointment of Kieran Godden as Group Chief Executive and director of the Company, effective August 1, 2023. He replaces Godfrey Kioi who was [...]ATIDI Insures EUR 300 Million Loan for Tanzania’s Projects
African Trade and Investment Development Insurance(ATIDI) has insured a EUR300 million loan facility issued by Deutsche Bank AG to the Government of Tanzania.The facility will finance several infrastructure projects included [...]ATIDI holds its 23rd AGM in Rwanda
The African Trade Investment Development Insurance (ATIDI) held its 23rd Annual General Meeting (AGM) in Rwanda last week from 5th to 7th July 2023, changing its commercial name from [...]Micro Insurance Companies in Kenya Rise to 22 in 2022 AKI Report
Micro insurance underwriters in the Kenyan market increased in number from 11 in 2015 to 18 in 2022, implying potential for growth. According to findings of a study done by [...]Male Spends More On Health Insurance, says KNBS
The counties of Laikipia, Kiambu, Nairobi and Nyeri are leading in health insurance uptake showing caution residents take in unforeseen expenditure associated with illnesses. The absorption of any type of [...]Invesco Assurance Company Put on liquidation Due to Millions in Unpaid Claims
Invesco Assurance Company, which provides insurance policies for public service vehicles, has been forced into liquidation due to its failure to pay out claims amounting to millions of shillings. In [...]
