Kenya's mTek Secures an Additional $3 Million Funding
Kenyan insurtech startup mTekhas secured an additional $3 million investment through both debt and equity fromAfrican-focused fintech platform, Finclusion Group. The investment seeks to accelerate mTek’s growth into the Kenyan [...]
Equity Group's Insurance Business Gets Boost from KSh400 Million Investment
Equity Group has invested KSh400 million in establishing a subsidiary that will run its insurance business as the listed firm seeks to diversify from the mainstay banking operation. According to [...]Madison Announces Plans to Quit the Annuity Business
Madison Life Assurance Kenya Limited has announced plans to sell properties valued at KSh8 billion and quit the annuity business, seeking to restructure its balance sheet and boost capital. The [...]Britam to replace Two Directors Next Month
Britam Holdings Plc, a listed diversified financial services group, is set to replace two directors when its shareholders meet on 8th June 2022. Mohammed S. Karama and Ms Marianne Loner, [...]
Xplico Insurance Company faces Liquidation Petition
Xplico Insurance Company Limited is faced with a liquidation petition filed by a creditor, Doris Mwaka Mwakwekwe, on March 17th 2022. This liquidation petition will be heard before the High [...]Resolution Policyholders to File Claims with PHCF
Resolution Insurance Policy holders begin submitting their claims to the Policy Holders Compensation Fund(PHCF) on Monday, 25th April 2022. The Fund is expected to verify and approve payments within a [...]CIC Insurance Group To Hold 43rd AGM Next Month
CIC Insurance Group Plc has issued a notice to shareholders of an upcoming Annual General Meeting(AGM) to be held electronically. The AGM will be held on Friday 13th May 2022 [...]Resolution Insurance Sinks with Kes 6.5 Billion Client's Funds
Resolution Insurance has collapsed with over kes 6.5 billion in client cash, insurance claims, and creditor funds after its shareholders failed to recapitalise the business. The company has been facing [...]
Jubilee Holdings to Construct KSh461 Million Headquarters in Tanzania
Jubilee Holdings is set to construct a KSh461 million headquarters in Dar es Salaam for its Tanzanian operations. Jubilee’s chairman Nizar Juma says the construction will see the company save [...]Insurance Companies and Brokers Fail to Remit Ksh 8.5 Billion- Kenya Re
Kenya Re has disclosed that insurance companies and brokers have failed to pay Sh 8.57 billion premiums, hurting the profitability of the insurance firm which has had to make provisions [...]UAP Insurance Records 24% Growth in Revenue to Ksh 13.8 Billion
UAP Insurance Kenya recorded a 24% growth in Gross Written Premium to kes 13.18 billion from kes 10.61 billion recorded in 2020 while the net earned premiums increased by 13 [...]Jubilee Declares Special Dividend of kes 1 Billion Backed by Profit Surge
The Board of Jubilee Holdings Limited announced a total dividend of Kes. 1.015 billion including a special dividend of Kes. 14.0 per share payable on the 25th of July 2022. [...]
