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 Court sitting at Malindi on 9th June 2022.
In a gazette notice, the Deputy Registrar, Malindi High Court, said any creditor or contributory of the said company seeking to support or oppose the said petition may appear at the time of the hearing in person or through an advocate for that purpose.
The Deputy Registrar will furnish a copy of the petition to any creditor or contributory of the said firm requiring such a copy on payment of a regulated charge for the same.
This petition has been drawn and filed by Wambua Kilonzo & Company Advocates.
Xplico Insurance has been a subject of classical boardroom battles, all happening under the regulator’s watchful eye for close to a decade.
The underwriter has seen its market share in the public service vehicles(PSV) business eroded as close competitors gradually edge it out.
The underwriter’s website, now under maintenance, describes Xplico Insurance as offering insurance solutions to individuals and businesses, including the SME sector and the larger corporate market in Kenya and the wider East African region.
Its products include covers in areas of micro-health, sports, travel, aviation, marine, trade & credit and structured finance, with head offices located at Park Place, 2nd Avenue, 5th Floor, Parklands, Off Limuru Road, Nairobi.
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