Insurance Companies in Kenya
Insurance Companies in Kenya: Kenya has 44 insurance companies – two are under receivership. The Insurance Industry in Kenya is regulated by the Insurance Regulatory Authority (IRA), a semi-autonomous regulator, set up in 2008. IRA is expected to improve regulation and stability of the industry.
In 2011, IRA placed another underwriter, Blue Shield Insurance, under administration. The Authority, in partnership with the Commissioner of Police, created the Insurance Investigation Unit to investigate insurance fraud. It also registered the first Islamic insurance firm, First Takafu.
Previously, IRA was a department of the Ministry of Finance, which administered the insurance industry, and it was headed by the Commissioner of Insurance, who is today at par with other regulatory authority heads. The Finance Act 2011 boosted the power of the Authority through amendments to the Insurance Act that substituted the word “minister” with “Authority’
Insurance in Kenya – Insurance Industry in Kenya
The Insurance industry in Kenya operates under an umbrella body, the Association of Kenya Insurers (AKI), which was established in 1987. Before then, it was called the Insurance Association of Eastern Africa. Membership is open to any registered insurance company. Its main objective is to promote prudent business practices, create awareness among the public and accelerate the growth of insurance business in Kenya.
At the apex of the insurance sector in Kenya are two reinsurance companies, the quasi-public Kenya Reinsurance Corporation (Kenya Re) and East African Reinsurance Company. By 2010, short and long-term underwriters were 44, of which 21 provide medical insurance. Others are 3,788 insurance agents and 158 insurance brokers.
The Kenya Insurance industry’s assets grew by 2.1 percent to Kshs181.2 billion ($2.132 billion). Net premiums rose by 33.1 percent to Kshs85.4 billion ($1.005 billion) and general insurance claims by 30 percent to Kshs28.l billion ($330.6 million).
Under the 2011 amendments to the Insurance Act, an insurer wishing to open a branch or a new place of business in Kenya, or to change the location of a branch, or an existing place of business, applies to the Authority for approval.
IRA now holds directors of the insurer to be jointly and severally liable for the recovery of the assets in case of mismanagement. The Authority was also given powers to manage assets of an insurance company in the public interest and take any other action in this regard.
Insurance Companies in Kenya
1. Xplico Insurance Company Limited
Category: Insurance Companies in Kenya
Xplico Insurance Company Limited is a specialist insurance company set up to competitively underwrite both exiting risks in the market as well as new risks currently not underwritten. Xplico Insurance Company Limited provides insurance solutions to individuals and businesses including the SME sector and the larger corporate market in both Kenya and the wider East African region.
For more information please visit: Xplico Insurance Company Limited
2. UAP Life Assurance Limited
Category: Insurance Companies in Kenya
UAP Life Assurance Limited is a Pan-African Financial Services company with interests in Insurance, Investment Management, Property Investment, Financial Advisory, and Securities Brokerage. Currently, UAP Life Assurance Limited has 12 businesses operating in Kenya, Uganda, South Sudan, Rwanda, Tanzania, and DR Congo. UAP Holdings is the holding company for the various UAP businesses.
For more information please visit: UAP Life Assurance Limited
3. UAP Insurance Company Limited
Category: Insurance Companies in Kenya
Financial Advisory and Securities Brokerage. Currently, UAP has 12 businesses operating in Kenya, Uganda, South Sudan, Rwanda, Tanzania, and DR Congo. UAP Holdings is the holding company for the various UAP businesses.
For more information please visit: UAP Insurance Company Limited
4. Trident Insurance Company Limited
Category: Insurance Companies in Kenya
Trident Insurance Company Limited was established in 1979 when we obtained our license to underwrite general (non-life) insurance risks. Today, the London market remains one of our important overseas sources of reinsurance capacity.
During the Trident Insurance Company Limited history, Trident has been majority-controlled by well respected Barbadian conglomerates such as the former Plantations Trading Company Limited. From 1993 to 1997, the Barbados Mutual Life Assurance Company (The Mutual), now known as Sagicor, was the majority shareholder in Trident.
For more information please visit: Trident Insurance Company Limited
5. The Heritage Insurance Company Limited
Category: Insurance Companies in Kenya
The Heritage Insurance Company Limited we pride ourselves with prompt Claims payment. We offer wide insurance products including Motor Insurance, Travel Insurance, Agricultural Insurance, Medical Insurance, Terrorism cover, Domestic Insurance, Personal Accident, Professional Indemnity, Sportsman’s cover among others. Having a strong focus to “deliver beyond the promise” and to ensure high customer satisfaction, The Heritage Insurance Company Ltd is one of the best insurance companies in Kenya. We are located at Liberty House along Mamlaka Road.
For more information please visit: The Heritage Insurance Company Limited
6. Monarch Insurance Company Ltd
Category: Insurance Companies in Kenya
The Monarch Insurance Company Ltd boasts of over 30 years’ experience in insurance underwriting in Kenya. It was established to meet the rising demand for insurance services in Kenya, on the backdrop of a growing economy and an increase in demand for specialist insurance services.
For more information please visit: Monarch Insurance Company Ltd
7. Jubilee Insurance
Category: Insurance Companies in Kenya
From humble beginnings in 1937, Jubilee Insurance Kenya has spread its sphere of influence throughout the region to become the largest multi-line insurer in East Africa, handling both long-term and short-term insurance. With a network of offices spanning Kenya, Uganda, Tanzania, Burundi and Mauritius, our reach in the region is second to none.
For more information please visit: Jubilee Insurance
8. Tausi Assurance Company Limited
Category: Insurance Companies in Kenya
Tausi Assurance Company Limited was established during a quiet day in seven shareholders got together and formed Tausi Assurance Company limited. The Tausi Assurance Company Limited opened its doors quietly but confidently for business in 1993 in Westlands, with a Paid-up capital of Kshs 20million and a staff of nine. Not many companies in the market have experienced the kind of growth that Tausi has demonstrated since its birth eighteen years ago.
For more information please visit: Tausi Assurance Company Limited
9. Takaful Insurance of Africa Ltd
Category: Insurance Companies in Kenya
Takaful Insurance of Africa Ltd (TIA), is a pioneering and dynamic Takaful company which has introduced a new and exciting ethical perspective to risk management in the Kenyan market.
Takaful Insurance of Africa Limited was founded in the year 2008 and formally licensed in 2011, TIA is the first fully-fledged Takaful operator in the East and Central Africa region.
For more information please visit: Takaful Insurance of Africa Ltd
10. Shield Assurance Company Limited
Category: Insurance Companies in Kenya
Shield Assurance Company Limited was formed in 2009, after a demerger from Blueshield Insurance Company Ltd. A new law enacted in that year required all-composite insurance companies to demerge.
For more information please visit: Shield Assurance Company Limited
11. Resolution Insurance Company Limited
Category: Insurance Companies in Kenya
Resolution Insurance Company Limited entered the Kenyan market in 2002 (as Resolution Health East Africa), the first company to be registered as a Medical Insurance Provider (MIP). Resolution Insurance Company Limited was recognized as Medical Insurance Provider of the Year in 2012 in the Think Business Insurance Awards.
For more information please visit: Resolution Insurance Company Limited
12. Real Insurance Company Limited
Category: Insurance Companies in Kenya
Real Insurance Company Limited provides non-life insurance services. It offers fire and allied perils, fire consequential loss, burglary, public/product liability, group personal accident, money in transit, fidelity guarantee, marine/goods in transit, work injury benefits policy, and all risks insurance products; machinery breakdown, machinery loss of profits, computer and electronics, and contractors all risks insurance products; insurance products for small and medium enterprises; and commercial and private motor fleets insurance.
For more information please visit: Real Insurance Company Limited
13. Pioneer Assurance Company Limited
Category: Insurance Companies in Kenya
Pioneer Assurance Company Limited has for over 80 years provided Kenyans with financial security and peace of mind. It has remained strong and provided high-quality insurance services despite the many economic changes and challenges that Kenya has gone through.
For more information please visit: Pioneer Assurance Company Limited
14. Pan Africa Life Assurance Limited
Category: Insurance Companies in Kenya
Pan Africa Life Assurance Limited was created in 1946 as a subsidiary of Pan Africa Insurance Holdings to tap into the largely under-developed life assurance market in Kenya. Has over sixty-seven years of heritage, significant footprint in the Kenyan market with 16 branches across the country supported by over 120 permanent staff and over 600 financial advisors. Has two major business lines: Group Life and Individual Life assurance. Pan Africa Life’s financial services include Life assurance, Investments, Education, Funeral/Last Expense, Credit life, Mortgage protection, Accident & Disability, Retirement, and Pensions fund Management.
For more information please visit: Pan Africa Life Assurance Limited
15. Phoenix of East Africa Assurance Company Limited
Category: Insurance Companies in Kenya
Phoenix of East Africa Assurance Company Limited was established in 1912, and it boasts of a wide market presence in East and Southern Africa. This gives it a unique perspective of the insurance markets in this region. The company underwrites various classes of general insurance and offers risk management services to its clients.
For more information please visit: Phoenix of East Africa Assurance Company Limited
16. Pacis Insurance Company Limited
Category: Insurance Companies in Kenya
The Catholic Church mooted the idea of the formation of Pacis Insurance Company Limited (Pacis) in 1997. This was after the realization that the church needed to have a sustainable avenue of raising funds to support her projects. Pacis was incorporated in Kenya in October 2004 and licensed to do business in August 2005.
For more information please visit: Pacis Insurance Company Limited
17. Old Mutual Life Assurance Company Limited
Category: Insurance Companies in Kenya
Old Mutual Life Assurance Company Limited was Incorporated in 1845, Old Mutual Life Assurance Company Ltd is indeed one of the oldest insurance companies in the world. The company has an interest in various parts of the world including South Africa, Nigeria, the UK, and the USA. It is listed in both the Johannesburg Stock Exchange (JSE) and the London Stock Exchange.
For more information please visit: Old Mutual Life Assurance Company Limited
18. Occidental Insurance Company Limited
Category: Insurance Companies in Kenya
Occidental Insurance Company Limited was incorporated in 1984 and started transacting insurance business in 1987. During the first year, the company did a gross premium of Kshs. 9 million rising steadily to a premium of over one billion shillings in 2010.
The first branch in Mombasa was opened in March 1990. At the close of the year 2010, the branch secured the business of Kshs. 400 Million.
For more information please visit: Occidental Insurance Company Limited
19. Metropolitan Life Insurance Kenya Limited
Category: Insurance Companies in Kenya
Metropolitan Life Insurance Kenya Limited is a subsidiary company of MMI Holding Limited, a leading insurance-based financial services company listed on the South African stock exchange in Johannesburg, the JSE. Created from the merger of Metropolitan Holdings and the Momentum Group, MMI is one of the largest insurers in South Africa, employing over 15 650 people. With the combined footprint, MMI is represented in 12 African countries outside South Africa.
For more information please visit: Metropolitan Life Insurance Kenya Limited
20. Mercantile Insurance Company Limited
Category: Insurance Companies in Kenya
Mercantile Insurance Company Limited was established in 1993 as a composite insurance company. A highly diversified company, it offers all types of non-life insurance: fire, marine, motor car, personal accident, miscellaneous casualty, aviation, engineering, surety and other kinds of bonds.
For more information please visit: Mercantile Insurance Company Limited
21. Mayfair Insurance Company Limited
Category: Insurance Companies in Kenya
Mayfair Insurance Company Limited was Incorporated in 1995, Mayfair Insurance Company Limited registered with the Department of Insurance in October 2005 and has since been in fully-fledged operations of underwriting General Insurance business.
Initially targeting the Kenyan market with branches in Nairobi and Mombasa, the Mayfair Insurance Company Limited has grown and expanded its presence in the African continent and has a branch in Lusaka, Zambia since 2010.
For more information please visit: Mayfair Insurance Company Limited
22. Madison Insurance Company Kenya Limited
Category: Insurance Companies in Kenya
Madison Insurance Company Kenya Limited (Madison) is a locally owned insurance company in Kenya. It was incorporated under Kenyan Laws in 1988 after a successful merger between Crusader Plc (1974) and Kenya Commercial Insurance Corporation.
For more information please Visit: Madison Insurance Company Kenya Limited
23. Kenya Reinsurance Corporation Limited
Category: Insurance Companies in Kenya
Kenya Reinsurance Corporation Limited (Kenya Re) is the oldest Reinsurer in Eastern and Central Africa. It was established through an Act of Parliament in December 1970 and commenced business on January 1971. Kenya Re’s core activity is providing reinsurance services for most classes of business.
For more information please visit: Kenya Reinsurance Corporation Limited
24. Kenya Orient Insurance Limited
Category: Insurance Companies in Kenya
Kenya Orient Insurance Limited is a leading general insurance company registered in Kenya that has been in operation for more than 30 years. Kenya Orient Insurance has 13 branches, a staff base of over 140 people with an annual turnover in excess of 1.45 billion Kenya shillings.
For more information please visit: Kenya Orient Insurance Limited
25. Kenindia Assurance Company Ltd
Category: Insurance Companies in Kenya
Kenindia Assurance Company Ltd was formed in 1978 when several Indian Insurance companies operating in Kenya decided to merge to form one unit. The company currently provides a wide portfolio of insurance products in the general insurance segments.
For more information please visit: Kenindia Assurance Company Ltd
26. Invesco Assurance Company Limited
Category: Insurance Companies in Kenya
Invesco Assurance Company Limited was placed under Statutory Management on 28th February 2008 and after intense restructuring emerged from Statutory Management on 18th Jan 2010.
The Company is licensed to transact all lines of the general insurance business.
For more information please visit: Invesco Assurance Company Limited
27. Intra Africa Assurance Company Ltd
Category: Insurance Companies in Kenya
Intra Africa Assurance Company Ltd has been in the insurance business for 32 years. The company was incorporated on June 1977 and opened its doors for business on the 1st April 1979. Intra Africa has grown to now to 6 branches countrywide.
Intra Africa Assurance Company Limited begun operations in the seventies and has been growing steadily since. The company has evolved an adapted successfully to all the changes the sector has gone through in the last forty years. Intra Africa Assurance Company Ltd offers corporate and personal life assurance products.
For more information please visit: Intra Africa Assurance Company Ltd
28. ICEA Lion Life Assurance Company Limited
Category: Insurance Companies in Kenya
ICEA Lion Life Assurance Company Limited is a subsidiary of the ICEA Lion Insurance Holdings Limited, which was formed as a result of a merger between Insurance Company of East Africa Limited (ICEA) and Lion of Kenya Insurance Company Limited (LOK) in 2011.
For more information please visit: ICEA Lion Life Assurance Company Limited
29. ICEA LION General Insurance Company Limited
Category: Insurance Companies in Kenya
ICEA LION Kenya – ICEA LION General Insurance Company Limited is a subsidiary of the ICEA LION Insurance Holdings Limited, which was formed as a result of a merger between Insurance Company of East Africa Limited (ICEA) and Lion of Kenya Insurance Company Limited (LOK) in 2011.
For more information please visit: ICEA LION General Insurance Company Limited
30. Geminia Insurance Company Limited
Category: Insurance Companies in Kenya
Geminia Insurance Company Limited is a fully Kenyan owned Composite Insurance Company dealing in both life and general insurance. The Company offers various multi-benefit policies that cater to every aspect of insurance and investment planning while providing you with an umbrella of financial protection.
For more information please visit: Geminia Insurance Company Limited
31. First assurance company Limited
Category: Insurance Companies in Kenya
First assurance company Ltd is a composite insurer offers all classes of General, Medical and Group Life. The Company provides quality and affordable products that are the unique solutions to the clients need.
First Assurance Company Limited live up to the motto Security and Services hence have a partner to walk within times of accidents and tragedy.
For more information please visit: First Assurance Company Limited
32. Fidelity Shield Insurance Company Limited
Category: Insurance Companies in Kenya
Fidelity Shield Insurance Company Limited is a leading general insurance provider offering a wide range of products to cater to individuals, private corporate companies, small and medium enterprises, and governmental organizations and many more.
For more information please visit: Fidelity Shield Insurance Company Limited
33. East Africa Reinsurance Company
Category: Insurance Companies in Kenya
East Africa Reinsurance Company was incorporated in 1993 and commenced operations on 1st January of 1995. The company was formed through a joint initiative of local insurance companies in Kenya and the International Finance Corporation (IFC), the private sector arm of the World Bank.
For more information please visit: East Africa Reinsurance Company
34. Directline Assurance Company Limited
Category: Insurance Companies in Kenya
Directline Assurance Company Limited specializes in motor insurance and is a major player in PSV insurance. The company has developed special products for the PSV sector and is one of the most visible motor insurance firms. This company is reputed for its strong showing in the hugely competitive PSV insurance segment.
For more information please visit: Directline Assurance Company Limited
35. Corporate Insurance Company Limited
Category: Insurance Companies in Kenya
Corporate Insurance Company Limited was incorporated on 9th June 1982 and is licensed by the Insurance Regulatory Authority as a Composite Insurance Company transacting both life and general insurance business.
The Corporate Insurance Company Limited is locally owned by established business entrepreneurs with vast business interests in insurance, banking, and industry. The Company has a solid asset base and some of its assets include, Corporate Place- Nairobi, Corporate House-Mombasa and Villa De Corporate – Nairobi. Corporate Insurance Company Limited has its Head Office at Corporate Place, Kiambere Road, off Lower Hill Road, Upper Hill, Nairobi.
For more information please visit: Corporate Insurance Company Limited
36. Continental Reinsurance Limited
Category: Insurance Companies in Kenya
Continental Reinsurance is a pan-African composite reinsurer offering both Treaty and Facultative capacity and services across the full spectrum of Non-Life and Life business lines. Our clients enjoy unparalleled reinsurance underwriting, claims, advisory and training services.
For more information please visit: Continental Reinsurance Limited
37. CIC Life Assurance Limited
Category: Insurance Companies in Kenya
Currently, CIC offers a specialized group creditor life insurance policy customized to cover short-term loan balances on reducing balance basis for small scale businesses. This policy pays off the loan outstanding in the event that the insured borrower dies within the insurance period.
For more information please visit: Cic Life Assurance Limited
38. CIC General Insurance Limited
Category: Insurance Companies in Kenya
This subsidiary offers a wide range of general insurance products to cater to the various insurance needs of different market segments. The Company is committed to providing its customers with the best innovative products coupled with quality and efficient service.
For more information please visit: CIC General Insurance Limited
39. CFC Life Assurance Limited
Category: Insurance Companies in Kenya
CFC Life Assurance Limited provides life and health insurance products for individuals and corporate clients. Its products include ordinary life, group life, medical, pension, disability, income builder, term insurance, endowment assurance, education, and scholar and personal accident plans.
The company also provides mortgage, retirement and saving and investment plans. It offers its products through agents in Kenya. The company was founded in 1964 and is based in Nairobi, Kenya. CFC Life Assurance Ltd. operates as a subsidiary of CFC Bank Ltd.
For more information please visit: CFC Life Assurance Limited
40. Capex Life Assurance Company Limited
Category: Insurance Companies in Kenya
Capex Life Assurance Company Limited Was incorporated in the Year 2000 as a composite Insurance Company. To strengthen the life arm of the company, it acquired 13 insurance companies during the recapitalization period in the year 2007 at the home office in Nigeria.
For more information please visit: Capex Life Assurance Company Limited
41. Cannon Assurance Limited
Category: Insurance Companies in Kenya
Cannon Assurance Limited is one of the top insurance firms in Kenya and a market leader in Unit Linked Life Insurance products. The Company also writes all classes of General Insurance business such as Fire, Householders, Personal Accident, Workmen’s Compensation and Contractors All Risks.
For more information please visit: Cannon Assurance Limited
42. Britam Kenya Insurance
Category: Insurance Companies in Kenya
Britam Kenya Insurance Limited is a diversified financial services group, listed on the Nairobi Securities Exchange, with interests across the Eastern Africa region.
The group offers a wide range of financial products and services in Insurance, Asset Management, Banking, and Property. The product range includes Life, Health and General Insurance, Pensions, Unit Trusts, Investment Planning, Wealth Management, Off-shore Investments, Retirement Planning, Discretionary Portfolio Management, Property Development, and Private Equity.
For more information please visit: Britam Kenya Insurance
43. AIG Kenya Insurance Company Limited
Category: Insurance Companies in Kenya
AIG Kenya Insurance Company Limited traded as Chartis in Kenya and other parts of the world – apart from the US – until November 2012. This rebrand marked a new era for us, ushering in a new brand promise: “Bring on tomorrow”, which underscores our tremendous tenacity and ambition – to solve problems, to innovate for the benefit of our clients, and to act as a powerful, global team.
For more information please visit: AIG Kenya Insurance Company Limited
44. Apollo Life Assurance Ltd
Category: Insurance Companies in Kenya
Apollo Life Assurance Ltd is a member of the Apollo group. The Apollo Group also comprises APA insurance, which is the general insurance arm of the group. The company specializes in Life Assurance products and is well known for its professionally-managed services.
For more information please visit: Apollo Life Assurance Ltd
45. Africa Merchant Assurance Company Limited
Category: Insurance Companies in Kenya
Africa Merchant Assurance Company Limited was incorporated in Kenya and licensed to transact General insurance business. Africa Merchant Assurance Company Limited was licensed and began full operations in the year 2000. Africa Merchant Assurance Company Limited has a team of highly qualified, experienced and dynamic staff who render personalized, efficient and professional insurance services.
For more information please visit: Africa Merchant Assurance Company Limited
46. A P A Insurance Limited
Category: Insurance Companies in Kenya
A P A Insurance Limited was formed in 2003 after the merger of the general businesses of Apollo Insurance Company and Pan Africa General Insurance with a combined experience of over 100 years (Pan Africa General – 1946 and Apollo 1977), APA has become the largest insurance firm in Kenya and the most innovative in product offering.
For more information please Visit: A P A Insurance Limited
47. AAR Insurance Kenya Limited
Category: Insurance Companies in Kenya
When AAR started operating in 1984, our primary business was the evacuation of medical and accident casualties, both by road and air. As our membership increased, so did the needs of our clients, creating more opportunities to comprehensively provide healthcare packages for our clients.
For more information please visit: AAR Insurance Kenya Limited
Top 10 Insurance Companies
- Jubilee Insurance Company Limited
- Kenindia Assurance Company
- British American Insurance Company
- Pan Africa Insurance Holdings
- Heritage Insurance Company
- APA Insurance Services
- Insurance Company of East Africa (ICEA)
- Blue Shield Insurance Company
- UAP Provincial Insurance Company
- Cooperative Insurance Company