(NAIROBI, KENYA) – Life insurance premiums rose 33.6% to KES 147.46 billion ($1.14 billion) in the six months ended June 2026, surpassing general insurance for the first time, driven by retirement savings channelled through private insurers and a surge in investment-linked products. Data from the Insurance Regulatory Authority (IRA) showsContinue Reading
(NAIROBI, KENYA) – An investment company linked to Prime Cabinet Secretary Musalia Mudavadi and Lamu Governor Issa Timamy will pay KES 3 billion ($23.2 million) to acquire majority stakes in two insurance firms from South Africa’s Absa Group. Absa Group said in August it had signed an agreement with FirstContinue Reading
(NAIROBI, KENYA) – Sanlam Allianz Holdings Kenya Plc plans to drop its subsidiary structure and make its life insurance business the listed entity on the Nairobi Securities Exchange. The company said in a notice it intends to transfer all the assets and liabilities of its wholly owned subsidiary, Sanlam AllianzContinue Reading
(NAIROBI, KENYA) – Kenya’s Social Health Authority has extended the deadline for healthcare providers to sign contracts with the State agency to 14th October, allowing hospitals, clinics and medical practitioners to treat registered scheme members and claim reimbursements. The authority said Healthcare Provider Contracts that expired on 30th September 2026Continue Reading
(NAIROBI, KENYA) – Equity Bank has the largest branch network and the most insured deposits among Kenyan banks, according to the Central Bank of Kenya’s Bank Supervision Annual Report 2025. Equity Bank Kenya closed the year with 13.87 million deposit accounts. That is the second largest account base in theContinue Reading
(NAIROBI, KENYA) – Kenya has ordered an inquiry into the financial health and governance structures of the NHIF Sacco, following a warning over the possible liquidation of the troubled Metropolitan National Sacco over its poor cash position. Commissioner for Co-operatives David Obonyo told The Daily Handle on 22nd September theContinue Reading
(NAIROBI, KENYA) – Insurance regulators across East Africa have agreed to standardise the supervision of insurance companies, a move aimed at making it easier to compare underwriting practices and strengthen oversight of the region’s growing insurance market. The agreement was reached by commissioners and insurance supervisors from several East AfricanContinue Reading
(NAIROBI, KENYA) – Kenya’s High Court has faulted the Insurance Regulatory Authority (IRA) for invalidating insurance policies held by customers of three insurers and placing them under statutory management without allowing affected policyholders to be heard. The court ruled that the Commissioner of Insurance acted outside the statutory parameters whenContinue Reading
(NAIROBI, KENYA) – Banks and other financial institutions in Kenya now face fines of up to KES 20 million ($155,000/GBP 122,000) for breaking new terror financing rules as the country works to stop suspicious financial flows. New regulations from the Ministry of Interior and National Administration raise the maximum penaltyContinue Reading
(NAIROBI, KENYA) – A KES 130 million ($1 million / GBP 790,000) insurance payout to Sun World Safaris after devastating floods at Mara Bush Camp has brought into focus the growing role of insurance in helping Kenyan businesses absorb the financial shock of extreme weather. First Assurance has paid moreContinue Reading
