List Of Licensed Insurance Companies In Kenya 2024. The Insurance Regulatory Authority of Kenya (IRA) is the sole authority charged with regulation and supervision of the insurance industry within the Republic of Kenya. It ensures compliance by insurance/reinsurance companies, protects consumers and promotes a high degree of policy security for policyholders.
The Insurance Act was amended in 2006 in an attempt to promote further efficient regulation of the insurance sector. The Department of Insurance was separated from its parent ministry and established as a body corporate known as the Insurance Regulatory Authority.
With this amendment, not only did the department gain greater independence from bureaucratic hindrances, which improved its efficiency as intended, but the holder of the Commissioner’s office gained additional responsibility in the secondary role of serving as the Chief Executive Officer of the newly-established Authority.
Functions
IRA is responsible for the maintenance of the stability of the insurance sector. Its main objectives and functions are found in the Insurance Act.
List Of Licensed Insurance Companies In Kenya 2024
This is a list of some of the Insurance Companies carrying on insurance business in Kenya. They are regulated by the Insurance Regulatory Authority:
- Pioneer Assurance Company Limited
- Allianz
- Madison Insurance
- British-American Insurance Company Kenya Limited
- Cannon Assurance Company Limited
- Mayfair Insurance Company Limited[3]
- First Assurance Kenya Limited[4]
- GA Insurance Company
- Kenya Reinsurance Corporation
- Liberty Life Assurance Kenya Limited
- Metropolitan Life Insurance Kenya
- Real Insurance Company
- Sanlam Kenya plc – was Pan Africa Life Assurance
- Heritage Insurance Company
- Jubilee Insurance Company Limited
- UAP Holdings
- Resolution Insurance Ltd
- Jazapay Insurance Agency
- Jimmy Chuka Uni insurance company
