The insurance sector is one of the most thriving, not only in Kenya but across the world. Though, there is to some extent, low penetration in personal insurance cover, entities and government institutions from all sectors are huge insurees. As the economy of the country keeps growing, the key bedrock of insurance uptake, more and more covers are being rolled out to carter for the ever-expanding market. Insurance companies in Kenya, are licensed by the Insurance Regulatory Authority (IRA). So, if you want to take an insurance cover, ensure you go with a fully licensed insurer.
Insurance Business
Insurance policies are categorized into different classes, broadly under General and Long Term Insurance Business.
a. General Insurance Business
The following are the classes of insurance falling under General Insurance Business.
01 – Aviation
02 – Engineering
03 – Fire Domestic
04 – Fire Industrial
05 – Liability
06 – Marine
07 – Motor Private
08 – Motor Commercial
09 – Personal Accident
10 – Theft
11 – Workmen’s compensation
12 – Medical
13 – Micro insurance
14 – Miscellaneous
b. Long Term Insurance Business
The following are the classes of insurance falling under Long Term Insurance Business.
31 – Life Assurance
32 – Annuities
33 – Pensions
a. Personal Pension
b. Deposit Administration
34 – Group Life
35 – Group Credit
36 – Permanent Health
37 – Investment
a. Unit Link and Linked Investments
b. Non-Linked investments
Reinsurance companies in Kenya
Here are licensed reinsurance companies in Kenya by the Insurance Regulatory Authority (IRA).
No. | Reinsurance company | Authorized classes of Insurance Business |
1. | Continental Reinsurance Limited (Kenya) | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14, 31, 32, 34, 35 |
2. | East Africa Reinsurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14, 31, 34, 35 |
3. | Kenya Reinsurance Corporation Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14, 31, 34, 35 |
4. | Ghana Reinsurance Company (Kenya) Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
5. | WAICA Reinsurance (Kenya) Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
Insurance companies in Kenya
Here are licensed insurance companies in Kenya by the Insurance Regulatory Authority (IRA).
No. | Insurance company | Authorized classes of Insurance Business |
1. | AAR Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
2. | Absa Life Assurance Kenya Limited | 31, 34, 35 |
3. | Africa Merchant Assurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 14 |
4. | AIG Kenya Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 13, 14 |
5. | Allianz Insurance Company of Kenya Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
6. | APA Insurance Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
7. | APA Life Assurance Company Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
8. | Britam General Insurance Company (K) Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
9. | Britam Life Assurance Company (K) Limited | 31, 32, 33a, 33b, 34, 35, 36, 37a, 37b |
10. | Metropolitan Cannon General Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13 |
11. | Capex Life Assurance Company Limited | 31, 32, 33a, 33b, 34, 35 |
12. | CIC General Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
13. | CIC Life Assurance Company Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
14. | Corporate Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 14, 31, 34 |
15. | Directline Assurance Company Limited | 07, 08 |
16. | Fidelity Shield Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14 |
17. | First Assurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14, 34, 35 |
18. | GA Insurance Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14 |
19. | GA Life Assurance Limited | 31,32,33a,33b,34,35 |
20. | Geminia Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14, 31, 34, 35, 36, 37b |
21. | ICEA LION General Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11,12,13,14 |
22. | ICEA LION Life Assurance Company Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
23. | Intra Africa Assurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 14 |
24. | Invesco Assurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 14 |
25. | Kenindia Assurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14, 31, 32, 33a, 33b, 34, 35, 37b |
26. | Kenya Orient Insurance Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
27. | Kenya Orient Life Assurance Limited | 31, 32, 33a, 33b, 34, 35 |
28. | KUSCCO Mutual Assurance Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
29. | Liberty Life Assurance Kenya Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
30. | Madison Insurance Company Kenya Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
31. | Madison General Insurance Kenya Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
32. | Mayfair Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 14 |
33. | Metropolitan Cannon Life Assurance Limited | 31, 34, 35, 37a, 37b |
34. | Occidental Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 14 |
35. | Old Mutual Assurance Company Limited | 31, 33a, 33b, 34, 35, 37a, 37b |
36. | Pacis Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
37. | MUA Insurance (Kenya) Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 14 |
38. | Pioneer General Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 14 |
39. | Pioneer Assurance Company Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
40. | Prudential Life Assurance Company Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
41. | Resolution Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
42. | Saham Assurance Company Kenya Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14, 31, 32, 33a, 33b, 34, 35 |
43. | Sanlam General Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14 |
44. | Sanlam Life Insurance Company Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
45. | Takaful Insurance of Africa Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13,14, 31, 34, 35 |
46. | Tausi Assurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14 |
47. | The Heritage Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14 |
48. | The Jubilee Insurance Company of Kenya Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14, 31, 32, 33a, 33b, 34, 35 |
49. | The Kenyan Alliance Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 14, 31, 32, 33a, 33b, 34, 35, 37a |
50. | The Monarch Insurance Company Limited | 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14, 31, 34, 35 |
51. | Trident Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 14 |
52. | UAP Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
53. | UAP Life Assurance Limited | 31, 32, 33a, 33b, 34, 35, 37a, 37b |
54. | Xplico Insurance Company Limited | 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14 |
