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News
Investment income lifts CIC half-year profit by 70pc
3+ hour, 12+ min ago (491+ words) CIC Group CEO Patrick Nyaga. CIC Insurance Group net earnings have raced past its entire 2025 profit in the first six months of this year, boosted by investment income and land sales despite underwriting revenue falling by more than half. In…...
Kenya Re half-year profit jumps 43pc to Sh2.25bn
4+ day, 17+ hour ago (476+ words) Kenya Reinsurance (Kenya Re) Corporation Limited Managing Director Dr Hillary Wachinga pictured on October 9, 2024 at Reinsurance Plaza in Nairobi. Kenya Reinsurance Corporation (Kenya Re) posted a 42.8 percent jump in net profit to Sh2.25 billion in the six months to June, lifted…...
Sanlam posts Sh124.6m half-year net profit
2+ week, 1+ day ago (361+ words) SanlamAllianz Holdings Limited Group Chief Executive Officer Dr Patrick Tumbo makes his remarks during the rebranding launch of listed non-banking financial services firm Sanlam Kenya Plc to SanlamAllianz Holdings (Kenya) PLC on November 26, 2025 at the JW Mariott Hotel. Sanlam Allianz…...
Insurance broker ordered to pay Monarch Sh49m in premium dispute
1+ mon, 1+ week ago (273+ words) The High Court has ordered Disney Insurance Brokers to pay Monarch Insurance Sh49.3 million in unremitted insurance premiums collected from clients between 2014 and 2020. Justice Freda Mugambi ruled that the broker failed to prove several insurance policies had been validly cancelled after…...
Banks dealt blow in fight over bancassurance charges ban
1+ mon, 1+ week ago (778+ words) The Kenya Bankers Association (KBA) has suffered a setback after the High Court rejected its request to have a circular by the Commissioner of Insurance banning service-based fees paid by insurance firms to subsidiaries of commercial banks suspended. The High…...
Why insurance reporting delays raise red flags for IRA
1+ mon, 2+ week ago (630+ words) Chief Executive Officer of the Insurance Regulatory Authority Godfrey Kiptum. Kenya’s insurance sector has witnessed repeated cases of delays in submission of quarterly reports to the Insurance Regulatory Authority (IRA). Many insurance firms have ended paying millions of shillings in…...
Seven insurance firms face IRA fines for reporting breaches
1+ mon, 2+ week ago (722+ words) Commissioner of Insurance and The Insurance Regulatory Authority CEO Godfrey Kiptum speaks at a past event held at JW Marriott Hotel in Nairobi on November 26, 2025. Seven insurance firms are facing regulatory fines for missing deadlines to submit records of their…...
Budget: Key policy pronouncements by Mbadi - highlights
2+ mon, 2+ week ago (51+ words) Business Daily Treasury Cabinet Secretary John Mbadi presents the Budget for the 2026/27 fiscal year in Parliament on June 11, 2026. National Treasury Cabinet Secretary John Mbadi presented the Sh4.82 trillion budget for the financial year 2026/27 in Parliament on Thursday afternoon....
Agricultural insurance to be offered separately amid rising climate risks
2+ mon, 2+ week ago (383+ words) The government has proposed a major overhaul of Kenya’s agricultural insurance market by creating a standalone class of underwriting business targeting risks unique to the farming sector. In his budget speech, Treasury Cabinet Secretary John Mbadi announced that the government…...
Medical insurance claims double in five years
2+ mon, 3+ week ago (422+ words) Medical insurance claims have nearly doubled over the past five years to Sh52.61 billion, driven by rising healthcare costs and increased utilisation, forcing insurers to raise premiums to remain viable. Latest industry data shows claims rose by 97.7 percent from Sh26.69 billion in…...