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News
Insurers challenged to rethink profitability as foreign players dominate lucrative markets
1+ hour, 50+ min ago (509+ words) Kenyan-based reinsurer-Kenya Re has challenged African insurance companies to rethink their business models and find ways of retaining more value locally. This, as it warns that foreign players continue to benefit from some of the continent’s most profitable insurance opportunities....
CIC Insurance creates subsidiary to target Kenya's low-income earners
3+ week, 2+ day ago (493+ words) This comes amid persistently low insurance penetration at 2.4%. Regional insurer CIC Insurance Group has set up a microinsurance subsidiary, CIC Impact, in a fresh push to expand insurance access among Kenya's low-income households, informal sector workers and small businesses. This…...
Motor insurance losses hit Sh8.2 billion as claims outpace annual premiums
1+ mon, 2+ week ago (608+ words) The general insurance business posted an underwriting loss of Sh7 billion New industry data shows motor insurance generated the largest underwriting loss of any insurance class in 2025 /AI Generated Kenya's motor insurance business is becoming increasingly difficult to sustain, with rising…...
Car importers riled by new insurance, multiple levies and taxes, say will push up prices
1+ mon, 3+ week ago (696+ words) In April, KRA’s revised motor vehicle taxes pushed up prices of units. CAR importers are outraged over the new directive requiring all imported motor vehicles, and cargo, to be covered under mandatory local marine cargo insurance. Through their lobby–Car…...