Top 5 Insurance Companies in Kenya

International News Desk: Kenya’s insurance industry demonstrated resilience and expansion in 2025, with gross written premiums (GWP) rising by approximately 13.4% in the first half of the year to KSh 241.3 billion, up from KSh 212.8 billion in H1 2024. Full-year 2024 premiums reached around KSh 395 billion, supported by sustained demand across medical, motor, life and agricultural lines.

The sector continues to benefit from regulatory reforms by the Insurance Regulatory Authority (IRA), alongside growing digital adoption, including mobile platforms and AI-driven claims processing and the expansion of bancassurance channels. Efforts to improve insurance penetration, which remains below 3% of GDP, are also contributing to long-term growth.

Despite a competitive landscape, the market remains relatively concentrated, with the top five insurers accounting for approximately 43% of general insurance and nearly 60% of long-term business. Key industry trends include the expansion of microinsurance, the development of parametric products for agriculture, continued innovation in health insurance and regional expansion across East Africa. However, rising claims costs in motor and medical segments, along with the need to enhance affordability and inclusion, continue to pose challenges.

Among the leading players, APA Insurance has emerged as a strong force in the general insurance segment, with an estimated GWP exceeding KSh 16.7 billion and a market share of around 8.9%. The company is widely recognised for its efficient claims management, particularly in motor insurance, where settlements are often processed within a few days. Its continued investment in digital platforms and broad portfolio of personal and commercial insurance products position it well for further growth under the leadership of CEO Dipankar Acharya, with a group leadership transition to Risper Genga Ohaga expected in mid-2026.

CIC Insurance Group also maintains a significant market presence, with estimated premiums above KSh 15.4 billion and a market share in the range of 8% to 9%. The group’s strength lies in its cooperative model and deep expertise in agricultural and microinsurance segments, enabling it to effectively serve rural and member-based markets. Under the leadership of Group Managing Director and CEO Patrick Nyaga, CIC continues to expand its footprint across East Africa while focusing on innovative solutions such as parametric products tailored for smallholder farmers.

Britam Holdings stands out as one of the most diversified financial services providers in the region, with a leading position in life insurance, where it typically commands a market share of around 18% to 19% in long-term business. Led by Group Managing Director and CEO Tom Gitogo, Britam’s operations span life assurance, general insurance, asset management and microinsurance. The group’s strong financial performance in 2025 has been supported by investment income and ongoing digital transformation, reinforcing its role as a key player in both insurance and broader financial services.

Jubilee Insurance continues to play a pivotal role in Kenya’s insurance landscape, particularly in health and life segments. Under the leadership of Group CEO Dr. Julius Kipngetich and Jubilee Health CEO Njeri Jomo, the company has maintained strong growth supported by its well-established brand and regional operations. Its expertise in medical insurance and cross-border synergies across East Africa has enabled it to remain a major contributor to protection and healthcare-focused products.

Meanwhile, Old Mutual remains a prominent player with an estimated market share of around 8.8% and GWP in the range of KSh 16.5 billion, supported by its integrated life, investment and insurance solutions. At the same time, SanlamAllianz is expanding aggressively following its rebranding, leveraging bancassurance channels and strengthening its general insurance portfolio to target a top-tier position in the market. GA Insurance also continues to demonstrate consistent performance, particularly in motor and commercial insurance segments, contributing to the competitive dynamics of the industry.

Kenya’s insurance market is being shaped by a combination of digital innovation, evolving customer needs and increased competition among leading players. Companies such as APA, CIC and Britam are driving growth in general and diversified insurance lines, while Jubilee and Old Mutual, alongside emerging players like SanlamAllianz, continue to strengthen their positions in life and health insurance. As insurers intensify their focus on innovation, affordability and inclusion, customers are expected to benefit from faster claims processing, more tailored products and improved service delivery.