Topic: IRA
Insurance regulator to crack down on advocates withholding compensation
Aug 28, 2024 at 10:41 AM
The Insurance Regulatory Authority (IRA) has announced a joint initiative with the Advocates Complaints Commission (ACC) to curb the increasing number of complaints against advocat...
IRA places Invesco Assurance under receivership as industry faces turmoil
Aug 15, 2024 at 02:24 PM
The Insurance Regulatory Authority (IRA) has placed Invesco Assurance Company Limited under statutory management, transferring the company’s operations to the regulatory body....
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Curtain falls on Blue shield Insurance Company as court orders liquidation
Jun 28, 2024 at 01:45 PM
The High Court has ordered the liquidation of Blue Shield Insurance Company, marking the end of the road for the once-prominent insurer....
Conflicting announcements throw Directline Assurance into uncertainty
Jun 11, 2024 at 02:59 PM
The future of Directline Assurance Company, which commands a substantial portion of Kenya's Public Service Vehicles (PSVs) insurance market, has been cast into doubt following a se...
General insurers record 35 per cent profit growth to Sh13.33 billion despite underwriting losses
May 08, 2024 at 10:50 AM
Kenya's general insurance industry recorded a 35 per cent increase in net profit to Sh13.33 billion for the financial year ending December 2023, according to data from the Insuranc...
Insurance industry records 11.9 per cent surge in claims payouts in Q3 2023
Dec 22, 2023 at 03:14 PM
A recent report from the Insurance Regulatory Authority (IRA) sheds light on the dynamic landscape of the insurance industry in Kenya, revealing a notable upswing in claims payouts...
Police, teachers medical scheme could be shelved over Sh5 billion unpaid claims
Dec 14, 2023 at 06:04 PM
The stability of the multibillion-shilling government-financed medical insurance scheme for teachers, police, and prison officers hangs in the balance as hospitals engaged in the p...
Moses Kuria warns police against soliciting bribes from motorists insured by Xplico
Dec 09, 2023 at 02:59 PM
Public Service Cabinet Secretary Moses Kuria has issued a stern warning to traffic police officers soliciting bribes from motorists covered by Xplico Insurance, following the recen...
Xplico Insurance under statutory management, Invesco Assurance in liquidation
Dec 08, 2023 at 04:59 PM
Kenya's Insurance Regulatory Authority (IRA) has moved decisively to address concerns in the insurance sector, announcing the placement of Xplico Insurance Company Limited under st...
Policyholders in collapsed insurance firms win as Treasury removes stringent rule
Sep 19, 2023 at 11:47 AM
Policyholders facing uncertainty in the aftermath of insurance company collapses have received a welcome relief as the Treasury formally abolishes a challenging requirement that de...
High Court refuses to suspend 50 per cent hike in motor vehicle insurance
Jan 07, 2022 at 09:57 AM
The High Court has dealt Kenyan vehicle owners a blow after it declined to suspend the planned 50 per cent increase of motor vehicle insurance premiums....
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