Insurance – Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

CS Oparanya unveils Deposit Guarantee Fund in SACCO sector shake-up

Sacco ReviewApril 15, 2026April 15, 202604 mins

Cabinet Secretary for Cooperatives and SMEs, Wycliffe Oparanya, has announced the introduction of a Deposit Guarantee Fund aimed at protecting members’ savings in SACCOs in the event of a SACCO collapse. Oparanya assured members that their deposits would be safeguarded, ensuring that they can recover their money even if their SACCOs fail. Speaking about the…

Insurance sector urged to adopt AI to speed claims and combat fraud

Sacco ReviewMarch 29, 202605 mins

Players in Kenya’s insurance industry are being urged to embrace artificial intelligence (AI) to accelerate claims processing and curb fraud, amid growing concerns over delayed settlements and rising cases of fraudulent claims. The call comes at a time when customer trust and operational efficiency are being tested by persistent challenges in the sector. Data from…

IRA holds insurance sensitization drive in Trans Nzoia County under Bima Mashinani Programme

Sacco ReviewDecember 18, 202504 mins

The Insurance Regulatory Authority (IRA) has intensified its nationwide sensitization campaign, taking its Bima Mashinani programme to Trans Nzoia County in an effort to strengthen public understanding of insurance and address persistent challenges in the sector. The outreach, which brought together key stakeholders at the Kitale National Polytechnic, was led by IRA board director Immaculate…

SHA disburses Ksh3.4 billion to health facilities

Sacco ReviewAugust 22, 2025August 22, 202503 mins

The Social Health Authority (SHA) has released Ksh3.4 billion to 2,048 health facilities across the country to settle verified claims under the Social Health Insurance Fund (SHIF). In a statement issued on August 21, SHA Chief Executive Officer Dr Mercy Mwangangi said the funds cover a range of services including inpatient care, drugs and substance…

IRA deregisters 20 insurance brokers over non-compliance with statutory regulations

Sacco ReviewJuly 22, 202503 mins

The Insurance Regulatory Authority (IRA) has struck 20 brokerage firms off the industry’s register, citing non-compliance with statutory regulations. These firms are barred from conducting insurance transactions as of June 30, 2025. “The Insurance Regulatory Authority (IRA) hereby notifies the public of the de-registration of twenty insurance brokers under Section 196 of the Insurance Act,”…

Nairobi County announces plans to upscale enrollment of SACCOs members to SHA

Sacco ReviewDecember 14, 2024December 14, 202403 mins

Nairobi City County Government has announced plans to upscale enrollment of members of Cooperatives and Savings and Credit Cooperative Organizations (SACCOS) in to the Social Health Authority (SHA) program. This strategic move is designed to boost health coverage for the city’s informal sector, which plays a pivotal role in Kenya’s economy. During a capacity building…

KDIC appeals court ruling regarding Ksh215 million premiums refund to Absa

Sacco ReviewJuly 18, 202405 mins

The Kenya Deposit Insurance Corporation (KDIC) has intensified its dispute with Absa Bank Kenya regarding a KSh215 million refund claim made by the bank, concerning purported over payments in statutory deposit protection fund premiums. The lender listed on the Nairobi Securities Exchange (NSE), filed a legal action against KDIC on October 14, 2023, requesting a…

Kenya Re posts KSh4.97 billion profit in 2023

Sacco ReviewJune 1, 202403 mins

Kenya Reinsurance Corporation has posted a profit of KSh4.97 billion in the financial year ended December 2023 up from KSh3.5 billion posted in 2022. This has been realized as a result of net investment and insurance results that rose by 42 per cent to KSh8.19 billion, up from KSh5.78 billion in the previous year. This…

Jubilee Insurance announces job opportunities

Sacco ReviewMay 31, 202401 mins

Jubilee Insurance has advertised vacancies for four jobs including Audit, Risk & Compliance Officer, Business Development Officer, Senior Accountant, Financial Reporting and Chief Distribution Officer. The closing date for all vacancies is June 2, 2024. Please visit the https://jubileeinsurance.com/ke/careers/ for more information. Founded in 1937, Jubilee Holdings Limited (JHL) has over over 1.9 million clients…

Jubilee insurance to make record KSh1 billion dividend payout

Sacco ReviewMay 30, 202405 mins

Jubilee Holdings will pay a total dividend payout of KSh1.04 billion for the full year ended December 2023 despite a decrease in profits compared to 2022. The insurance company recorded a KSh4.4 billion profit last year compared to KSh5.5 billion posted in 2022. In the full year to December 2022, the insurer issued a dividend…