Stima Sacco launches Mpawa Insurance Brokerage to expand member services

Stima DT Savings and Credit Cooperative Society Limited (Stima Sacco) has officially elevated its insurance services through the launch of its fully-fledged subsidiary, Mpawa Insurance Brokerage.

The launch event, held on Wednesday, February11, 2026, marks a decisive strategic transition for the unit, which has evolved from its previous status as Mpawa Insurance Agency into a full-service brokerage.

This aligns with the institution’s 2022–2026 Strategic Plan, which established a clear roadmap for business growth, profitability, and aggressive market expansion.

Shareholders approved the conversion to diversify revenue streams, granting Mpawa the legal autonomy to represent the client rather than the insurer. This ensures independent advocacy and a wider selection of products, as the brokerage can now shop the entire market to compare options and secure competitive rates for its members.

Speaking during the launch, Stima Sacco CEO Dr. Gamaliel Hassan noted that the journey of the brokerage started almost six years ago, tracing back to 2019 when the Sacco started with an agency.

With a clientele of over 240,000, the CEO stated that after six years of learning about insurance, he is confident they have learned the nitty-gritty of running an insurance business and the management has been empowered to run the business to the next level.

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Dr. Hassan emphasized that “the brokerage subsidiary will not underwrite risks directly but will acquire and transfer insurance business to underwriters for a fee, ensuring the Sacco avoids the heavy capital requirements associated with primary underwriting.”

He explained that the diversification is very critical as 78 percent of the Sacco’s business currently comes from interest on the loan book. He noted that “diversification is key,” adding that eventually, dividends and rebate payouts will be enhanced because the membership of about 240,000 gives the Sacco greater bargaining power compared to an individual seeking insurance cover.

Eng. Geoffrey Muli, the Chair of Mpawa Insurance Brokerage Limited, said the event signaled the start of penetration and growth in the regional market to offer efficient products and value for money.

“This is the best move Stima Sacco has been able to make at this time so that the members can get value for their money,” Muli said.

Mpawa Insurance Agency demonstrated robust growth by increasing premiums written from Ksh147 million in 2019 to Ksh 267 million in 2021, the brokerage is well-capitalized to compete regionally.

Mpawa will deliver a comprehensive suite of products including Motor, Medical, Life, and specialized covers, ensuring seamless service delivery to its growing membership.

By Masaki Enock

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