The Kenya Bankers Association (KBA) has filed a case in the High Court against the Insurance Regulatory Authority (IRA), over the latter's ban on bancassurance commissions or fees receivable from insurance companies.
The International Finance Corporation (IFC) has proposed granting a guarantee facility of up to $50m to ZEP-Re to cover the reinsurance credit risk of the Nairobi-headquartered reinsurer.
The Association of Kenya Insurers (AKI) has intensified enforcement operations targeting fraudulent motor insurance certificates, working with the Traffic Police Department, the Insurance Regulatory Authority (IRA) and the Insurance Fraud Investigation Unit.
The government has convened a high-level consultative meeting to discuss the participation of private health insurers within the national healthcare ecosystem.
The Association of Kenya Insurers (AKI) has aired concerns over the government's plan to set up a single channel for dialogue between public institutions and the private sector.
Kenya Reinsurance Corporation, which is listed on the Nairobi Securities Exchange, has unveiled a proposal to overhaul its share structure and revamp its board of directors.
The Policyholders Compensation Fund (PCF) has hiked the maximum amount payable to policyholders as compensation on any one claim, for all classes of insurance, to KES500,000 ($3,870), in the event of an insurance company falling bankrupt.
Kenya's Ministry of Health is seeking to designate an insurance company to provide Mandatory Inbound Travel Health insurance for visitors staying in the country for less than a year.
Singapore-headquartered global InsurTech bolttech has announced that it has acquired mTek, a digital insurance platform based in Kenya. This move advances bolttech's strategic goals in East Africa and enhances its global embedded insurance capabilities.
Kenya's regulatory requirements for digital insurance are set to get stricter as the country's insurance regulator, Insurance Regulatory Authority (IRA) is drafting tougher requirements around cybersecurity, data protection and digital insurance oversight.