Kenya Insurance 2007 Rankings

Insurance Company of East Africa Assets 19,151 million [19.15 billion or ~ $309 million] (profit of 545 million) [$8.8 million]
Kenya Reinsurance 14,710 (965 million)
Jubilee Insurance 12,459
British American Insurance 10,252 (512)
Kenindia Assurance 9,886
UAP Insurance 7,245 (888)
Old Mutual Life Assurance 6,447
CFC life — (255 million profit)
Heritage AII 4,522 (364)
APA Insurance 4,491
Lion of Kenya Insurance 3,722 (179)
Phoenix (East Africa) Assurance 3,669 (103)
Blue Shield 3,109
Kenya Alliance 2,798
Madison Insurance 2,751
Cooperative Insurance 2,437 (140)
AIG Kenya Insurance 2,337 (217)
General Accident Insurance 2,192 (216)
Cannon Assurance 2,163 (60)
First Africa Assurance 1,781 (103)
Apollo Insurance 1,774
Geminia Insurance 1,223 (24)
Fidelity Shield 1,194 (98)
Trident Insurance 1,178 (54)
Real Insurance 1,107 (92)
Gateway Insurance 1,058
Tausi Assurance 949 (2)
Occidental Insurance 937 (63)
Mercantile Insurance 910 (34)
Standard Assurance 896 (6)
East Africa Re 872 (119)
Intra Africa Assurance 855
Corporate Insurance 809 (23)
Concord Insurance 757 (28)
Directline Assurance 730
Monarch Insurance 683 (9)
Amaco 674 (43)
Pioneer Assurance 508 (4)
Mayfair insurance 478 (-1)
Kenya Orient 443 (19)
Metropolitan Insurance 437
PACIS 220 (27)
Trinity Life Assurance 219

8 thoughts on “Kenya Insurance 2007 Rankings

  1. miztajuugs

    hey banks,this is a step in a very right direction.u neva touched insurance cos before!so we can analyse them together,all issues affecting them,the sleepy regulations,ownership crises etc etc.
    ins cos are very important and deserve more than the lukewarm treat ment by the govt.

  2. coldtusker

    If Heritage & CFC Life (similar ownership) were to commbine their opertaions, they could jump into the top 5.

    I think KenRe is a ‘fake’ ranking in that they have a monopoly for re-insurance. When this is removed, you will see Jubilee frogjump them since they own part of Africa-Re.

    Some of these firms have cross-holdings e.g. Apollo & APA. APA is also partly owned by Pan Africa Insurance.

    GA Insurance is linked to I&M Bank. I expect eventually they will merge to create larger financial supermarkets. CFC Stanbic is already one…

  3. bankelele

    Miztajuugs: taking an interest from now. problem is they only publish once a year and with no set rules (some give P&L, some give balance sheets – no P&L)

    coldtusker: I misplaced the bal sheet of CFC. I see there are a lot of sister-companies in the sector and banking-parent relationships

  4. Anonymous

    what may also be an interesting outlook is that of market share and who is stronger in general or life insurance. Methinks the guys with a large share of life insurance business have a better business long run

  5. Kenyan Actuaries

    Eleven insurance companies (Republic of Kenya) have wound up/gone under receivership in the last 22 years, thats an average of one in every two years.

    Kenyan Story
    Standard Assurance Company – 2009
    Invesco Insurance Company 2007
    United Insurance Company – 2004
    Lakestar Insurance Company -2000
    Stallion Insurance Company -1999
    Union Insurance Company – 1997
    Provincial Insurance Company -1996
    Access Insurance Company -1994
    Kenya National Insurance Company -1993
    Shield of Kenya Insurance Company -1991
    Kenya Arab Insurance Company -1989
    Kenya Commercial Insurance Company -1987

    The probability that another insurer will die before 2012 approaches one.

  6. Anonymous

    Kenya Actuaries – Thank you for that info! Makove must be sleeping on the job at IRA. He has all the powers he requested for from Kimunya.

  7. share

    Kenya provides evidence that the insurance industry can thrive in Sub-Saharan Africa in face of highly challenging economic and – especially – political problems. At the end of 2008 the combined assets of Kenya’s 42 insurers amounted to KES146.12bn, or nearly US$2bn. Both the non-life and the life segments sustained double-digit growth over the last five years.

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