Kenya: Seven Insurers Fail to File Mandatory Returns, Face Ira Scrutiny

15 July 2026
Capital FM (Nairobi)
By Phidel Kizito

Nairobi — Seven insurance companies have come under scrutiny from the Insurance Regulatory Authority (IRA) after failing to submit mandatory quarterly returns, limiting the regulator's ability to assess their financial performance and compliance.

The affected firms are Definite Assurance Company, Kenyan Alliance Insurance Company Limited (General), Kenyan Alliance Insurance Company Limited (Life), Monarch Insurance Company Limited (General), Monarch Insurance Company Limited (Life), Star Discover Micro Insurance Limited and Birdview Micro Insurance.

In its latest industry report, the IRA said the firms were excluded from the quarterly analysis because they failed to meet reporting requirements.

"The report includes data for all the insurers, reinsurers and microinsurers regulated by the Authority except for Definite Assurance Company, The Kenyan Alliance Insurance Company Limited-General, The Monarch Insurance Company Limited-General, The Kenyan Alliance Insurance Company Limited-Life, The Monarch Insurance Company Limited-Life, Star Discover Micro Insurance Limited and Birdview Micro Insurance due to non-compliance with the submission requirements."

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The regulator also cautioned that publication of the report should not be interpreted as confirmation that the submitted returns fully comply with the Insurance Act or that they have been verified for accuracy.

The report separately noted that Continental Reinsurance Plc Life was excluded because it ceased operations at the end of 2025 following a restructuring that transferred its capital and assets to Continental Reinsurance Plc-General, distinguishing its omission from the firms that failed to file returns.

Quarterly returns enable the regulator to monitor the financial health of insurers and the stability of the industry. Failure to submit them can limit regulatory oversight and reduce the availability of financial information to policyholders, investors and other market participants.

The disclosure comes as Kenya's insurance industry posted strong growth in the first quarter of 2026. Gross written premiums rose 19.9 percent to Sh155.3 billion from Sh129.5 billion a year earlier, while net profit increased 43.3 percent to Sh7.05 billion.

Read the original article on Capital FM.

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