• In 2019, IRA had a total of 213 insurance brokerage companies listed but in the new list, only 131 firms made it.
• IRA began the crackdown and delisting of insurance brokerage companies due to the high number of unpaid premiums owed to insurance firms.
Image: COURTESY
The Insurance Regulatory Authority has released a list of all the newly licensed industry players in the insurance sector in Kenya for 2020.
Amongst the hardest hit players in the industry were the insurance brokerage firms, where 82 firms were left out of the newly released list by IRA.
In 2019, IRA had a total of 213 insurance brokerage companies listed but in the new list, only 131 firms made it.
IRA began the crackdown and delisting of insurance brokerage companies due to the high number of unpaid premiums owed to insurance firms.
As of 2018 outstanding premiums stood at Sh43 billion, an increase from Sh37 billion in 2017 with IRA pointing out that insurance brokerage firms accounted for 24 per cent (Sh10.68 billion) of the total outstanding premiums.
IRA also said that the insurance brokerage firms that were delisted had not complied with the new tough license renewal conditions in the Insurance Act.
Meanwhile, the list of insurance firms licensed by IRA remained intact from the one in 2019.
Here is the List of Delisted Insurance Firms
- AA Insurance Brokers Limited
- Aboo Insurance Brokers Limited
- AL- Amin Insurance Brokers Limited
- Alpha-Levits Insurance Brokers Limited
- Apis Insurance Brokers Limited
- A-Plan Insurance Brokers Limited
- Associated Insurance Brokers Limited
- Bafana Insurance Brokers Limited
- Batlex Insurance Brokers Limited
- Bental Insurance Brokers Limited
- Berkley Insurance Brokers Limited
- Centaur Insurance Brokers Limited
- Chartwell Insurance Brokers Limited
- Clarkson Insurance Brokers Limited
- Consolidated Insurance Brokers Limited
- Crownscope Insurance Brokers Limited
- Eden Rock Insurance Brokers Limited
- Entreplat Insurance Brokers Limited
- Fairsure Insurance Brokers Limited
- Fast Fit Insurance Brokers Limited
- First Accord Insurance Brokers Limited
- Font Insurance Brokers Limited
- Fortune Insurance Brokers Limited
- Goldfield Insurance Brokers Limited
- Harbinger Insurance Brokers Limited
- Harmony Insurance Brokers Limited
- Hawk Bay Insurance Brokers Limited
- Homeland Insurance Brokers Limited
- Kan Insurance Brokers Limited
- Kelon Insurance Brokers Limited
- Kenfident Insurance Brokers Limited
- Koolridge Insurance Brokers Limited
- Ksembi Insurance Brokers Limited
- Lalit Sodha Insurance Brokers Limited
- Lema Insurance Brokers Limited
- Losagi Insurance Brokers Limited
- Macly Insurance Brokers Limited
- Mik Insurance Brokers Limited
- Millenium Insurance Brokers Limited
- Minlet Insurance Brokers Limited
- Niconat Insurance Brokers Limited
- Nyadwe Insurance Brokers Limited
- Octagon Insurance Brokers Limited
- Pacific Insurance Brokers (Ea) Limited
- Paladin Insurance Brokers Limited
- Palsha Insurance Brokers Limited
- Plan & Place Insurance Brokers Limited
- Platinum Insurance Brokers Limited
- Porim Insurance Brokers Limited
- Prime Mover Insurance Brokers Limited
- Primeken Insurance Brokers Limited
- Royal Associates Insurance Brokers Limited
- Sakaka Insurance Brokers Limited
- Samnel Insurance Brokers Limited
- Scanner Insurance Brokers Limited
- Sedgwick Kenya Insurance Brokers Limited
- Select And Protect Insurance Brokers Limited
- Shree Insurance Brokers Limited
- Solian Insurance Brokers Limited
- Southern Sahara Insurance Brokers Limited
- Spire Insurance Brokers Limited
- Swinton Insurance Brokers (K) Limited
- Underwriting Africa Insurance Brokers Limited
- Utmost Insurance Brokers Limited
- Vike Insurance Brokers Limited
- Waumini Insurance Brokers Limited
- Wilsmart Insurance Brokers
- Zulmac Insurance Brokers Limited