We understand choosing the right insurance provider can be overwhelming with over 58 licensed insurers operating in Kenya. Our extensive research shows that the insurance industry in Kenya has grown significantly, with general insurance accounting for 60% of industry gross written premiums. We’ve analyzed market share data, claims payment ratios, financial stability ratings, and customer satisfaction scores to bring you this comprehensive guide. Our team has evaluated each company’s product offerings, network coverage, and service quality to help you make an informed decision.
Despite insurance contributions to economic growth, the intervening role of structural transformation on the insurance-growth nexus remains scarce, leaving a gap in the literature. Motivated by the 2030 Sustainable Development Agenda, which envisages higher structural transformation, financial development and economic progress, this study examines the threshold effects and the joint impact of insurance and structural transformation on economic growth in Africa.
In this guide, we’ll reveal the complete ranking of Kenya’s top 15 insurance companies, their unique strengths, coverage options, and why they stand out. You’ll discover which insurers offer the best value for money.
Top 15 Insurance Companies in Kenya
- CIC Insurance Group
CIC Insurance Group maintains its position as Kenya’s largest insurance provider by market share. The company offers comprehensive insurance solutions including motor, health, life, property, and agricultural insurance. CIC’s strength lies in its extensive network of branches across Kenya and competitive premium rates.
Key Features:
- Market-leading position in general insurance
- Comprehensive motor insurance coverage
- Strong agricultural insurance portfolio
- Extensive branch network nationwide
- Jubilee Holdings
Jubilee Insurance has established itself as a market leader since 1937, offering one of the most diverse product portfolios in Kenya. The company excels in life insurance, health coverage, and has expanded significantly in the East African region.
Key Features:
- Rich 88-year history in the market
- Strong financial foundation
- Excellent customer service ratings
- Wide range of life and health products
- Britam Holdings
Britam Holdings leads in insurance revenue at KES 17.8Bn showing a modest y/y growth rate of 7.4% in 1H2024. The company has positioned itself as an innovative insurer with flexible payment options and comprehensive coverage.
Key Features:
- Highest insurance revenue in Kenya
- Innovative payment solutions
- Strong digital platform
- Comprehensive life insurance products
- ICEA Lion Group
ICEA Lion operates as one of Kenya’s oldest and most established insurance companies. The company has built a reputation for reliability and offers competitive rates across multiple insurance categories.
Key Features:
- Long-standing market presence
- Competitive premium pricing
- Strong general insurance portfolio
- Reliable claims processing
- APA Insurance
APA Insurance has grown to become one of the top 5 insurance providers in Kenya through strategic partnerships and customer-focused service delivery. The company offers competitive rates and has invested heavily in technology.
Key Features:
- Strong growth trajectory
- Technology-driven service delivery
- Competitive pricing structure
- Comprehensive product range
- Heritage Insurance
Heritage Insurance dominated with an impressive 14.89% claim payment ratio, nearly double its nearest competitor. This performance demonstrates Heritage’s commitment to efficient claims settlement and customer satisfaction.
Key Features:
- Industry-leading claims payment ratio
- Streamlined claims processing
- Excellent customer service
- Competitive motor insurance rates
- Directline Assurance
Directline has carved out a niche in the motor insurance market, particularly for public service vehicles (PSVs). The company offers specialized coverage and competitive rates for commercial vehicle owners.
Key Features:
- PSV insurance specialization
- Competitive personal vehicle coverage
- Quick quote processing
- Efficient claims handling
- GA Insurance
GA Insurance has maintained steady growth and offers reliable insurance solutions across multiple categories. The company is known for its motor and marine insurance expertise.
Key Features:
- Strong motor insurance portfolio
- Marine insurance expertise
- Consistent market performance
- Reliable customer service
- Old Mutual
Old Mutual brings international expertise to Kenya’s insurance market. The company offers comprehensive life and general insurance products with strong financial backing.
Key Features:
- International backing and expertise
- Strong life insurance products
- Comprehensive general insurance
- Solid financial foundation
- Invesco Assurance
Invesco has established itself as a growing player in Kenya’s insurance market, offering competitive rates and expanding its product portfolio consistently.
Key Features:
- Growing market presence
- Competitive pricing
- Expanding product range
- Customer-focused approach
- Madison Insurance
Madison Insurance focuses on providing tailored insurance solutions for specific market segments. The company has built a reputation for personalized service and competitive pricing.
Key Features:
- Tailored insurance solutions
- Personalized customer service
- Competitive premium rates
- Growing market share
- AAR Insurance
AAR Insurance specializes in health and medical insurance, offering some of the most comprehensive medical coverage options in Kenya.
Key Features:
- Health insurance specialization
- Extensive hospital network
- Comprehensive medical coverage
- Strong customer support
- Resolution Insurance
Resolution Insurance has positioned itself as a technology-forward insurer, offering digital-first insurance solutions and competitive rates.
Key Features:
- Digital-first approach
- Modern technology platform
- Competitive pricing
- Efficient online services
- Takaful Insurance
Takaful Insurance operates under Islamic insurance principles, serving Kenya’s Muslim community and others interested in Sharia-compliant insurance products.
Key Features:
- Sharia-compliant insurance products
- Ethical investment approach
- Community-focused service
- Religious compliance assurance
- Kenindia Assurance
Kenindia Assurance rounds out our top 15 with steady performance and reliable service. The company offers competitive rates across multiple insurance categories.
Key Features:
- Steady market performance
- Reliable service delivery
- Competitive rates
- Multiple product categories
Insurance Market Analysis and Trends
Market Size and Growth
There are 58 insurers and reinsurers in Kenya and the market is dominated by CIC, Jubilee, Britam, ICEA, Lion General and APA Insurance. The Kenyan insurance market continues to show steady growth, driven by increased awareness and regulatory improvements.
Industry Structure
General insurance dominates the industry, accounting for 60% of industry gross written premiums. This distribution reflects the market’s focus on property, motor, and business insurance products rather than life insurance.
How to Choose the Right Insurance Company
Factors to Consider
Financial Stability Check the insurance company’s financial ratings and stability. Look for companies with strong asset bases and consistent profitability records.
Claims Payment History Research the company’s claims payment ratio and average processing time. Companies with higher claims payment ratios demonstrate better customer service.
Product Range Consider whether the company offers all the insurance products you need. Some insurers specialize in specific areas while others provide comprehensive coverage.
Premium Costs Compare premium rates across different companies, but don’t choose based on price alone. Consider the coverage quality and service levels offered.
Customer Service Evaluate the company’s customer service quality through reviews, response times, and service channels available.
Network Coverage For health insurance, check the hospital network. For motor insurance, consider the garage network and service centers.
Conclusion and Key Takeaways
Kenya’s insurance market offers diverse options for consumers seeking financial protection. In 2025, we analyzed the top 15 insurance companies alongside leading insurers in the USA, Nigeria, and Ghana to determine the best combination of financial stability, product variety, and customer service quality.
The insurance landscape in Kenya continues evolving with technological advancement and regulatory improvements. Choose an insurer that aligns with your specific needs, budget, and long-term financial goals. Remember that the cheapest option isn’t always the best – focus on value, service quality, and financial stability when making your decision.
Frequently Asked Questions
Q: Which insurance company has the best claims payment record in Kenya? A: Heritage Insurance leads with a 14.89% claims payment ratio, significantly higher than industry averages, indicating efficient claims processing and customer satisfaction.
Q: What’s the minimum insurance coverage required by law in Kenya? A: Third-party motor insurance is mandatory for all vehicles in Kenya. This covers damage to other people’s property and injuries to third parties in accidents you cause.
Q: How do I compare insurance companies effectively? A: Consider financial stability, claims payment ratios, product range, premium costs, customer service quality, and network coverage when comparing insurance providers.
Q: Can I buy insurance policies online in Kenya? A: Yes, most major insurance companies now offer online platforms for policy purchase, management, and claims reporting, making insurance more accessible and convenient.
Q: Which companies offer the best health insurance coverage? A: AAR Insurance and Jubilee Holdings offer extensive health insurance coverage with comprehensive hospital networks and medical benefits across Kenya.
