Kenya’s Richest Insurance Firms In 2026 And The Business Leaders Behind Them
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Kenya has about 59 licensed insurance companies.
According to the Insurance Regulatory Authority (IRA), Kenya’s insurance industry collected KSh 466.58 billion in premiums in 2025.
This was a 16.5% increase from KSh 400.59 billion in 2024.
In this article, WoK has compiled a list of Kenya’s richest insurance firms and their leaders.
1. Britam Insurance
Britam Insurance has been in operation for about 61 years. The company has two arms, i.e Britam Life Assurance and Britam General Insurance.
Britam Life Assurance controlled 22.6% of Kenya’s insurance market in 2025 in terms of premium income, having generated KSh 53.14 billion in premiums.
On the other hand, Britam General Insurance collected KSh 14.94 billion, representing 6.6% of the general insurance market.
The company provides life assurance, medical insurance, motor insurance, property protection, retirement products, and investment management.
Britam is led by Tom Gitogo, who was appointed Group Managing Director and CEO on September 1, 2022.
2. CIC Insurance
Established in 1968, CIC Insurance is one of Kenya’s largest insurance providers.
In 2025, the company generated KSh 20.64 billion in premiums, which covered 9.1% of Kenya’s general insurance market.
CIC Life Assurance also collected KSh 13.27 billion, which made up 5.6% of life insurance premiums.
The company provides motor, medical, agricultural, property and life insurance, alongside pension and asset management services.
CIC Insurance Group PLC is led by Patrick Nyaga, who previously served as the Group Finance and Strategy Director at Cooperative Bank of Kenya
3. ICEA LION
ICEA LION traces its roots to 1895.
However, the current structure of the company emerged in 2012 following the merger of two other insurance companies, i.e Insurance Company of East Africa and Lion of Kenya Insurance.
ICEA’s share of the life insurance market in 2025 was 13.9%, having generated KSh 32.81 billion in premiums.
ICEA’S product portfolio includes life assurance, motor insurance, property protection, pension administration and asset management.
The company is owned by the family of the late Philip Ndegwa, who was a former Governor of the Central Bank of Kenya
James Ndegwa chairs the group’s board, while his brother Andrew Ndegwa is a director.
The Group CEO of the company is Philip Lopokoiyit.
4. Jubilee Insurance
Founded in 1937, Jubilee Insurance has operated in East Africa for about 89 years.
The company provides life insurance, health insurance, pensions, and investment management services.
Jubilee enjoyed a market share of 13% of Kenya’s life insurance market, with the company generating ksh 30.65 billion in premiums.
Since 2018, Jubilee Insurance has been led by Dr. Julius Kipng’etich.
Following his retirement on 30th November, Jubilee appointed Juan Cazcarra as the new group CEO effective 1 December 2026.
Cazcarra joined Jubilee in 2021 and has been serving as the company’s Deputy Group CEO since April 2025.
5. APA Insurance
APA Insurance, which operates under APA Apollo Group, had a market share of about 8.5% in 2025, having generated ksh 19.38 billion in general insurance premiums.
The company’s life insurance subsidiary collected another KSh 14.52 billion, which amounted to 6.2% of life insurance premiums.
APA provides medical, motor, agricultural, marine, property and life insurance.
APA Insurance is led by Risper Genga Ohaga, who is the CEO.
Ohaga joined the company in July 2026 after serving as Group Chief Financial Officer at East African Breweries Limited.
6. GA Insurance
GA Insurance is one of the oldest insurance companies in Kenya.
It started as General Accident, a British insurance company, and was incorporated in Kenya’s insurance market in 1979.
In 2025, GA Insurance generated KSh 17.11 billion in general insurance premiums. This was a market share of about 7.5%.
GA Life Assurance collected another KSh 13.02 billion, which was about 5.5% of life insurance premiums.
The company provides medical, motor, marine, aviation, property, engineering, and life insurance.
GA Insurance Kenya is led by Madhav Kumar, who has been the company’s CEO and Principal Officer since April 3, 2025.
7. Definite Assurance
Unlike most of the names on this list, Definite Assurance is one of Kenya’s youngest insurance companies.
The company began operating in 2025 after receiving its operating license on December 11, 2024.
Some of the major shareholders of Definite Assurance are SportPesa CEO and Kasarani MP Ronald Karauri, Quiver Lounge & Grill founder Peter Mbugua, and businessman Kushian Muchiri.
An October report by Business Daily stated that Definite controlled 25.03% of Kenya’s commercial PSV insurance market in June 2026, beating other companies like Directline Assurance and AMACO.
Definite Assurance is led by Hezron Wambugu, an insurance executive who previously worked at Kenya Orient Insurance.
