Kenya Orient Life Assurance gets its license

Kenya Orient has obtained its license from the insurance authority (IRA) to operate on the life market in Kenya.

Already present on the non-life market, Kenya Orient Insurance comes in the life market via its subsidiary Kenya Orient Life Assurance Ltd. The company, led by Tom Omiti, will offer individual and group life insurance products and use bancassurance as main distribution channel.

This new entity increases to 10 the number of companies operating on the life insurance market in Kenya. As a reminder, the latter has recorded 149.9 million USD of gross premiums at the first quarter of 2014, an increase of 21% compared to the first three months of 2013.