Magazine date:
Nov 2018 Insurance industry in Kenya: Ranking of life companies in 2017
In thousands| 2017 GWP | 2016 GWP | 2016-2017 evolution (1) | 2017 market shares | |||
|---|---|---|---|---|---|---|
| In KES | In USD | In KES | In USD | |||
Britam Life | 18 297 485 | 178 949 | 17 179 320 | 170 762 | 6.51% | 22.10% |
ICEA Lion Life Assurance | 13 015 715 | 127 294 | 9 525 606 | 94 685 | 36.64% | 15.72% |
Jubilee Insurance Company | 12 643 723 | 123 656 | 10 360 845 | 102 987 | 22.03% | 15.27% |
Pioneer Assurance Company | 5 213 923 | 50 992 | 5 292 116 | 52 604 | -1.48% | 6.30% |
CIC Life Assurance Company | 4 895 175 | 47 875 | 4 352 847 | 43 267 | 12.46% | 5.91% |
Kenindia Assurance Company | 4 641 315 | 45 392 | 3 947 011 | 39 233 | 17.59% | 5.60% |
Liberty Life Assurance Company | 4 502 800 | 44 037 | 4 325 797 | 42 998 | 4.09% | 5.44% |
Sanlam Life Insurance | 4 738 729 | 46 345 | 4 669 643 | 46 416 | 1.48% | 5.72% |
Madison Insurance Company | 2 604 247 | 25 470 | 2 381 167 | 23 669 | 9.37% | 3.14% |
UAP Life Assurance Company | 2 365 623 | 23 136 | 2 581 975 | 25 665 | -8.38% | 2.86% |
Old Mutual Life Assurance | 1 919 636 | 18 774 | 2 038 363 | 20 261 | -5.82% | 2.32% |
GA Life Assurance Company | 1 618 442 | 15 828 | 1 525 305 | 15 162 | 6.11% | 1.95% |
APA Life Assurance Company | 1 492 952 | 14 601 | 1 223 439 | 12 161 | 22.03% | 1.80% |
Barclays Life | 1 380 330 | 13 500 | 1 252 818 | 12 453 | 10.18% | 1.67% |
The Kenyan Alliance Insurance | 778 597 | 7 615 | 812 717 | 8 078 | -4.20% | 0.94% |
Metropolitan Cannon Insurance | 609 958 | 5 965 | 393 863 | 3 915 | 54.87% | 0.74% |
Kenya Orient Life Assurance | 422 987 | 4 137 | 290 023 | 2 883 | 45.85% | 0.51% |
Prudential Life Assurance | 318 189 | 3 112 | 158 781 | 1 578 | 100.39% | 0.38% |
Capex Life Assurance Company | 313 340 | 3 064 | 56 647 | 563 | 453.14% | 0.38% |
Corporate Insurance Company | 278 949 | 2 728 | 295 766 | 2 940 | -5.69% | 0.34% |
Saham Assurance | 221 543 | 2 167 | 250 595 | 2 491 | -11.59% | 0.27% |
Geminia Insurance Company | 178 136 | 1 742 | 288 016 | 2 863 | -38.15% | 0.22% |
First Assurance Company | 168 783 | 1 651 | 103 450 | 1 028 | 63.15% | 0.20% |
Cannon Assurance Company | 81 846 | 800 | 116 719 | 1 160 | -29.88% | 0.10% |
Takaful Insurance Of Africa | 58 896 | 576 | 52 657 | 523 | 11.85% | 0.07% |
The Monarch Insurance | 46 507 | 455 | 43 695 | 434 | 6.44% | 0.06% |
Total | 82 807 826 | 809 861 | 73 519 181 | 730 781 | 12.63% | 100% |
(1) Growth rate in local currency
Exchange rate as at 31/12/2017 : 1 KES = 0.00978 USD; as at 31/12/2016 : 1 KES = 0.00994 USD
Related article | Insurance industry in Kenya - 2018 [4]
Market share of the ten main life insurance companies in 2017
Insurance industry in Kenya: Ranking of non-life companies in 2017
In thousands| 2017 GWP | 2016 GWP | 2016-2017 evolution (1) | 2017 market shares | |||
|---|---|---|---|---|---|---|
| In KES | In USD | In KES | In USD | |||
Jubilee Insurance Company | 11 313 366 | 110 645 | 14 089 298 | 140 048 | -19.70% | 9.07% |
CIC General Insurance Company | 10 141 110 | 99 180 | 8 407 498 | 83 571 | 20.62% | 8.13% |
UAP Insurance Company | 9 668 823 | 94 561 | 10 982 069 | 109 162 | -11.96% | 7.75% |
APA Insurance Company | 8 100 695 | 79 225 | 8 995 974 | 89 420 | -9.95% | 6.49% |
Britam General Insurance | 8 042 401 | 78 655 | 6 997 226 | 69 552 | 14.94% | 6.45% |
ICEA Lion General Insurance | 6 051 487 | 59 184 | 6 304 587 | 62 668 | -4.01% | 4.85% |
Heritage Insurance Company | 5 914 746 | 57 846 | 5 340 179 | 53 081 | 10.76% | 4.74% |
AAA Insurance Kenya | 5 799 296 | 56 717 | 6 489 197 | 64 503 | -10.63% | 4.65% |
GA Insurance Company | 5 547 253 | 54 252 | 4 782 084 | 47 534 | 16.00% | 4.45% |
Resolution Insurance Company | 4 947 647 | 48 388 | 3 926 111 | 39 026 | 26.02% | 3.97% |
Madison Insurance Company | 3 887 817 | 38 023 | 3 102 440 | 30 838 | 25.31% | 3.12% |
AIG Insurance Company | 3 647 387 | 35 671 | 3 669 939 | 36 479 | -0.61% | 2.92% |
Geminia Insurance Company | 3 367 416 | 32 933 | 2 223 150 | 22 098 | 51.47% | 2.70% |
Directline Assurance Company | 3 086 231 | 30 183 | 3 224 740 | 32 054 | -4.30% | 2.47% |
Kenindia Assurance Company | 2 966 570 | 29 013 | 2 995 960 | 29 780 | -0.98% | 2.38% |
First Assurance Company | 2 907 036 | 28 431 | 3 930 952 | 39 074 | -26.05% | 2.33% |
Occidental Insurance Compnay | 2 586 468 | 25 296 | 2 033 090 | 20 209 | 27.22% | 2.07% |
African Merchant Assurance | 2 470 947 | 24 166 | 3 162 248 | 31 433 | -21.86% | 1.98% |
Fidelity Shield Insurance | 2 360 848 | 23 089 | 1 717 327 | 17 070 | 37.47% | 1.89% |
Mayfair Insurance Company | 2 353 359 | 23 016 | 2 302 051 | 22 882 | 2.23% | 1.89% |
Sanlam General Insurance | 2 154 916 | 21 075 | 1 002 199 | 9 962 | 115.02% | 1.73% |
Saham Insurance Company | 2 138 854 | 20 918 | 1 563 081 | 15 537 | 36.84% | 1.71% |
Invesco Assurance Company | 2 070 192 | 20 246 | 2 300 894 | 22 871 | -10.03% | 1.66% |
Kenya Orient Insurance | 1 847 116 | 18 065 | 2 525 565 | 25 104 | -26.86% | 1.48% |
Trident Insurance Company | 1 331 851 | 13 026 | 1 295 773 | 12 880 | 2.78% | 1.07% |
Cannon Assurance Company | 1 269 815 | 12 419 | 1 725 576 | 17 152 | -26.41% | 1.02% |
Pacis Insurance Company | 1 217 078 | 11 903 | 1 042 138 | 10 359 | 16.79% | 0.98% |
The Monarch Insurance | 1 160 023 | 11 345 | 1 051 639 | 10 453 | 10.31% | 0.93% |
The kenyan Alliance Insurance | 1 156 074 | 11 306 | 1 095 923 | 10 893 | 5.49% | 0.93% |
Tausi Assurance Company | 1 045 524 | 10 225 | 963 338 | 9 576 | 8.53% | 0.84% |
Intra-Africa Assurance | 1 034 427 | 10 117 | 1 014 260 | 10 082 | 1.99% | 0.83% |
Takaful Insurance Of Africa | 847 828 | 8 292 | 816 450 | 8 116 | 3.84% | 0.68% |
XPLICO Insurance Company | 804 370 | 7 867 | 1 229 298 | 12 219 | -34.57% | 0.64% |
Phoenix Of East Africa | 557 912 | 5 456 | 438 726 | 4 361 | 27.17% | 0.45% |
Allianz Insurance Company | 346 886 | 3 393 | 63 060 | 627 | 450.09% | 0.28% |
Pioneer General Insurance | 325 518 | 3 184 | - | - | - | 0.26% |
Corporate Insurance Company | 310 323 | 3 035 | 312 615 | 3 107 | -0.73% | 0.25% |
Total | 124 779 610 | 1 220 345 | 123 116 655 | 1 223 780 | 1.35% | 100% |
(1) Growth rate in local currency
Exchange rate as at 31/12/2017 : 1 KES = 0.00978 USD; as at 31/12/2016 : 1 KES = 0.00994 USD
Market share of the ten main non life insurance companies in 2017
