Magazine date:
Apr 2023 Life insurance companies in Kenya
Figures in thousands
| Life companies | 2022 turnover | 2021 turnover | 2021-2022 evolution (1) | 2022 shares | ||
|---|---|---|---|---|---|---|
| KES | USD | KES | USD | |||
| Britam Life | 28 384 667 | 228 497 | 25 894 130 | 227 351 | 9.62% | 9.16% |
| ICEA Lion Life | 20 700 300 | 166 637 | 20 000 486 | 175 604 | 3.50% | 6.68% |
| Jubilee | 17 844 769 | 143 650 | 13 955 478 | 122 529 | 27.87% | 5.76% |
| Kenindia | 8 879 272 | 71 478 | 11 126 721 | 97 693 | -20.20% | 2.87% |
| CIC Life | 8 800 988 | 70 848 | 6 996 919 | 61 433 | 25.78% | 2.84% |
| Sanlam Life | 7 804 740 | 62 828 | 8 523 941 | 74 840 | -8.44% | 2.52% |
| GA Life | 7 478 342 | 60 201 | 5 127 574 | 45 020 | 45.85% | 2.41% |
| ABSA Life | 5 705 249 | 45 927 | 4 933 861 | 43 319 | 15.63% | 1.84% |
| Old Mutual Life | 5 203 406 | 41 888 | 4 615 076 | 40 520 | 12.75% | 1.68% |
| Liberty Life | 4 956 049 | 39 896 | 5 064 630 | 44 467 | -2.14% | 1.60% |
| APA Life | 4 827 634 | 38 862 | 3 175 502 | 27 881 | 52.03% | 1.56% |
| Equity Life | 4 183 274 | 33 675 | - | - | - | 1.35% |
| Pioneer | 3 723 277 | 29 972 | 3 944 603 | 34 634 | -5.61% | 1.20% |
| Madison | 3 441 124 | 27 701 | 3 421 663 | 30 042 | 0.57% | 1.11% |
| Prudential Life | 2 001 709 | 16 114 | 1 197 770 | 10 516 | 67.12% | 0.65% |
| Kuscco Mutual Limited | 1 687 282 | 13 583 | 1 418 284 | 12 453 | 18.97% | 0.55% |
| The Kenyan Alliance | 1 263 052 | 10 168 | 1 012 736 | 8 892 | 24.72% | 0.41% |
| Kenya Orient Life | 1 240 689 | 9 988 | 1 341 479 | 11 778 | -7.51% | 0.40% |
| Geminia Life | 1 132 290 | 9 115 | 815 174 | 7 157 | 38.90% | 0.37% |
| Capex Life | 1 031 420 | 8 303 | 458 647 | 4 027 | 124.88% | 0.33% |
| Metropolitan Cannon (2) | 442 993 | 3 566 | 392 238 | 3 444 | 12.94% | 0.14% |
| The Monarch | 112 275 | 904 | 108 443 | 952 | 3.53% | 0.04% |
| Corporate | - | - | 187 788 | 1 649 | - | - |
| Total vie | 140 844 801 | 1 133 801 | 123 713 143 | 1 086 201 | 13.85% | 45.47% |
(1) Growth rate in local currency
(2) Metropolitan Cannon Insurance changed name to Cannon General Insurance
Non life insurance companies in Kenya
Figures in thousands
| Non life companies | 2022 turnover | 2021 turnover | 2021-2022 evolution (1) | 2022 shares | ||
|---|---|---|---|---|---|---|
| KES | USD | KES | USD | |||
| Old Mutual General | 14 858 672 | 119 612 | 13 183 224 | 115 749 | 12.71% | 4.80% |
| APA | 14 654 657 | 117 970 | 10 626 654 | 93 302 | 37.90% | 4.73% |
| GA | 13 919 501 | 112 052 | 11 021 966 | 96 773 | 26.29% | 4.49% |
| CIC General | 13 860 381 | 111 576 | 11 422 041 | 100 286 | 21.35% | 4.47% |
| Britam General | 10 850 662 | 87 348 | 9 881 856 | 86 763 | 9.80% | 3.50% |
| Jubilee Health | 9 001 961 | 72 466 | 9 342 283 | 82 025 | -3.64% | 2.91% |
| Madison | 7 749 676 | 62 385 | 5 784 650 | 50 789 | 33.97% | 2.50% |
| ICEA LION General | 7 301 806 | 58 780 | 6 331 148 | 55 587 | 15.33% | 2.36% |
| AAR | 7 243 552 | 58 311 | 6 686 858 | 58 711 | 8.33% | 2.34% |
| Heritage | 7 048 403 | 56 740 | 6 331 469 | 55 590 | 11.32% | 2.28% |
| Geminia | 5 731 603 | 46 139 | 4 800 247 | 42 146 | 19.40% | 1.85% |
| Mayfair | 5 520 094 | 44 437 | 4 262 082 | 37 421 | 29.52% | 1.78% |
| First | 5 507 500 | 44 335 | 4 513 423 | 39 628 | 22.02% | 1.78% |
| Directline | 4 268 900 | 34 365 | 3 589 899 | 31 519 | 18.91% | 1.38% |
| Jubilee General | 4 004 876 | 32 239 | 3 489 031 | 30 634 | 14.78% | 1.29% |
| AIG | 3 619 995 | 29 141 | 3 224 828 | 28 314 | 12.25% | 1.17% |
| MUA | 3 590 644 | 28 905 | 3 554 095 | 31 205 | 1.03% | 1.16% |
| Sanlam | 3 298 535 | 26 553 | 4 857 950 | 42 653 | -32.10% | 1.06% |
| Fidelity Shield | 3 094 822 | 24 913 | 2 281 326 | 20 030 | 35.66% | 1.00% |
| Occidental | 2 819 533 | 22 697 | 3 124 815 | 27 436 | -9.77% | 0.91% |
| Kenindia | 2 372 032 | 19 095 | 2 580 576 | 22 657 | -8.08% | 0.77% |
| Kenya Orient | 2 176 188 | 17 518 | 1 684 630 | 14 791 | 29.18% | 0.70% |
| Trident | 2 152 828 | 17 330 | 1 190 787 | 10 455 | 80.79% | 0.70% |
| Intra-Africa | 2 135 782 | 17 193 | 1 544 171 | 13 558 | 38.31% | 0.69% |
| Pacis | 1 965 148 | 15 819 | 1 667 830 | 14 644 | 17.83% | 0.63% |
| Tausi | 1 645 871 | 13 249 | 1 322 354 | 11 610 | 24.47% | 0.53% |
| Pioneer | 1 635 759 | 13 168 | 1 403 556 | 12 323 | 16.54% | 0.53% |
| The Kenyan Alliance | 1 547 564 | 12 458 | 1 937 874 | 17 015 | -20.14% | 0.50% |
| Metropolitan Cannon (2) | 1 342 135 | 10 804 | 1 590 938 | 13 968 | -15.64% | 0.43% |
| Invesco | 1 224 797 | 9 860 | - | - | - | 0.40% |
| African Merchant | 1 035 998 | 8 340 | 1 008 357 | 8 853 | 2.74% | 0.33% |
| Takaful Insurance Of Africa | 935 012 | 7 527 | 910 129 | 7 991 | 2.73% | 0.30% |
| Xplico | 809 362 | 6 515 | - | - | - | 0.26% |
| Resolution | - | - | 4 158 397 | 36 511 | - | - |
| The Monarch | - | - | 1 223 585 | 10 743 | - | - |
| Allianz | - | - | 1 150 690 | 10 103 | - | - |
| Corporate | - | - | 667 264 | 5 859 | - | - |
| Total non vie | 168 924 249 | 1 359 840 | 152 350 983 | 1 337 642 | 10.88% | 54.53% |
(1) Growth rate in local currency.
(2) Metropolitan Cannon Insurance changed name to Cannon General Insurance.
Composite companies appear in the life and non-life rankings.
Exchange rate as at 31/12/2022 : 1 KES = 0.00805 USD ; 31/12/2021 : 1 KES = 0.00878 USD.
Read also | Kenyan insurance market [4]
