Seven insurance companies have come under scrutiny from the Insurance Regulatory Authority (IRA) after failing to submit mandatory quarterly returns, limiting the regulator’s ability to assess their financial performance and compliance with industry regulations.
The affected firms are Definite Assurance Company, Kenyan Alliance Insurance Company Limited (General), Kenyan Alliance Insurance Company Limited (Life), Monarch Insurance Company Limited (General), Monarch Insurance Company Limited (Life), Star Discover Micro Insurance Limited and Birdview Micro Insurance.
In its latest industry report, the IRA said the companies were excluded from its quarterly performance analysis because they failed to comply with reporting requirements.
“The report includes data for all the insurers, reinsurers and microinsurers regulated by the Authority except for Definite Assurance Company, The Kenyan Alliance Insurance Company Limited-General, The Monarch Insurance Company Limited-General, The Kenyan Alliance Insurance Company Limited-Life, The Monarch Insurance Company Limited-Life, Star Discover Micro Insurance Limited and Birdview Micro Insurance due to non-compliance with the submission requirements,” the regulator said.
The authority also clarified that publication of the report should not be interpreted as confirmation that the returns submitted by other insurers fully comply with the Insurance Act or that they have been verified for accuracy.
Separately, the IRA noted that Continental Reinsurance Plc Life was excluded from the report because it ceased operations at the end of 2025 after transferring its capital and assets to Continental Reinsurance Plc-General as part of a corporate restructuring. The regulator said this was different from the companies that failed to submit their returns.
Quarterly returns are a key regulatory requirement that enables the IRA to monitor the financial health of insurance companies, assess compliance with industry rules and safeguard the stability of the insurance sector.
Failure to submit the returns can weaken regulatory oversight and reduce the availability of important financial information for policyholders, investors and other stakeholders.
The disclosure comes at a time when Kenya’s insurance industry continues to record strong growth.
According to the IRA, the sector’s gross written premiums increased by 19.9 percent to Sh155.3 billion in the first quarter of 2026, up from Sh129.5 billion recorded during the same period last year.
The industry’s net profit also rose by 43.3 percent to Sh7.05 billion, reflecting improved performance across the insurance market despite the compliance concerns involving the seven firms.
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