The Policyholders Compensation Fund (PCF) has paid out Sh390.8 million to policyholders and claimants affected by the collapse of insurance companies, as it begins processing compensation claims for customers of Trident Insurance Company Limited.
In a statement, the Fund said it had settled 2,146 claims worth Sh390.85 million as of March 31, 2026, for policyholders of insurers placed under statutory management or liquidation.
Xplico Insurance accounted for the largest compensation payout at Sh137.8 million, followed by Invesco Assurance at Sh101.4 million, Resolution Insurance at Sh92.4 million, BlueShield Insurance at Sh44.6 million, Concord Insurance at Sh9 million, Standard Assurance at Sh4.6 million and United Insurance at Sh1 million.
The update comes as the Fund announced the commencement of compensation claims for Trident Insurance Company Limited, which was placed under statutory management earlier this year.
“The public is hereby notified that the claims compensation process for Trident Insurance Company Limited (Under Statutory Management) has commenced. Policyholders, claimants and other affected parties are encouraged to lodge their claims with the Policyholders Compensation Fund (PCF),” the Fund said.
It added that compensation processes for KUSCCO Mutual Assurance Company Limited and Corporate Insurance Company Limited will begin later.
“The commencement of the claims compensation process for KUSCCO Mutual Assurance Company Limited and Corporate Insurance Company Limited will be communicated in due course through a public notice,” the Fund said.
The announcement follows the decision by the Commissioner of Insurance on March 10, 2026, to place Trident Insurance, KUSCCO Mutual Assurance Company Limited and Corporate Insurance Company Limited under statutory management, with the Policyholders Compensation Fund appointed as the statutory manager.
PCF said many policyholders affected by collapsed insurance companies remain unaware that they are eligible for compensation, prompting the Fund to intensify public awareness through its PCFMtaani campaign.
The initiative, which is currently being rolled out in Murang’a County, seeks to educate members of the public on the Fund’s role as a financial safety net, encourage eligible claimants to submit compensation claims and strengthen confidence in Kenya’s insurance industry.
According to the Fund, the campaign has so far reached 14 counties since its launch in 2023, targeting transport operators, insurance agents, teachers, cooperatives, religious leaders and local administrators.
PCF urged individuals who held policies with collapsed insurance companies but are yet to lodge claims or receive compensation to submit their applications through its offices or official online platforms.
Under the current compensation framework, eligible claimants can receive up to Sh500,000 per claim in accordance with Gazette Notice No. 971 of January 23, 2026.
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