One of the founders and key shareholders of the betting firm SportPesa, Ronald Karauri, has partnered with others to enter the general insurance business, focusing on public service vehicles (PSVs) that have resulted in losses for many insurers.
A letter seen by the Business Daily shows that the Insurance Regulatory Authority (IRA) licensed Definite Assurance Company Limited as the newest general underwriter in the Kenyan market on December 11, 2024, after the company raised Sh600 million in capital and applied for the license.
