Stima DT-Sacco has restructured its insurance subsidiary from an insurance agent into a fully fledged broker to negotiate offers for its members.
Mpawa Insurance Brokerage was formerly Mpawa Insurance Agency. It will now negotiate life and health insurance, general insurance, SME covers, agricultural insurance, digital micro-covers, credit life, motor, domestic and specialised group products for members.
A commercial insurance broker acts as an intermediary between insurance providers and customers, helping clients find the most suitable insurance coverage that meets their specific needs and requirements at the most affordable premium.
An agent, while also an intermediary, works for the insurance company to sell its products.
“Unlike an agency, a brokerage exists solely to represent the client. This independence is the foundation of trust, and it allows Mpawa to source, compare and negotiate across the entire insurance market for the benefit of members,” said Stima Sacco Chief Executive Gamaliel Hassan during the launch on Wednesday.
Mpawa Insurance Brokerage draws more than 90 percent of its business from sacco members, he said. The subsidiary is also pursuing a technology-enabled operating model to have digital onboarding, integrated binder systems, automated reconciliations, real-time dashboards across underwriting and claims, and multi-channel customer journey mapping by the end of 2026.
Stima Sacco was established in 1974, initially serving employees of the utility firm now called Kenya Power. It has since expanded to open membership to all sectors and is one of Kenya’s largest deposit-taking Saccos.
Stima Sacco’s total deposits grew by eight percent to Sh46.69 billion in 2024, up from Sh43.13 billion in 2023. Its loan book grew by 11 percent to Sh50.24 billion, rising from Sh45.15 billion in the same period.
Mpawa was formed in 2018 as a special-purpose entity to cater to Stima Sacco’s insurance needs of members. At the end of 2025, its gross written premium portfolio had grown to over Sh600 million, according to sacco’s national chairman Joseph Siror.
“Within its first three years, Mpawa’s gross written premium portfolio grew from Sh148 million to over Sh600 million by 2025, clearly demonstrating both latent demand and significant operational potential,” Dr Siror said.
The Sacco’s shareholders approved the insurance brokerage move last year as part of a revenue diversification strategy. The strategy has also seen the firm invest in Treasury bills and bonds, as well as in unquoted equities not listed on the Nairobi Securities Exchange.
Mpawa is betting on its branches and networks across the country under Stima Sacco’s infrastructure to scale faster than many new entrants in the insurance brokerage market.
