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Why court okayed liquidation of collapsed Xplico Insurance
Commissioner of Insurance and Insurance Regulatory Authority (IRA) Chief Executive Officer, Mr Godfrey Kiptum speaking during the 19th Annual Regional Conference of the Association of Insurance Brokers of Kenya (AIBK) held at Sarova Whitesands Beach Resort, Mombasa on November 6, 2025.
The High Court has allowed the liquidation of Xplico Insurance, sealing the fate of the nearly two-decade-old insurer after it failed to settle Sh4.12 billion in 8,982 policyholder claims.
The court, in granting the Insurance Regulatory Authority (IRA) the permission to liquidate the insurer, said continued operation would expose the public to further loss given that there is no viable recovery or restructuring plan on the table.
