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Why IRA has put three insurers under caretaker management
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.
Three insurers have been placed under statutory management and barred from onboarding new businesses, following several memos from the regulator over various breaches including thin capital.
The Insurance Regulatory Authority (IRA) announced on Wednesday that it has placed three insurers —Trident Insurance Company, Kuscco Mutual Assurance Limited and Corporate Insurance Company— under the caretaker of Policyholders Compensation Fund (PCF).
