Top 10 Best Insurance Companies in Kenya
The best insurance companies in Kenya play an important role in financial planning and risk management by providing essential protection against life’s unexpected events. Choosing among the best insurance companies in Kenya ensures that individuals and businesses can confidently manage financial risks, such as medical emergencies, property loss, or income disruptions. Getting insurance coverage from these leading insurance companies in Kenya not only safeguards your assets but also guarantees the financial security of your loved ones. We spend time analysing the IRA Report so that you don’t have to.
Table of Contents
Top 10 Insurance Companies in Kenya
| Rank | Insurer | Key strengths (products | claims | responsiveness | price) | Market‑share | 2023 GWP (KES ’Billion) |
|---|---|---|---|---|
| 1 | APA |
• Broad general & medical line‑up (motor / health / specialty). • Fast motor‑claims pay‑out < 5 days via digital portal. • 24‑hour call‑centre + “hAPPiness” self‑service app. • Competitive fleet & SME rates with multi‑policy discounts. |
8.87 % | 16.72B |
| 2 | Old Mutual |
• Integrated life, general & investment products on one super‑app. • Average claim turn‑around ≈ 10 working days. • Omni‑channel support (branch, chat, phone). • Value‑priced insurance‑plus‑investment bundles. |
8.78 % | 16.55B |
| 3 | CIC |
• Strong in micro‑, agri‑ & co‑op‑based covers. • Parametric crop claims settled within season. • Dense rural agent network for personal touch. • Affordable premiums for low‑ & middle‑income families. |
8.20 % | 15.45B |
| 4 | GA Insurance |
• Niche products: marine, medical, new EV motor policy. • In‑house assessors speed up motor/engineering claims. • 24/7 helpline & battery‑rescue for EVs. • Sharp marine‑cargo rates, bulk‑cargo discounts. |
8.09 % | 15.24B |
| 5 | Britam |
• Full suite: life, general, health, pensions & investments. • Digital claims portal trims TAT to ± 7 days. • Chatbot + call centre + branch network. • Flexible micro‑insurance & pay‑as‑you‑go pricing. |
7.99 % | 15.06B |
| 6 | Jubilee Health |
• Comprehensive local & global medical plans. • Cash‑less hospital network and fast inpatient pre‑auth. • 24‑hour tele‑medicine & agent support. • Tiered pricing lets clients match benefits to budget. |
5.41 % | 10.19B |
| 7 | AAR |
• Health & travel specialists with Kenya’s widest clinic network. • e‑Claims reimburse outpatient bills in ≤ 3 days. • “MyWakalAAR” portal for instant policy issuance. • Wellness add‑ons lower total cost of care. |
4.59 % | 8.65B |
| 8 | ICEA Lion |
• Diverse life, general & investment products, high bonus rates. • Paper‑less claims upload & SMS status alerts. • Customer hotline + branch & broker desks. • Bundle discounts and loyalty rebates keep prices keen. |
4.42 % | 8.34B |
| 9 | Madison |
• Family‑friendly life & medical plans (Betterlife series). • Claims TAT now ≈ 8 days after 2024 process revamp. • Improved broker portal & WhatsApp servicing. • Budget‑conscious premiums for middle‑income market. |
4.28 % | 8.06B |
| 10 | Heritage |
• Strong motor, property & corporate medical lines. • Flagship AutoCorrect motor‑insurance with roadside assistance & repair guarantees. • Average motor‑claim pay‑out ≈ 5 days. • 24/7 self‑service eInsurance dashboard. • Highly competitive fleet & group‑medical rates. |
3.96 % | 7.47B |
Need Help Comparing Kenya’s Top Insurers?
Chat with a licensed advisor at Amssurity Insurance Agency. We translate jargon, fight for your claims and hunt the best deal—free of charge.
Chat Us on WhatsApp 📱Spotlight on the best insurance companies in Kenya
At Amssurity, we prioritise collaborating with top insurance companies in Kenya to convert uncertainty into assurance, allowing you to chase your goals with confidence, secure in the knowledge that you are safeguarded when it counts.
The criteria we shall be using to discuss the above best insurance companies in Kenya include:
Financial stability:
This will focus on the market share and gross written premium by the top 10 insurance companies in Kenya.
| Rank | Insurer | Market‑share | 2023 GWP (KES ’Billon) |
|---|---|---|---|
| 1 | APA | 8.87 % | 16.72B |
| 2 | Old Mutual | 8.78 % | 16.54B |
| 3 | CIC | 8.20 % | 15.45B |
| 4 | GA Insurance | 8.09 % | 15.24B |
| 5 | Britam | 7.99 % | 15.06B |
| 6 | Jubilee Health | 5.41 % | 10.19B |
| 7 | AAR | 4.59 % | 8.65B |
| 8 | ICEA Lion | 4.42 % | 8.34B |
| 9 | Madison | 4.28 % | 8.06B |
| 10 | Heritage | 3.96 % | 7.46B |
Customer satisfaction:
If you want to know the best paying insurance company in Kenya, you will need to look at various factors like customer satisfaction, the total claims paid considering the number of claims submitted, i.e. the claim-payment ratio. The higher the payment-claim ratio (percentage), the more reliable an insurance company is. The table below provides a summary of the liability paid-claims ratio and non-liability paid-claims ratio for the top ten insurance companies in Kenya.
Claims settlement. Looking at the Claim‑payment ratio = (number of claims paid ÷ total claims) × 100 with the industry being: Liability 8.63 % and Non‑liability 65.96 % .
Claim-Payment ratio
| Insurer | Liability paid‑claims ratio (%) | Non‑liability paid‑claims ratio (%) |
|---|---|---|
| APA Insurance | 7.2 | 28.0 |
| Old Mutual General | 6.6 | 19.7 |
| CIC General | 25.9 | 48.6 |
| GA Insurance | 5.3 | 35.3 |
| Britam General | 15.9 | 23.2 |
| Jubilee Health* | — (no liability book) | 81.1 |
| AAR Insurance | 4.0 | 60.9 |
| ICEA Lion General | 19.3 | 23.8 |
| Madison General | 31.2 | 37.4 |
| Heritage Insurance | 10.7 | 25.0 |
What do these numbers mean for the top 10 insurance companies in Kenya?
Consistent high performers :
- Jubilee Health tops the non‑liability table at 81 %, settling eight of every ten health claims, well above the 66 % industry mark.
- Madison and CIC lead on liability at 31 % and 26 % respectively, three‑plus times the market average, signalling robust third‑party claim handling.
Balanced, but still room to improve
- Britam posts a solid 16 % on liability (nearly double the market) but lags at 23 % on policyholder claims, hinting at bottlenecks in routine medical & motor payouts.
- ICEA Lion mirrors that pattern—strong liability (19 %) yet modest non‑liability (24 %).
Low liability settlement speed
GA (5 %), AAR (4 %) and Old Mutual (7 %) sit below the 8.6 % benchmark, indicating slower closure of third‑party files—often the costliest if left open.
APA’s mixed picture
Liability ratio is slightly under the market (7 %), and non‑liability is far below (28 %), suggesting resources may be concentrated on reserves.
Strengths & watch‑outs
- AAR’s medical‑claims engine is efficient (61 %), so focusing on liability could lift its overall claims reputation.
- Heritage is just above average on liability (11 %) but trails on policyholders (25 %); tighter workflow on day‑to‑day claims would help.
- GA and Old Mutual would benefit from accelerated liability settlement to reduce outstanding reserves and legal exposure.
Loss ratio
| Insurer | Net‑earned premium (KES ’Billion) | Incurred claims (KES ’Billion) | Loss ratio |
|---|---|---|---|
| AAR Insurance Kenya | 6.53B | 4.85B | 74.4 % |
| APA Insurance | 9.68B | 6.95B | 71.8 % |
| Britam General | 8.82B | 5.65B | 64.0 % |
| CIC General | 12.88B | 8.77B | 68.2 % |
| GA Insurance | 7.029B | 4.62B | 65.8 % |
| Jubilee Health* | 9.94B | 7.92B | 79.7 % |
| ICEA Lion General | 4.23B | 2.12B | 50.2 % |
| Madison Insurance | 6.24B | 4.11B | 65.9 % |
| Old Mutual General | 13.97B | 9.69B | 69.3 % |
| Heritage Insurance | 4.56B | 2.21B | 48.5 % |
Key insights
- Medical-focused companies are feeling the pressure; both Jubilee Health and AAR have medical loss ratios close to or exceeding 75%, reflecting the overall industry medical figure of 78.9% for the year 2023.
- APA and Old Mutual are on the verge of turning a profit: their ratios fall within the 70% range, leaving a slim margin when commissions and management costs (approximately another 35% combined across the industry) are considered.
- ICEA Lion and Heritage stand out with their strong underwriting discipline. Boasting ratios below 50%, they can cover expenses while still achieving an underwriting profit.
- CIC, GA, Britam, and Madison are positioned in the mid-60% range, generally in line with the overall business average claims ratio of 67.7% for 2023. Adjusting tariffs or tightening claims management could help them reach profitability.
Insurance product diversity:
This particular criterion will help you understand which of the best insurance companies in Kenya will provide the best coverage for your needs.
| Insurer | Mix of written premium (top insurance products) | How concentrated? | Take‑away |
|---|---|---|---|
| APA | Motor ≈ 39 % • Medical ≈ 22 % • Fire Ind. ≈ 15 % • 10 others share balance | High diversity | Balanced “all‑risk” book; no single line > 40 %. |
| Old Mutual | Medical ≈ 33 % • Motor ≈ 22 % • Marine ≈ 9 % • WIBA ≈ 7 % • Liability ≈ 5 % | High diversity | Five sizeable classes spread risk across retail & marine. |
| CIC | Motor ≈ 42 % • Medical ≈ 28 % • WIBA ≈ 14 % • Liability ≈ 7 % | Moderate–high | Motor‑heavy but four strong lines for one‑stop cover. |
| GA Insurance | Medical ≈ 36 % • Marine ≈ 16 % • Motor ≈ 18 % • Fire Ind. ≈ 15 % • Liability ≈ 8 % | High diversity | Uncommon balance between health, cargo & property. |
| Britam | Motor ≈ 37 % • Medical ≈ 28 % • Marine ≈ 10 % • PA ≈ 6 % | High diversity | Four pillars share premium; motor still prime. |
| Jubilee Health | Medical ≈ 92 % • Others < 4 % each | Low | Medical specialist—depth not breadth. |
| AAR | Medical ≈ 96 % • Other lines < 4 % | Very low | Pure‑play health writer; pair with another carrier for assets. |
| ICEA Lion | Medical ≈ 39 % • Motor ≈ 26 % • Fire/Eng. ≈ 12 % • PA ≈ 9 % | Moderate | Health & motor dominate, but property/PA add spread. |
| Madison | Medical ≈ 93 % • WIBA/PA/Liability ≈ 2 % each | Very low | Medical‑centric at smaller scale—sharp pricing in health niche. |
| Heritage | Motor ≈ 50 % • Medical ≈ 33 % • Fire Ind. ≈ 5 % • Liability ≈ 5 % | Moderate | Motor‑centric but has meaningful medical & property lines. |
How to read it
- High diversity = No single class makes up more than 50% of the total, with at least three classes each contributing 10% or more.
- Moderate = One category falls between 33% and 50%, or there are only two additional classes that meet or exceed the 10% threshold.
- Low / Very low = One product (usually in the medical field) accounts for over 70% of the premium, with other products considered minor.
| Scenario | Best‑fit insurers (diverse) | Rationale |
|---|---|---|
| Corporate client bundling property, marine & medical | APA, GA, Old Mutual, Britam | Each carries 3–4 sizeable classes, enabling volume discounts and one‑policy admin. |
| SME seeking sharpest medical‑only rates | Jubilee Health, AAR, Madison | Pure‑play medical specialists offer deeper provider networks and tighter pricing. |
| Fleet owner needing fast motor claims + driver wellness | Heritage, CIC | Motor‑heavy books with respectable health add‑ons for integrated fleet solutions. |
Why the numbers matter
When it comes to the top 10 insurance companies in Kenya, it is important to know that your overall experience and insurance product availability are dependent on the insurance numbers. In addition, they will help in assessing risk, determining premiums, ensuring financial stability, and measuring performance. Here are 7 reasons why insurance numbers matter:
- Risk Evaluation & Premium Setting: Insurance companies utilise data to evaluate risk and determine fair premium rates based on factors such as age, health status, and claims history.
- Claims Processing: The volume of claims enables insurers to forecast future claim occurrences and modify policies accordingly.
- Loss Ratios: Loss ratios assess an insurer’s profitability by comparing the amount of claims incurred to the premiums earned. A lower ratio signifies greater financial efficiency.
- Financial Viability: Financial indicators like revenue and reserves demonstrate an insurer’s capability to fulfil obligations and settle claims.
- Market Presence & Expansion: market share indicates an insurer’s competitive edge and ability to attract clients, while growth rates reflect the expansion of the business.
- Customer Experience: metrics such as retention rates and satisfaction with claims service reveal the quality of an insurer’s service and the trust of its customers.
- Regulatory Compliance: Financial ratios ensure that insurers adhere to industry regulations and maintain solvency.
Importance of market position
The top 10 best insurance companies in Kenya have understood why their position in the marketplace as this holds key to their success. Some good considerations for you to know are”
- Brand Recognition and Trust: A strong market presence enhances brand visibility, promoting customer confidence and loyalty. Well-established brands like Jubilee Health and AAR Insurance benefit from consumer familiarity, making them preferred options.
- Competitive Edge: Top companies enjoy economies of scale, allowing them to provide lower premiums, a variety of products, and exceptional customer service, thereby distinguishing themselves from rivals.
- Financial Stability: A robust market position reflects financial strength, attracting investors and facilitating growth. This stability guarantees reliable service and fosters consumer trust.
- Regulatory Influence: Market leaders frequently excel in adhering to the Insurance Regulatory Authority (IRA) standards, positioning themselves at the forefront of regulation and advocacy efforts.
- Customer Acquisition and Retention: A strong market position aids in acquiring and retaining customers. Established insurers can access underserved demographics and offer customized products, particularly for younger, tech-savvy clients.
- Innovation: Insurers with significant market share can innovate more rapidly, introducing new offerings such as micro-insurance and utilizing technology to enhance service delivery.
- Cost Efficiency and Risk Diversification: Prominent insurers can handle risks more effectively, providing customers with better value through a range of diversified products and streamlined operations.
Trends shaping Kenya’s insurance scene in 2025
The best insurance companies in Kenya are becoming trend setters in the adoption of technology. Some important trends to take note in 2025 in Kenya are:
- Embedded & Micro-insurance: With solutions like Britam Connect and M-PESA mini-covers, efficient APIs will engage the next 10 million Kenyans in formal insurance coverage.
- Green & Climate Risk Products: GA’s electric vehicle insurance and CIC’s coverage for crops and flood risks indicate a shift towards sustainability and resilience.
- Agent Enablement Tech: Jubilee’s JForce and AAR’s MyWakalAAR demonstrate that while technology accelerates the process, human agents are still essential for closing deals.
- Capital & Ratings Competition: As IFRS-17 takes effect, insurers with AA-level ratings are facing challenges, with Heritage receiving an AA+(KE) affirmation from GCR, while GA and Jubilee Health both hold AA-(KE) ratings.
Consumer behaviour shifts
As an insurance consumer, you are not being left behind as you select your top pick among the insurance companies in Kenya, There are the shifts we are seeing in 2025:
- Digital Engagement: Customers increasingly choose mobile applications and websites to buy and manage their policies, highlighting a growing desire for convenience. Hence, why Amssurity Insurance Agency exists
- Personalised Products: There is a rising interest in customised insurance products to meet individual needs, including specific health issues and financial aspirations.
- Trust and Transparency: Consumers are leaning towards insurance providers that demonstrate clarity in pricing, claims procedures, and ethical standards.
- Financial Literacy: As financial awareness grows, consumers make more educated choices and look for educational tools offered by independent insurance agents such as Amssurity Insurance Agency.
- Micro-Insurance: Younger individuals and those with lower incomes are turning to flexible, on-demand micro-insurance options, which provide affordability and short-term coverage.
How to choose “Your” insurer
- Align benefits with needs: Choose AAR or Jubilee for extensive medical coverage; go for GA or Heritage if you need services for motor and marine; select CIC or Britam for agricultural and microfinance solutions.
- Evaluate the network and response time: Inquire about the number of hospitals, garages, or assessors included in the network, along with the typical time for claims settlement.
- Assess financial stability: Ratings of AA indicate greater solvency margins, which can be beneficial during disaster years. Seek expert guidance: An independent broker can compare premiums, exclusions, and service levels among all ten providers.
Need Help Comparing Kenya’s Top Insurers?
Chat with a licensed advisor at Amssurity Insurance Agency. We translate jargon, fight for your claims and hunt the best deal—free of charge.
Chat Us on WhatsApp 📱Frequently Asked Questions
What should I look for when choosing an insurance company in Kenya?
When picking an insurer, focus on their financial strength, customer service reputation, and claim-settlement history. You also want to check that they offer the specific type of cover you need and that their premiums fit your budget
Are local Kenyan insurers as reliable as international ones?
Yes. Many local insurers in Kenya have grown strong over the years and often offer products tailored to local needs. International insurers can bring global expertise, but local companies typically have deeper knowledge of Kenyan regulations and market dynamics.
How do I compare premiums and coverage across different insurers?
Start by getting quotes for the same level of cover from multiple companies. Then compare the price and policy details, such as exclusions, waiting periods, and benefit limits. Don’t base your decision solely on cost. Amssurity Insurance Agency helps you compare different insurance companies all under one roof.
Before buying a policy, do I need to check the Insurance Regulatory Authority (IRA) license status?
Absolutely. The IRA regulates all insurers operating in Kenya. Verifying that a company is licensed with the IRA ensures that you’re dealing with a legitimate business and that your policy is backed by the regulator.
Can I switch insurers mid-policy year if I find a better deal?
You can, but there are a few things to consider. You may need to cancel your existing policy, which could involve a prorated refund or cancellation fee. Also, ensure you won’t have any gaps in cover, especially if you’re switching health or motor insurance.