Best Top 10 Life Insurance Companies in Kenya (2025)
If you’re comparing providers, you’ll want a clear, data-driven view of the top 10 life insurance companies in Kenya. This ranking relies solely on the Insurance Regulatory Authority (IRA) Annual Insurance Industry Statistics 2024, focusing on the long-term (life) business segment.
In 2024, Kenya’s long-term insurance market wrote approximately KES 191.8 billion in gross direct premiums. The top three carriers together account for roughly 50.8% of all long-term premiums, while the top 10 capture about 83.8%.
We also count 28 licensed life companies in Kenya active in the IRA tables for 2024. This page ranks the top 10 life insurance companies in Kenya using consistent, public numbers.
Table of Contents
Methodology (what we measured)
- Source: IRA Annual Insurance Industry Statistics 2024, Appendix 8: “Summary of Long Term Business Gross Direct Premiums” (figures in Kenya shillings, thousands).
- Metric: We rank insurers by gross direct premiums (long-term business only) and show market share.
- Scope: Long-term classes such as life assurances, annuities, deposit administration, personal pensions, group life, group credit, permanent health, and investments.
- Units: The IRA table is published in KES ‘000. For readability below, we express amounts in KES billions.
Because every company classifies products slightly differently, anchoring to one IRA table keeps the top 10 life insurance companies in Kenya comparable.
The data-backed ranking: top 10 life insurance companies in Kenya (2024)
| Rank | Company | Premiums (KES Bn) | Market Share (%) | Major strengths / what it’s known for | Example products (one-line) |
|---|---|---|---|---|---|
| 1 | Britam Life Assurance | 42.03 | 21.91% | Large individual life assurances portfolio; diversified long-term mix; broad retail reach. | Term & whole life, education savings plans, optional riders (critical illness/disability). |
| 2 | ICEA Lion Life Assurance | 28.33 | 14.77% | Strong in deposit administration & pensions; deep corporate scheme presence. | Corporate pension/umbrella schemes, deposit administration funds, retirement annuities. |
| 3 | Jubilee Life Insurance | 27.16 | 14.16% | Scale in deposit administration & pensions; established institutional/group business. | Group pensions & deposit administration, post-retirement annuities, education/endowment plans. |
| 4 | Kenindia Assurance | 14.08 | 7.34% | Significant deposit administration book; stable savings/retirement administration. | Employer pension schemes, endowment/education policies, lifetime/term annuities. |
| 5 | CIC Life Assurance | 12.69 | 6.61% | Notable group credit (lender-linked) and group life volumes. | Credit life for loans/mortgages, group life for employers, budget-friendly term cover. |
| 6 | Pioneer Assurance | 8.61 | 4.49% | Meaningful deposit administration and retirement solutions footprint. | Deposit administration for SACCOs/SMEs, education/endowment plans, annuity options. |
| 7 | Absa Life Assurance | 8.46 | 4.41% | Large life assurances book; strong bancassurance distribution. | Bank-channel term life, credit life with lending products, simple savings/education plans. |
| 8 | GA Life Assurance | 7.63 | 3.98% | Solid deposit administration & pensions presence with group clientele. | Group pension & deposit administration, retirement annuities, blended savings policies. |
| 9 | Sanlam Life Assurance | 5.91 | 3.08% | Robust individual life assurances and protection-led offerings. | Individual term/whole life, education policies, critical-illness and disability riders. |
| 10 | APA Life Assurance | 5.89 | 3.07% | Strong group life and employer-based covers. | Group life schemes, employer-based coverage. |
Quick context: in 2024 the top 10 life insurance companies in Kenya collectively represented about 83.8% of the market. The single largest player held 21.91% of long-term premiums on IRA records. When we discuss the top 10 life insurance companies in Kenya, we’re referring strictly to long-term premiums reported to the IRA for 2024.
How to choose the right life insurer (beyond the leaderboard)
No single insurer is “best” for everyone. Use these criteria to narrow your choice:
- Type of cover you need. Term life, whole life, education policies, annuities, group credit/mortgage protection, or retirement (deposit administration & pensions).
- Budget and flexibility. Look for premium holidays, partial withdrawals (if available), and optional riders (critical illness, disability, income protection).
- Claims philosophy. Review disclosures, turnaround standards, and policy conditions. IRA statistics report premium and claims totals, but not a universal “claims settlement ratio” for life request each insurer’s service commitments in writing.
- Financial resilience. Scan audited results and solvency information released by insurers and the IRA.
- Distribution and service. Consider agent support, digital self-service, and branch footprint, especially for policy changes and maturities.
- Investment strategy (for savings/retirement plans). Look at historical credited rates for deposit administration and participating policies, asset mix, and fees. Past performance isn’t a guarantee, but it shows the philosophy.
A shortlist built from the top 10 life insurance companies in Kenya is a smart starting point then filter by your goals.
What this leadership tells us about the market
A few patterns stand out in the data. First, deposit administration and pension-style plans are a material driver of volume among several leaders (notably ICEA Lion Life Assurance, Jubilee Life Insurance, Kenindia Assurance Company, and Pioneer Assurance Company). That scale often reflects strong corporate and institutional relationships as well as robust administration systems.
Second, traditional life assurances remain a core engine for providers such as Britam Life Assurance, Absa Life Assurance, and Sanlam Life Assurance.
Third, group solutions (group life, group credit and lender-linked covers) continue to be influential in total volumes—CIC Life Assurance Company and APA Life Assurance Company stand out here.
Together, these concentrations help explain why the top 10 life insurance companies in Kenya control about 83.8% of long-term premiums in 2024: distribution depth, product breadth, and long-tenured administration platforms attract sustained inflows.
Company-by-company notes (what the data suggests)
- Britam Life Assurance: 2024 gross direct premiums KES 42.03 billion; 21.91% market share. Large traditional life assurances book. Assess product terms, riders, credited rates (where relevant) and servicing before you decide. We compiled the top 10 life insurance companies in Kenya from IRA data to make comparisons straightforward.
- ICEA Lion Life Assurance: 2024 gross direct premiums KES 28.33 billion; 14.77% market share. Strength in deposit administration and retirement lines. Assess product terms, riders, credited rates (where relevant) and servicing before you decide.
- Jubilee Life Insurance: 2024 gross direct premiums KES 27.16 billion; 14.16% market share. Strength in deposit administration and retirement lines. Assess product terms, riders, credited rates (where relevant) and servicing before you decide. This guide to the top 10 life insurance companies in Kenya uses IRA data so you can compare like-for-like.
- Kenindia Assurance Company: 2024 gross direct premiums KES 14.08 billion; 7.34% market share. Strength in deposit administration and retirement lines. Assess product terms, riders, credited rates (where relevant) and servicing before you decide.
- CIC Life Assurance Company: 2024 gross direct premiums KES 12.69 billion; 6.61% market share. Notable volumes from group credit (lender-linked) covers. Assess product terms, riders, credited rates (where relevant) and servicing before you decide. We compiled the top 10 life insurance companies in Kenya from IRA data to make comparisons straightforward.
- Pioneer Assurance Company: 2024 gross direct premiums KES 8.61 billion; 4.49% market share. Strength in deposit administration and retirement lines. Assess product terms, riders, credited rates (where relevant) and servicing before you decide.
- Absa Life Assurance: 2024 gross direct premiums KES 8.46 billion; 4.41% market share. Large traditional life assurances book. Assess product terms, riders, credited rates (where relevant) and servicing before you decide. This guide to the top 10 life insurance companies in Kenya uses IRA data so you can compare like-for-like.
- GA Life Assurance Company: 2024 gross direct premiums KES 7.63 billion; 3.98% market share. Strength in deposit administration and retirement lines. Assess product terms, riders, credited rates (where relevant) and servicing before you decide.
- Sanlam Life Assurance — 2024 gross direct premiums KES 5.91 billion; 3.08% market share. Large traditional life assurances book. Assess product terms, riders, credited rates (where relevant) and servicing before you decide. We compiled the top 10 life insurance companies in Kenya from IRA data to make comparisons straightforward.
- APA Life Assurance Company: 2024 gross direct premiums KES 5.89 billion; 3.07% market share. Significant group life portfolio for employers and institutions. Assess product terms, riders, credited rates (where relevant) and servicing before you decide.
Step-by-step: choosing a life policy with confidence
- Define the job for your policy. Income replacement (term life), education planning (endowments/education plans), wealth transfer (whole life), or retirement income (annuities/deposit administration).
- Set your coverage amount. A common rule of thumb is 7–10× annual income for pure protection, adjusted for debts and dependents.
- Pick a realistic premium. Ensure contributions fit comfortably within your monthly budget; ask how missed premiums are treated.
- Check riders and exclusions. Add critical illness or disability riders if they address a real risk for your household; read exclusions carefully.
- Review maturity/benefit projections. For savings plans, focus on guaranteed components vs. projections; for deposit administration, review credited rates and fees.
- Compare service access. Branches, agent support, mobile/online portals, and claims/maturity processes.
- Document everything. Keep schedules, receipts, beneficiary updates, and contact points in one place.
Ready to compare like a pro?
Tell us your goal and budget, and Amssurity will prepare a side-by-side comparison of leading options, so you can see premiums, riders, and benefits on one page. That’s how we turn a list of the top 10 life insurance companies in Kenya into a shortlist that fits you.
Important compliance note
This article summarises IRA 2024 long-term business statistics and is intended for general informational purposes. It isn’t financial advice and doesn’t replace the official IRA publications or individual policy documents. Benefits, charges, returns, claim conditions, and surrender values are policy-specific. All figures are drawn from the same source to keep the top 10 life insurance companies in Kenya analysis objective.
Frequently Asked Questions: quick answers (grounded in the IRA data)
Below, we clarify common questions tied to searches for the top 10 life insurance companies in Kenya.
What are the 10 best insurance companies in Kenya?
If by “best” you mean the largest by long-term gross direct premiums in 2024, the top 10 life insurance companies in Kenya were the ten ranked above. Size doesn’t equal suitability—use the checklist below to match a provider to your goal.
Who is the No. 1 life insurance company in Kenya?
By IRA 2024 long-term premiums, Britam Life Assurance ranked #1 with KES 42.03 billion and 21.91% market share.
Which life insurance company is the biggest?
“Biggest” can mean different things, but by long-term gross direct premiums, the leader is Britam Life Assurance. By the same measure, the top five were Britam, ICEA Lion, Jubilee, Kenindia, and CIC Life.
How many life insurance companies are there in Kenya?
The IRA’s 2024 long-term table lists 28 life insurers. Not all will be right for every need, which is why guidance matters.
How many life insurance companies are there in Kenya?
The IRA’s 2024 long-term table lists 28 life insurers. Not all will be right for every need, which is why guidance matters.
Which life insurance company is best for investment or savings?
For savings-oriented covers (e.g., deposit administration, pensions, and with-profits policies), compare each insurer’s credited rate history, fees, and policy rules. In 2024 IRA data, many high-share providers derive substantial volumes from deposit administration and group solutions; that scale may support competitive crediting and administration, but your actual returns depend on product terms and how long you stay invested.
Which life insurance companies in Kenya are the cheapest?
Premiums vary by age, cover amount, term, riders, underwriting, and the policy type (pure protection vs. savings). Rather than “cheapest,” aim for best value—sufficient benefits, clear exclusions, and strong service at a sustainable price.
What are the top five life insurers by size?
By IRA 2024 long-term premiums the top five were Britam, ICEA Lion, Jubilee, Kenindia, and CIC Life, forming about 64.8% of the market. We created this ranking of the top 10 life insurance companies in Kenya strictly from the same source for consistency.
Who is the best company for life insurance?
It depends on your goal and profile. The top 10 life insurance companies in Kenya offer different strengths; some excel in protection value, others in retirement administration or corporate schemes. Compare product terms, service commitments, and total cost over your chosen term.
Are these rankings the same as “customer satisfaction” tables?
Not necessarily. The IRA table measures premium volume. Customer experience depends on policy design, clarity, and servicing standards, which vary by insurer and product line.