Analysis of the Insurance Act of Kenya

April 3, 2012 By Leave a Comment

The insurance act of Kenya is in chapter 487 of the Kenyan laws. The act was enacted in 1984 and it has been a vital tool in regulation of the insurance industry. The act started operating in early 1987 and it has evolved to less than a superlative piece of legislation and a tool that respond to the fluctuating insurance industry.

Over the two decades of its existence, the act has been revolutionized substantially on piecemeal basis. However, it has not reached the standards of present insurance world. This has led to the review of the act in order to come up with a frame work that fits in perfectly with the advance and functionality of the industry. Continue reading “Analysis of the Insurance Act of Kenya” »

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Kenya Orient Insurance Company

April 3, 2012 By Leave a Comment

Kenya Orient Insurance Company Limited (KOIL) was started in 1982 by the Al-Fateem Group of Dubai and after six years in 1988 it was acquired by Kenyans. The headquarters are situated at Capitol Hill Towers 6th Floor, Cathedral Road, Nairobi.

Kenya Orient Insurance Company (KOIL) is registered under the insurance Act of Kenya and is authorized to endorse or back all classes of General Insurance Business.

The History of Kenya Orient Insurance Company

Kenya Orient Insurance Company has been in the insurance business for the last 30 years. The company has been in steady and remarkable growth and has about six branches in the country.

It has four executive directors that assist and facilitate its running together with their CEO Virginia Magondu. The mission and vision statement of the company is to provide relevant yet unique insurance products and to be the ideal insurance provider in Africa.

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Jubilee profits up to Kshs 2.143 billion

March 29, 2012 By 3 Comments

Jubilee declares 110% dividend and bonus share of one in ten 

 Nairobi, March 29 – Jubilee Holdings, East Africa’s largest insurance group, celebrating its 75th birthday this year, announced an increase in pre-tax profit for the full year period ended December 31, 2011, to Kshs2.144 billion in 2011.

The Directors have recommended a total dividend of 110% which equates to Kshs5/50 per share. To commemorate this continued impressive growth, Jubilee also declared a bonus share issue in the ratio of 1:10 for the third consecutive year, to mark its 75th birthday approaching on 3rd August 2012.

The results saw Jubilee strengthen its number one position in Kenya, Uganda, and overall in East Africa and also become the market leader in Tanzania. Continue reading “Jubilee profits up to Kshs 2.143 billion” »

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Take Charge and Know the Types of Insurance Policies in Kenya

January 8, 2012 By

There are a variety of insurance companies that offer numerous types of insurance policies in Kenya. Life in the present days is chock-full of risks. Nobody has an idea of what the future holds for them. Mishaps and accidents and natural calamities are inevitable though with an insurance cover all is well.

A risk occurrence is ninety percent recoverable. Insurance is an effectual approach to risk management and is defined as an evenhanded transfer of the risk of a loss in exchange of a premium. Each quantifiable risk is insurable.

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The Best Insurance Company in Kenya 2011: Jubilee Insurance Company

January 8, 2012 By

This ended up being a Jubilee Insurance review rather than an article on the best insurance company in Kenya. Please note that the views expressed in this article are not the views of the editors of this site:

Jubilee is the second largest and the best insurance company in Kenya. Jubilee Insurance has a strong financial base and over seventy years experience in the industry, its headquarters is in Mombasa. The Company operates through a network of head offices in the East African capital cities of Nairobi, Kampala and Dar es Salaam and has other eight branches spanning the region.

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