The Insurance Regulatory Authority (IRA) has cautioned members of the public against seeking insurance-related activities from a local firm that focuses on providing niche and specialist insurance solutions primarily to corporates operating in Africa or those looking to enter African markets.
This is after the regulator deregistered the firm from transacting insurance business as an insurance broker through a gazette notice published in December 2021.
An insurance broker is an entity that works on behalf of a person to find them the best insurance policy that meets their specific needs by comparing options from varied insurance companies.
In a brief notice on Tuesday, September 2, IRA Chief Executive Officer Godfrey Kiptum noted that despite the deregistration, Underwriting Africa Insurance Brokers Limited reportedly continued to operate as an insurance broker.
Kiptum revealed that the firm, which was based in Nairobi, went ahead to share a publication that featured in the Daily Nation newspaper's August 6, 2025, edition.
"The firm was deregistered from transacting insurance business as an insurance broker as published in the Kenya Gazette issue number 13566 on December 10, 2021," Kiptum noted.
"Members of the public are advised to refrain from engaging with it for any insurance-related services," he added. The firm in question was founded in 2015 and is headquartered at ParkPlace Business Park, Limuru Road, Nairobi.
While advising members of the public against the deregistered insurance broker, the IRA CEO called on Kenyans to report suspicious activities by any insurance company in Kenya.
The warning notice comes barely two months after the IRA deregistered 20 other insurance brokerage companies, barring them from conducting further business in the country.
In a notice dated July 18, 2025, the Authority noted that the brokerage firms were deregistered in line with Section 196(A) of the Insurance Act.
The Act mandates transparency and accountability in the deregistration of an insurance broker. It further requires that an insurance entity notify the Commissioner of Insurance whenever its registration is revoked.
Under the law, Insurance entities may be deregistered due to various reasons, with the most common cause being non-compliance with the Insurance Act. Other underlying factors could be due to mergers, acquisitions or bankruptcy.
Specifically, non-compliance could involve failure by an insurance entity to remit monthly or annual premiums and failure to meet licence renewal conditions.
