NAIROBI, Kenya, Nov 28 – National Treasury Cabinet Secretary John Mbadi says the government is strengthening Kenya’s insurance regulatory framework to rebuild trust and support growth in a sector seen as central to the country’s financial stability.
Speaking during the official rebrand of Sanlam Kenya to Sanlam Allianz Holdings Kenya, Mbadi — in remarks delivered on his behalf by KRA Commissioner General Humphrey Wattanga — said reforms under the Insurance Regulatory Authority are aimed at sharpening oversight, protecting consumers, and encouraging innovation.
These include work on digital asset insurance, standardised claims processes, and a strengthened risk-based capital regime.
He said the insurance sector remains critical to economic development by shielding households and businesses from shocks and enabling long-term investment.
Mbadi added that insurers have been urged to align with regulatory expectations by improving governance, adopting technology responsibly, and expanding coverage to underserved groups.
The rebrand follows the formation of a joint venture between Sanlam and Allianz, creating what the companies describe as Africa’s largest non-banking financial services outfit.
SanlamAllianz Kenya Group CEO Dr. Nyamemba Patrick Tumbo said the transition reflects a broader continental strategy and will involve technology-driven improvements to client service and distribution.
Subsidiaries SanlamAllianz Life Insurance Kenya and SanlamAllianz General Insurance Kenya will continue under Jacqueline Karasha and George Kuria, respectively.
By Faith Masita
