NAIROBI, Kenya, Dec 25 – The Insurance Regulatory Authority (IRA) has reassured policyholders that Directline Assurance Company Limited is fully operational, licensed, and approved by the regulator, despite ongoing shareholder disputes.
In a statement, IRA emphasized that all policies issued by Directline remain valid, with the company obligated to honor claims arising from them.
“Changes in shareholding of an insurance company do not affect the validity of insurance policies duly issued to policyholders,” said IRA CEO Godfrey Kiptum.
The regulator reaffirmed its commitment to protecting the interests of policyholders and insurance beneficiaries, adding that governance disputes do not compromise the insurer’s ability to fulfill its obligations.
Directline had faced scrutiny earlier this year, leading to a temporary suspension of its planned closure by IRA in June.
Shareholders remain embroiled in a legal battle over ownership, but the IRA assured stakeholders of its continued oversight to ensure stability in the insurance sector.
