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Global regulatory trends show that tougher regulation and increased pressure to perform can improve the sector’s prospects and encourage investment. After many successful years of expanding their businesses in Asia, global insurers have trained their sights on Africa.
At face value, Kenya’s insurance sector appears to be a prime African market for investment with the sector experiencing several mergers and acquisitions in the recent past, including the arrival of large multinational players.
Meanwhile, Kenya’s Insurance Regulatory Authority (IRA) is laying the groundwork that will inspire greater investor confidence. However, it is not yet clear whether there is the capacity in this market to implement and enforce the regulatory changes that would facilitate more investment.
In view of the above the Insurance Institute of East Africa has embarked on an ambitious drive to develop insurance professionals for the industry both in Kenya and the region at large through the International Diploma in Insurance. One recent testimony of this drive is the presentation of the diplomas to successful December 2023 examination candidates on 1st, March, 2024 at a ceremony held at our offices in Nairobi. The successful candidates and graduants were drawn from various insurance companies including: –