Nairobi – The Insurance Regulatory Authority (IRA) has revoked the operating licenses of 20 insurance brokers, effectively rendering their functions redundant as of June 30, 2025.
In a formal statement, IRA confirmed that the affected firms were de-registered following a notice published in the Kenya Gazette on July 18. The move is part of an ongoing enforcement effort to ensure only compliant intermediaries operate within the country’s insurance sector.
IRA Chief Executive Officer Godfrey Kiptum advised Kenyans to avoid doing any business with the delisted brokers, warning that they are no longer authorized to transact insurance services in Kenya.
“These brokers have ceased operations and are no longer permitted to offer or mediate insurance business,” Kiptum stated. “Members of the public are cautioned against engaging them in any insurance-related transactions.”
The regulator did not publicly specify the exact breaches that led to the cancellations. However, under Kenya’s Insurance Act, brokers must meet strict conditions including timely filing of audited accounts, maintaining minimum capital thresholds, and honoring client claims and remittances.
The cancellation comes at a time when IRA has intensified scrutiny of insurance intermediaries. In recent years, the authority has taken a firmer stance against non-compliance, citing risks to policyholders and the integrity of the financial system.
Brokers serve as key links between insurers and customers, and any lapse in compliance or unethical behavior can expose clients to significant financial risk. The regulator’s latest action signals a zero-tolerance approach toward errant firms.
IRA urged Kenyans to confirm the registration status of brokers through its official website or directly through the authority’s offices before purchasing insurance policies.
The de-registration is expected to prompt a shift in market behavior, with affected clients needing to transition their portfolios to other licensed intermediaries or insurers.
The IRA is mandated to regulate, supervise, and develop the insurance industry in Kenya under the Insurance Act, and periodically reviews licenses based on performance, legal compliance, and industry conduct.
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