Insurance Regulatory Authority of Kenya
Agency overview
Formed2006 (2006)
Preceding agency
  • Office of the Commissioner of Insurance
JurisdictionKenya
HeadquartersZep-Re Place, Upper Hill, Nairobi, Kenya
Agency executives
  • Abdirahin Haithar Abdi, Chairman of the Board
  • Commissioner of Insurance & Chief Executive Officer, Godfrey K. Kiptum
Parent agencyGovernment of Kenya
Websitewww.ira.go.ke

The Insurance Regulatory Authority of Kenya is the sole authority charged with regulation and supervision of the insurance industry. It ensures compliance by insurance/reinsurance companies, protects consumers and promotes a high degree of security for policyholders

History

The regulation of the insurance industry in Kenya was based on the UK Companies Act 1960. In a bid to localize regulation of the insurance business in Kenya, the Insurance Act CAP 487 of 1986 was enacted, which established the Office of the Commissioner of Insurance as a department under the National Treasury and Planning ministry.

in 2006, the Act was amended whereby the Office was separated from the ministry and established as a statutory government agency and it continues to operate as such.

See also

References