NAIROBI, Kenya – The Insurance Regulatory Authority (IRA) has assured policyholders that Directline Assurance Company Limited remains fully operational and compliant, even as the insurer faces ongoing shareholder disputes.
In a statement, IRA emphasized its unwavering oversight, reinforcing the company’s obligations to honor all valid policies.
Despite the governance drama unfolding behind the scenes, IRA has stressed that the validity of policies issued by Directline is unaffected.
CEO Godfrey Kiptum reaffirmed that policyholders can rest assured their claims will be honored as per the terms of their contracts.
“Changes in shareholding of an insurance company do not affect the validity of insurance policies duly issued to policyholders,” Kiptum clarified.
The regulator also reiterated its primary mandate—to protect the interests of policyholders and insurance beneficiaries, ensuring stability in the sector amid disputes.
Directline’s shareholder tussle, which has drawn significant public attention, is now in the courts. Earlier this year, the company narrowly escaped closure after IRA temporarily suspended its planned wind-up in June.
While the legal wrangling over ownership continues, IRA remains committed to proactive oversight, ensuring that governance issues do not disrupt the insurer’s capacity to deliver on its obligations.
This vigilance underscores IRA’s broader role in fostering trust and transparency within Kenya’s insurance industry.
By addressing concerns head-on, IRA has demonstrated its commitment to stability in Kenya’s insurance sector. Policyholders, who are at the heart of the regulator’s mandate, can feel confident that their interests remain protected.
As Directline continues to navigate its internal challenges, the regulator’s firm oversight offers a much-needed anchor of stability.
