NAIROBI, Kenya– High-income earners in Kenya can now access enhanced insurance coverage of up to Sh500 million following a new bancassurance agreement between Standard Chartered Bank Kenya and Prudential Life Assurance Kenya.
The strategic alliance introduces exclusive insurance products tailored for wealthy clients seeking advanced financial security, intergenerational wealth transfer, and legacy planning solutions.
Standard Chartered Kenya CEO Kariuki Ngari noted that their flagship product, LivLife, had already shown strong market demand during its trial phase.
“The LivLife solution offers clients high-value life insurance tailored for intergenerational wealth transfer, legacy planning, and long-term financial security,” said Ngari.
“The pilot highlighted a growing appetite for future-proof savings and a shift from traditional endowment products to needs-based, whole-life solutions.”
In addition to LivLife, the partners have rolled out Future Ready, a savings-driven plan that supports educational, retirement, and lifestyle goals for middle- and upper-income clients.
Standard Chartered will act as the primary distribution channel, utilizing its advisory-driven wealth model to help clients integrate insurance into comprehensive financial plans.
Prudential Life Assurance Kenya CEO Gwen Kinisu said while the current focus is on high-net-worth individuals, their broader mission remains inclusive.
“Our broader ambition is to ensure that products are accessible, understandable, and valuable,” she said.
Kenya’s bancassurance sector has seen significant growth, with premiums rising by 79.5% over five years to Sh35 billion, according to the Association of Kenya Insurers.
The new collaboration builds on a 26-year global partnership between Standard Chartered and Prudential across 11 markets in Africa and Asia.
