Motor insurance underwriter Directline Assurance is targeting additional policyholders this year on the backdrop of a positive growth last year according to Acting Principal Officer Sammy Kanyi.

Despite ongoing legal headwinds involving shareholder dispute, Kanyi said the firm which is licensed by the Insurance Regulatory Authority is keen on honouring all valid claims as it targets expand its market share.

We would like to assure our stakeholders that the operations of the company have continued uninterrupted despite the challenges that we witnessed in the year 2024. We have demonstrated resilience because of the support bestowed upon us by the insurance fraternity and the government through the Insurance Regulatory Authority,” said Kanyi.

According to the insurer, it paid out a total of Ksh 2.88 billion in claims last year with December payment alone amounting to Ksh 275 million. Within the last two weeks alone, Directline Assurance says it has paid out a total of Ksh 62 million.

“Topline figure of 2024, we closed the year at Ksh 3.4 billion as we await the conclusion of full annual audit,” he added.

In September last year, the regulator assured policyholders operations of the company was ongoing despite the ongoing legal process.

“…..all policies issued by Directline Assurance Company Limited remain in full force and effect and the insurer remains liable for any claims arising therefrom. All policyholders of the insurer may continue with their operations in accordance with their insurance contracts,” said IRA.

The insurer currently has at least 120,000 policyholders out of which 70pc are Public Service Vehicles (PSV) with rest being commercial motor vehicles and private motor vehicles policyholders.

“Keep on engaging us and whenever there is a problem of claims. We shall always be there for our members who are with us in the associations and Saccos so that they do not suffer,” added Micah Kariuki, Mount Kenya Matatu Owners Association Chairman.

The firm will embark on countrywide engagement with its agents and customers countrywide in a bid to grow and increase insurance penetration in Kenya which is among the lowest in African at 3pc.

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