Insurance and Finance History in Kenya
Insurance in Kenya has a long history, dating back to the early 20th century when the first insurance companies were established in the country. The industry has grown significantly over the years, with a wide range of insurance products being offered by both local and international companies. The first insurance company in Kenya was the Pioneer Assurance Company, which was established in 1930. This was followed by the establishment of other insurance companies such as Jubilee Insurance Company (1937), Kenya National Assurance Company (1946), and Pan Africa Insurance Company (1947). In 1959, the government of Kenya established the Insurance Supervision Department (ISD) to regulate the insurance industry in the country. In 1964, the ISD was merged with the Banking Supervision Department to form the Central Bank of Kenya (CBK), which became responsible for regulating both the banking and insurance industries. In 1978, the Insurance Act was enacted ...