×
App Icon
The Standard e-Paper
Join Thousands of Readers
★★★★ - on Play Store
Download Now

IRA shuts down two insurers, advises policyholders to seek alternatives

The Insurance Regulatory Authority places Xplico Insurance under statutory management and liquidates Invesco Assurance. [Standard, File]

The Insurance Regulatory Authority (IRA) has taken drastic action against two insurance companies that were facing financial difficulties.

In a statement on Friday, IRA said Xplico Insurance Company Limited has been placed under statutory management by the Policyholders Compensation Fund (PCF), effective December 8, 2023.

Get Full Access for Ksh299/Week
Uncover the stories others won’t tell. Subscribe now for exclusive access
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in
Business
Blooms of abuse: Why Kenya's flower exports risk EU ban
Business
Kenya urged to up IT training to open doors for top jobs
Sci & Tech
Siaya youth teams feted at Kenya software and AI summit
Business
Naivas, Uber Eats ink deal