Kenya Insurance Tenders

The Kenyan insurance market is one of the most developed in East Africa, with a gross written premium (GWP) of KES 162 billion ($1.4 billion) in 2022. The market is dominated by a few large players, such as CIC, Jubilee, Britam, ICEA, Lion General, and APA Insurance. The insurance penetration rate in Kenya is
low, at 3%, but it is expected to grow in the coming years as the economy expands and the middle class grows.

The Kenyan government is a major purchaser of insurance products and services. In 2022, the government spent KES 13.5 billion ($116 million) on insurance.

The main insurance products and services procured by the government are medical insurance, motor vehicle insurance, property insurance, and liability insurance.

The top authorities for Kenya insurance procurement are the Public Procurement and Asset Disposal Act (PPADA), the Insurance Regulatory Authority (IRA), and the National Treasury. The PPADA sets out the rules and regulations for government procurement. The IRA regulates the insurance industry in Kenya. The National Treasury is responsible for the financial management of the government.

The top winners of Kenya insurance procurement are CIC, Jubilee, Britam, ICEA, Lion General, and APA Insurance. These companies have won a significant share of government insurance tenders in recent years.

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