AAR Insurance celebrated its 40th anniversary with a gala dinner in Nairobi, bringing together board members, industry leaders, stakeholders, and partners.
The event marked four decades since the company’s establishment in 1984 and highlighted its evolution into a significant player in Kenya’s insurance industry.
In her keynote speech, Diana Sawe, Director of Legal Services at the Insurance Regulatory Authority (IRA), underscored the need to expand access to insurance in Kenya. Representing IRA CEO Godfrey Kiptum, Sawe noted that insurance penetration in Kenya remains at just 3.1% of GDP, calling for innovative approaches to address this gap.
She pointed to micro-insurance products as a critical avenue for reaching underserved populations and improving financial inclusion.
“AAR Insurance has set a standard in ensuring that insurance remains accessible, flexible, and responsive to Kenya’s dynamic market needs,” Sawe said, emphasizing the importance of compliance and innovation in boosting the country’s insurance uptake.
John Ngumi, AAR Group Board Chair, outlined the company’s broader ambitions to influence Africa’s insurance landscape by leveraging technology and local partnerships to address the continent’s unique challenges.
Esther Koimett, AAR Kenya Board Chair, highlighted efforts to deepen the company’s impact in Kenya by expanding access to quality insurance services.
AAR Insurance CEO Justine Kosgei reflected on the company’s milestones and investments in digital transformation and customer-focused solutions.
He emphasized the need to adapt to evolving market demands while maintaining operational excellence and integrity.
The event also underscored the challenges and opportunities facing Kenya’s insurance industry, with calls for collective efforts to increase accessibility and foster financial inclusion.
