How to Register as an Insurance Broker in Kenya 2025

Step-by-Step Guide: How to Register as an Insurance Broker in Kenya

If you’re looking to operate legally as an insurance broker in Kenya, you must register with the Insurance Regulatory Authority (IRA)—the body mandated to supervise and license all players in the insurance industry. This includes insurance brokers, reinsurance brokers, agents, underwriters, and medical insurance providers.

According to the Insurance Act Cap 487, specifically Sections 150 to 156, there are set requirements that all prospective insurance brokers must meet before being licensed to operate in the country.

Key Registration Requirements for Insurance Brokers in Kenya

Here’s what you’ll need to successfully register:

Registration Fee
A non-refundable fee of Kshs 10,000, payable to the Insurance Regulatory Authority.
Bank Guarantee or Government Bond
You must provide either:
- A bank guarantee of Kshs 3 million from a licensed commercial bank (in the prescribed IRA format), OR
- A government bond valid for at least two years, issued in favour of the IRA.
Professional Indemnity Insurance
An active professional indemnity policy of not less than Kshs 10 million. This policy must expire on 31st December of the year of registration.
Minimum Paid-Up Share Capital
The applying firm must show proof of a minimum share capital of Kshs 1 million.
Shareholding Disclosure (CR-12 Form)
A CR-12 form from the Registrar of Companies showing the company’s ownership structure.
Kenyan Ownership Requirement
At least 60% of the company’s shares must be owned by Kenyan citizens.
Registered Business Name Compliance
The company name must comply with Section 190 of the Insurance Act.
Certificate of Incorporation
Submit a certified copy of the firm’s certificate of incorporation.
Signed CR-2 Form
This form must be duly signed by all shareholders of the company.
Principal Officer Qualifications
The applicant must submit the following details about their principal officer:

Updated Curriculum Vitae and academic/professional testimonials
A degree or diploma in insurance from a recognized institution
At least five years of relevant experience in the insurance sector
Valid identification documents (National ID or Passport)
Letter of appointment (if applicable)
A fully completed Fit and Proper Form
For foreign nationals: A valid work permit of at least two years

Statement of Business (For Renewals)
Complete and submit Form INS 151-1 for renewal applications.
Business Plan (New Applicants Only)
Submit a detailed three-year business plan outlining your operations, growth strategy, and projected financials.

Where to Submit Your Application

Submit all your documents to:

Insurance Regulatory Authority (IRA)
Location: Zep-Re Place, Longonot Road, Upper Hill, Nairobi
Phone: 0719 047 000 / 020 499 6000
Email: [email protected]

Additional Notes for Applicants

Ensure all copies are certified and properly bound.
Late or incomplete applications may result in delays or disqualification.
Professional advice from a compliance consultant or lawyer can streamline the application process, especially for first-time applicants.

Conclusion

Becoming a licensed insurance broker in Kenya involves more than just opening a business—it requires strict compliance with regulatory requirements to protect consumers and ensure professionalism in the industry. By following this guide and submitting all necessary documentation, you’ll be well on your way to entering the vibrant insurance market in Kenya.