First Assurance Celebrates Intermediary Success: Revenue Surpasses Sh1.1bn

First Assurance Celebrates Milestone Year, Highlighting Intermediary Power in Kenyan Insurance Market

First Assurance Company recently hosted a special event to honour its crucial intermediary partners, marking a period of significant financial success. The insurer achieved a remarkable milestone in 2025, surpassing Sh1.1 billion in revenue. This substantial growth underscores the indispensable role that robust distribution networks play within Kenya’s dynamic and competitive insurance landscape.

The celebratory breakfast served as a vital moment for reflection on the past year’s achievements and provided a valuable platform for deepening collaboration with key stakeholders. The recognition comes on the heels of First Assurance recording an impressive 11 per cent expansion in its business operations. This growth was largely propelled by its extensive network, comprising approximately 600 dedicated intermediaries.

These valued partners were instrumental in collectively generating over Sh1.1 billion in revenue, a testament to their central role in the company’s strategy for market penetration and expanding customer reach.

Stephen Lokonyo, the Managing Director of First Assurance, emphasized the significance of the gathering, stating, “Today was about more than just numbers; it was a chance to connect, share ideas, and simply say thank you.” He further noted that the exceptional performance of the intermediaries continues to set increasingly higher standards across the entire industry.

During the event, top-performing intermediaries were formally recognized for their outstanding contributions throughout the 2025 financial year. This recognition reinforces First Assurance’s unwavering commitment to celebrating excellence and fostering enduring, professional relationships with its partners.

The Growing Importance of Intermediary Networks

Industry players in Kenya are increasingly relying on intermediary networks to broaden access to essential insurance products. This strategic shift is particularly pertinent in Kenya, where insurance penetration rates remain relatively subdued when compared to global averages. First Assurance’s leadership team reiterated that these strong partnerships are fundamental to its overarching mission of enhancing insurance uptake and simultaneously delivering value-driven, comprehensive solutions to policyholders.

The breakfast meeting also served as a crucial strategic touchpoint for the company as it strategically positions itself for sustained growth amidst an increasingly competitive sector. The management signaled a clear intent to continue investing significantly in partner relationships and the development of innovative distribution models to maintain its upward momentum.

The insurer unequivocally described intermediaries as being central to its growth strategy. They are recognized as key conduits in connecting customers with First Assurance’s diverse range of insurance solutions.

Investing in Distribution and Innovative Solutions

To further empower its distribution network, First Assurance has proactively introduced a suite of comprehensive training programs and cutting-edge digital tools. These initiatives are designed to enhance efficiency and support the intermediaries in their daily operations. Key digital enhancements include:

• Automated Policy Dispatch: Streamlining the delivery of insurance policies to clients.
• Online Quotation Systems: Enabling intermediaries to generate instant and accurate quotes for potential customers.
• 24-Hour Customer Support: Providing round-the-clock assistance to both intermediaries and policyholders.

Among the company’s innovative products that are gaining significant traction in the region are:

• First Afya Biashara: This is a specialized medical cover designed specifically for small and medium-sized enterprises (SMEs), addressing their unique healthcare needs.
• Bima Taasisi: This product provides comprehensive insurance for educational institutions, offering protection against various risks, including fire and other liabilities.

These targeted offerings are strategically designed to cater to the burgeoning SME and private education sectors, particularly in the Coast region. This focus highlights First Assurance’s commitment to developing tailored solutions for specific market segments and contributing to their economic resilience and security. The company’s continued investment in its intermediary network and product innovation signals a strong trajectory for future growth and market leadership.