First Assurance targets Coast region growth as it marks 95 years in Kenya

First Assurance has reaffirmed its commitment to expanding insurance access in Kenya’s coastal region as it marks 95 years in operation, citing the Coast’s growing economic importance amid persistent low insurance uptake.

The company, which began operations in 1930, held an intermediaries’ dinner in Mombasa in September, bringing together agents, brokers, and business partners from across the region.

The event is part of an ongoing engagement drive aimed at strengthening partnerships and deepening insurance penetration in coastal counties such as Mombasa, Kilifi, and Kwale.

Despite steady economic growth driven by trade, logistics, and real estate, insurance penetration across the Coast remains below the national average.

Industry observers attribute this to low awareness, informal economic structures, and limited access to insurance intermediaries.

First Assurance Managing Director Stephen Lokonyo said the company is investing in partnerships and regional engagement to bridge this gap.

“As we celebrate 95 years of service, our focus remains on deepening relationships with our partners and customers,” he said.

“The Coast region holds immense potential, and through collaboration with our intermediaries, we’re ensuring that individuals, SMEs, and institutions alike can access financial protection and peace of mind.”

The insurer described intermediaries as central to its growth strategy, noting that agents and brokers are key in connecting customers to its insurance solutions.

The company has introduced training programs and digital tools to support its distribution network, including automated policy dispatch, online quotation systems, and 24-hour customer support.

Among the company’s products gaining traction in the region are First Afya Biashara, a medical cover for small and medium enterprises, and Bima Taasisi, which insures educational institutions against risks such as fire.

These offerings target the Coast’s growing SME and private education sectors.

First Assurance says its digital transformation efforts are helping modernize service delivery and align with changing customer expectations.

As economic activity at the Coast continues to accelerate, spurred by infrastructure projects, port expansion, and a rising SME base, demand for tailored insurance products is expected to grow.

Through continued collaboration with local intermediaries and community-focused initiatives, the company says it hopes to bridge the awareness gap and promote financial inclusion in one of Kenya’s most dynamic but underserved markets.