MUA Insurance Accelerates Kenya Expansion Strategy

MUA Insurance (Kenya) Limited has embarked on a branch upgrade and sustainable expansion strategy aimed at strengthening service delivery and supporting the growth of Kenya’s insurance market. As part of this investment programme, the company has relocated and upgraded its Mombasa branch from Zulfat Hatimy Plaza on Hatimy Road to Jubilee Arcade along Moi Avenue, a more strategic and accessible location within the Central Business District. The upgraded branch reflects MUA’s broader commitment to modernizing its physical presence while moving closer to customers across key economic hubs. The initiative forms part of the company’s long-term sustainable growth strategy, supported by its parent company, MUA Ltd, a Mauritius-founded insurance and financial services institution with over a century of regional experience and operations across six African countries with diverse markets Backed by the Group’s financial strength and regional expertise, MUA continues to deepen its investment in the country, aligning its expansion with rising demand for insurance solutions among corporates, SMEs and households. According to Insurance Regulatory Authority (IRA) quarterly report, Kenya’s insurance industry recorded gross written premiums of KES 352.29 billion by September 2025, representing an 11.2 per cent year-on-year increase, while total industry assets surpassed KES 1 trillion for the first time. Despite this progress, insurance penetration remains relatively low at approximately 2.4 per cent of GDP, signalling significant opportunity for growth as insurers expand access through regional outreach, product and service digitalization. Industry analysts project Kenya’s general insurance market to grow at an average annual rate of about 9 per cent through 2029. MUA’s branch modernization programme responds directly to these market dynamics by strengthening physical access points alongside growing customer expectations around convenience. “This investment reflects our confidence in Kenya’s long-term economic outlook and the growing importance of insurance in supporting businesses and households,” said Nixon Shigoli, CEO, MUA Insurance (Kenya). “Upgrading our branches allows us to serve customers more efficiently while reinforcing our presence in regions that are central to trade and economic growth.” Located along Kenya’s coastal economic corridor, the upgraded Mombasa branch positions MUA closer to logistics operators, traders, SMEs and households operating within one of East Africa’s most dynamic commercial ecosystems. The branch will offer MUA’s expanded portfolio of solutions for both businesses and households, including property and asset insurance, motor and marine cover, liability solutions, health insurance, engineering, cyber insurance, as well as specialised covers such as aviation and political violence insurance. MUA’s continued investment across its markets has supported steady growth, with market capitalisation across Mauritius, Kenya, Uganda, Rwanda, Tanzania and Seychelles reaching KES 9.1 billion as of December 2024, a 39 per cent increase within 12 months.