The Insurance Regulatory Authority (IRA) has placed Corporate Insurance Company Limited under statutory management with effect from March 10, 2026, citing provisions of the Insurance Act.
The regulator has appointed the Policyholders Compensation Fund (PCF) as the statutory manager to oversee the company’s operations and safeguard the interests of policyholders.
In a public notice issued in Nairobi, the authority said the insurer will not be allowed to enter into new insurance contracts starting March 11, 2026. Existing policyholders have been advised to seek alternative cover from other licensed insurers, while the Policyholders Compensation Fund will compensate affected claimants and guide long-term policyholders on the management of their policies.