The Insurance Regulatory Authority (IRA) has placed KUSCCO Mutual Assurance Limited under statutory management starting March 10, 2026. The regulator said the decision was made under the Insurance Act to protect policyholders and allow a review of the company’s financial and operational position.
The authority has appointed the Policyholders Compensation Fund (PCF) to take over the management of the company. From March 11, 2026, KUSCCO Mutual Assurance will not be allowed to issue any new insurance policies.
Existing policyholders have been advised to seek alternative cover from other licensed insurers, while the compensation fund will handle claims as provided for under Kenyan law and guide long-term policyholders on the way forward.