Invesco Assurance

Invesco Assurance Company Limited is in the midst of a crisis after the Insurance Regulatory Authority (IRA) took decisive action, initiating the company’s liquidation and revoking its operating license. 

This came in response to insolvency petitions filed in both Malindi and Nairobi courts, with multiple claimants pursuing legal action against the insurer for failing to settle payouts resulting up to 3.85 million, despite a court order.

The Official Receiver stepped in to oversee invesco assurance’s affairs, and the company is now barred from issuing new insurance policies. IRA has further directed policyholders covered by Invesco to secure alternative coverage from licensed insurers to safeguard their interests.

“Existing policyholders are advised to immediately seek alternative covers from other licensed insurers to ensure that there is no unnecessary exposure,” said the IRA in a statement.

This drastic measure follows a sequence of events, providing context to the IRA’s decision. In 2019, the IRA raised alarms over Invesco’s financial performance reports, citing data inconsistencies and non-compliance with submission requirements. This early scrutiny hinted at deeper financial issues within the company. 

Fast forward to 2021, Invesco faced the consequences with a hefty fine of Sh24.94 million imposed by the IRA for missing audited book submission deadlines, highlighting a persistent pattern of non-compliance.

The climax occurred on February 24, 2023, when the IRA issued a liquidation order in response to mounting concerns about Invesco’s financial stability. Finally, on December 8, 2023, the IRA dealt the ultimate blow by canceling Invesco’s license, effectively halting its operations in the insurance sector.

Established in 1993, invesco assurance company limited is a private insurance company operating in Kenya and regulated by the Insurance Regulatory Authority (IRA). With a broad license covering all lines of general insurance business, invesco offers a diverse range of insurance products, including Motor, Fire, Marine, Personal Accident, and Medical coverage. 

The company, headquartered in Nairobi, boasts a nationwide presence with 27 branches across key locations like Nairobi, Mombasa, Kisumu, and Eldoret.

In the matatu insurance landscape, Invesco competes with Directline, with the latter being considered the leader in Matatu and bus insurance in Kenya. Despite Directline’s prominence, Invesco has established itself as a significant player in this specialized market, contributing to the overall diversity and competitiveness of Kenya’s insurance sector.

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In the aftermath of invesco assurance’s failure to honor a substantial number of claims, policyholders are facing a cascade of challenges that extend from immediate financial strain to broader uncertainties. The unpaid claims, totaling millions, have placed a significant burden on both individuals and businesses that had relied on Invesco for insurance coverage. 

This financial setback has triggered disruptions in operations for businesses, exposing them to unforeseen risks and potential legal complexities. Moreover, the erosion of trust in the insurance industry is palpable, prompting policyholders to actively seek alternative coverage options while regulators and stakeholders scrutinize the broader industry practices.

The liquidation of invesco assurance poses specific challenges for Kenya’s matatu industry, where the insurer covered approximately 11% of matatus. This development has resulted in a disruption of insurance coverage for matatu operators, forcing them to urgently seek alternative providers to fill the void. 

The abrupt transition introduces financial strain on operators, especially smaller businesses, as they adapt to new premium structures. The impact extends beyond individual businesses to potentially influence matatu routes and services, as operators navigate uncertainties surrounding coverage.

Affected parties can reach invesco assurance through their invesco assurance co. ltd (head office) at the 3rd floor Bishop Magua Centre, Ngong Road, Nairobi, or by postal mail at P.O. Box 529640 – 00200 Nairobi. 

Direct inquiries can be made via email at, and further details may be available on their official website,

Additionally, individuals and businesses are encouraged to reach out through the invesco assurance company contacts at 0701230043 for assistance or updates. As a complementary resource, affected parties are advised to navigate the ira portal for real-time updates and regulatory insights regarding Invesco Assurance’s situation.


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