Aiden k 
Godfrey Kiptum, CEO,The Insurance Regulatory Authority (IRA)
The Insurance Regulatory Authority (IRA) has placed Trident Insurance Company, KUSCCO Mutual Assurance Limited, and Corporate Insurance Company under statutory management in accordance with the provisions of Section 67C(2)(i) of the Insurance Act.
This regulatory action has been taken to safeguard the interests of policyholders, creditors, and the general public, and to allow for an orderly assessment and stabilization of the companies’ financial and operational positions.
The Policyholders Compensation Fund (PCF) have been appointed to take control of the management and operations of the affected insurers effective 10th March 2026.
IRA reassures policyholders and other stakeholders that it remains committed to maintaining stability, confidence, and integrity within the insurance sector.
The Policyholders Compensation Fund (PCF) is a State Corporation under the The National Treasury that was established through the Legal Notice No.105 of 2004 and commenced its operations in January 2005
The Fund was established for the primary purpose of providing compensation to claimants of an insurer that has been put under Statutory Management and for the secondary purpose of increasing the general public’s confidence in the insurance sector.
The decision to establish the Fund was informed by the collapse of several Insurance companies prior to the year 2005. The Fund is governed by section 179 of the Insurance Act (Cap 487) and the Insurance (Policyholders Compensation Fund) (Amendment) Regulations, 2014.
