Business Desk 
First Assurance @95: A legacy of trust, innovation and forward vision;
As Kenya’s insurance industry continues to evolve amid a shifting technological, economic and social landscape, few companies can claim the depth of heritage and resilience that First Assurance boasts.
Celebrating an extraordinary 95 years in operation, First Assurance stands as a beacon of stability, transformation and customer-centered innovation.
At nearly a century old, the company isn’t showing signs of slowing down, instead, it’s accelerating into a future defined by more digitization, customer empowerment and inclusive insurance solutions.
At the heart of its success is a culture of adaptability and integrity, something that Chief Operating Officer Dr. Johannes Kitaka, a seasoned insurance and operations excellence expert, attributes to both internal resilience and long-standing customer loyalty.
“We are not 95 years old, we are 95 years young,” Dr. Kitaka said with a smile.
He adds that youthfulness speaks to the firm’s energy and agility having moved across political and economic eras, technologies and various customer generations, and still maintains relevance.
Founded in 1930 as Prudential Assurance Company PLC, the firm became a fully Kenyan owned company and was re-branded as First Assurance Company Limited in 1991.
In 2015, Barclays Africa Group Limited acquired a 63.3% majority stake in First Assurance, and in 2018, this parent group off-loaded its shareholding to Absa Group Limited, which now serves as the insurer’s holding company within the broader African financial ecosystem.
Despite the ownership changes and industry turbulence, First Assurance has maintained its core promise: dependable, quality insurance for businesses, families and individuals.
“The most defining moment for us along the journey wasn’t just about business,” said Dr. Kitaka.
In Kenya’s highly competitive insurance sector, First Assurance ranks comfortably among the top 15 providers, currently holding a 3% market share.
While that might seem modest, the figures behind it tell a different story: over Sh10 billion in cumulative gross written premiums across the last two years and nearly an equal amount paid out in claims.
This kind of robust financial activity is supported by a dynamic network: over 20 broker partners, more than
400 insurance agents, and a growing list of SMEs and corporate clients.
First Assurance’s consistent performance has also made it a reliable tax contributor and an ally to government efforts in economic development.
The firm’s accolades are not mere trophies; they reflect its’ excellence across multiple operational pillars.
At the most recent prestigious Think Business Insurance Awards, the company emerged as a multiple-award winner in key categories: best in claims settlement, customer service, innovation, fraud detection and prevention, and corporate social responsibility.“These recognitions reflect the deliberate work we have done over the last decade to re-engineer our processes,” Dr. Kitaka explained.
“We went from manual to fully automated systems. Every document, every transaction, every complaint now follows a system-driven workflow. That’s what good customer service today looks like.”
The firm is nearing completion of a five-year ICT strategic plan that has already digitized most of its core functions.
From offering online motor and marine insurance quotation to payment, to fully remote medical claims processing via integrated call centers staffed by medical professionals, First Assurance is redefining convenience.
“What we’re building is a customer-led ecosystem,” Dr. Kitaka said. “Soon, our customers and more the young population, will be able to not only buy insurance on their phones but also earn income by distributing our products as micro-agents. That’s where the future lies, in decentralizing access.”
This first digital approach will be further supported by artificial intelligence and machine learning initiatives that the company plans to deploy across its operations in the next strategic cycle..
These technologies will support predictive analytics, customer engagement personalization, and fraud detection among other capabilities.
Despite Kenya’s relatively low formal insurance penetration, hovering around 2-3%, Dr. Kitaka offers a provocative perspective.
Everyone is insured, he says.
“The real question is whether they’re formally or informally insured.”
Notably, this insight has shaped First Assurance’s approach to market development.
Instead of attempting to overhaul traditional models, the company is working to monetize existing informal systems such as savings groups (chamas), community welfare organizations, and funeral associations, by developing group-friendly aggregator models.
These informal networks, Dr. Kitaka explains, can act as intermediaries to collect and remit premiums, ultimately transitioning members into formal insurance without disrupting their cultural frameworks.
One of the most significant growth frontiers for First Assurance lies in reaching Kenya’s underserved communities.
Through a partnership with ZEP-RE, the company has started providing livestock insurance, a key step in protecting the primary assets of pastoralist communities. Yet, Dr. Kitaka believes there is more to be done.
“They need medical, school, housing and personal accident insurance covers too.The products are available. What’s missing is education.Once that barrier is broken, the uptake will naturally follow.”
In the next five years, First Assurance plans to continue deepening its presence locally through strategic partnerships with professional associations and aggregators who can reach micro-segments of the population.
However, regional expansion is being approached with caution.
“Tanzania and other markets have taught us the importance of understanding local dynamics, especially around middle-class development and regulatory frameworks. We are open to expansion, but it must make business sense,” Dr. Kitaka noted.
One of the firm’s most compelling selling points is its obsession with service.
In both the medical and non-medical spaces, the company operates with precision and humanity.
From offering a medical card accepted at top-tier hospitals to having 24/7 call center staffed by nurses and doctors, First Assurance ensures that customer concerns are not just heard but understood.
On the non-medical side, clients involved in accidents can immediately call an accident scene manager or tow truck, with support arriving in minutes.
All these services are monitored via internal dashboards, with escalations handled promptly.
“We look for reasons to pay claims, not reject them,” Dr. Kitaka stated plainly.
As the firm approaches its centennial in just five years, Dr. Kitaka shares a clear and ambitious outlook.
“We’re finalizing our current strategic plan next year and drafting a new one that takes us beyond 100 years.
We envision a highly digitized, efficient and profitable company that resonates with customers, staff and partners alike.” he said.
But more than numbers and systems, Dr. Kitaka’s personal legacy vision is deeply human.
“When I’m 80, I want to see a brand with strong values, led by visionary people, embedded in every Kenyan’s life, across all walks of life. That’s what I hope to leave behind.”
Outside the boardrooms and strategy documents, Johannes Kitaka is a father, a church member, and a believer in community-centered leadership.
“Yes, I’m the guy who fixes everything,” he laughs. “From watchmen to AI. But leadership is about humanity. If people can connect to your heart, then you’ve already won half the battle.”
Nevertheless, his parting words are a powerful reflection of his leadership philosophy.
“Anyone who doesn’t know their destination, every stop they find along the way becomes a destination. Clarity of vision is everything.”
As First Assurance looks forward to celebrating 100 years, it remains a company rooted in trust and vision.
With leaders like Dr. Kitaka at the helm, the future promises not only sustained growth, but also transformative impact.
