Sharp Daily
No Result
View All Result
Monday, October 20, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home Business

Insurance watchdog reassures policyholders on Directline operations

Huldah Matara by Huldah Matara
December 24, 2024
in Business
Reading Time: 1 min read

The Insurance Regulatory Authority (IRA) has addressed recent allegations made by Dr. S.K. Macharia regarding the regulation of Directline Assurance Company Limited. In a press release issued on December 23, 2024, the IRA assured the public and policyholders of the insurer’s operational legitimacy and compliance with regulatory standards.

“Directline Assurance Company Limited continues in operation as licensed and approved by IRA,” affirmed Godfrey K. Kiptum, the Commissioner of Insurance and Chief Executive Officer. “All insurance policies issued by Directline remain in full force and effect, and policyholders are assured that their contracts remain valid.”

The IRA further stated that Directline remains fully liable for any claims arising under its policies, refuting any contrary claims as lacking legal basis.

Responding to demands for rectification of CR12 forms—a statutory document issued under the Companies Act—the IRA clarified that such forms fall under the jurisdiction of the Business Registration Service. “IRA has no legal mandate to alter or amend CR12 forms,” Kiptum noted. He emphasized that any claims regarding ownership and shareholding structure of Directline must adhere to appropriate regulatory channels.

RELATEDPOSTS

Kenya’s insurance sector in 2025

May 22, 2025

Directline Assurance ceases operations amid ownership dispute

September 15, 2024

The IRA also addressed concerns about due process and stakeholder communication. The statement assured that the authority continues to uphold transparency and accountability in its regulatory oversight. “IRA is steadfast in its regulatory duties and remains committed to safeguarding the interests of stakeholders and policyholders,” the release concluded.

This announcement comes amid heightened public scrutiny following a cautionary advert aired regarding Directline policies under Royal Credit Limited. The IRA reiterated its commitment to ensuring insurers comply with legal frameworks and urged stakeholders to rely on verified information.

Previous Post

End the year right: secure your 2025 goals with CMMF

Next Post

Law Society of Kenya calls for overhaul of Judiciary amid abduction claims

Huldah Matara

Huldah Matara

Versatile multimedia journalist with a keen interest in compelling stories that resonate with my audience. Reach out on huldahmatara12@gmail.com

Related Posts

Business

COMESA’s digital retail payments platform enters trial phase

October 14, 2025
Business

Kenya’s Regulated SACCOs Cross Trillion Shilling Mark

October 2, 2025
Business

Airbnbs or Ubers? The first-time investor in Nairobi

September 18, 2025
Analysis

Kenya’s new banking policies: A turning point for the financial sector

September 11, 2025
Analysis

Why private credit gaining traction in emerging markets

August 21, 2025
Analysis

EABL posts 12.2% profit surge, strengthens regional footprint despite rising illicit trade

August 1, 2025

LATEST STORIES

The Challenge of Preserving Retirement Savings in Kenya

October 16, 2025

Understanding Segregated vs Guaranteed Pension Schemes

October 16, 2025

The Sanlam-Jubilee deal

October 16, 2025

Kenya’s industrial real estate awakening

October 16, 2025

Stanbic Kenya in advanced talks to acquire NCBA: A game-changer in Kenya’s banking sector

October 16, 2025

CBK flags surge in financial fraud as losses triple to KES 1.6 billion

October 15, 2025

StanChart Kenya retirees face fresh legal stalemate over KES 7.0 billion pension payout

October 15, 2025

U.S. bank earnings take center stage amid government data freeze

October 15, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024