AAR Insurance has celebrated 40 years of existence in the insurance sector in Kenya with a gala dinner.
The event showcased AAR Insurance’s remarkable journey from its inception in 1984 to becoming one of Kenya’s trusted names in insurance. Over the last four decades, AAR has played a role in providing affordable and innovative insurance solutions to individuals, families, and businesses.
The keynote speech was delivered by Kenya’s Insurance Regulatory Authority’s Director of Legal Service, Diana Sawe, on behalf of the CEO, Godfrey Kiptum, who applauded AAR’s enduring commitment to delivering accessible and reliable insurance solutions. She highlighted the regulatory body’s dedication to strengthening Kenya’s insurance sector and emphasised AAR’s critical role in fostering an inclusive insurance landscape. “AAR Insurance has set a standard in ensuring that insurance remains accessible, flexible, and responsive to Kenya’s dynamic market needs,” she remarked. “As the sector evolves, continued focus on regulatory compliance and customer-first innovation will help Kenya move towards a fully insured population. Our insurance penetration rate remains relatively low, currently around 3.1% of GDP. This statistic highlights the immense potential for further development in our industry. Adopting micro-insurance products has been one of the vital steps in expanding access, allowing us to cater to the needs of low-income segments and enhance financial inclusion. Let us work together to increase market penetration and leave no Kenyan behind.”
During his address, AAR Insurance CEO Justine Kosgei reflected on the company’s operational achievements, highlighting AAR’s continued investments in digital transformation, customer-centric services, and innovative insurance products tailored to Kenyans’ evolving needs. “This evening is a tribute to our shared journey and the dedication of our clients, partners, and employees who have been the pillars of our success,” he said. “As we step into the next decade, AAR remains committed to leading the industry with operational excellence, unwavering integrity, and innovative solutions that respond to the realities of today and tomorrow.”