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Absa Life Assurance Kenya will now trade as First Assurance Life after Absa Group sold its entire stake in the insurer: First Assurance Investments Limited has completed the purchase of 100% of First Assurance Holdings Limited. The holding company owns First Assurance Company Limited and Absa Life Assurance Kenya Limited. The deal closed after regulatory approvals and other customary conditions were met, according to a public announcement covered by Capital FM on 9 November and People Daily on 8 November 2026.
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What changed in the ownership deal
The shares were transferred to First Assurance Investments Limited from two Absa entities: Absa Financial Services Africa Holding Proprietary Limited and Absa Insurance Company Limited. With the sale, Absa no longer holds any stake in the holding company or its two insurers. The announcement was signed by Githanji Waiguru, managing director of Absa Life Assurance Kenya, and Stephen Lokonyo, managing director of First Assurance Company.
The announcement and the reports did not disclose the price.
The two new First Assurance names
| Old name | New trading name | Business |
|---|---|---|
| Absa Life Assurance Kenya Limited | First Assurance Life | Life assurance |
| First Assurance Company Limited | First Assurance General | General insurance |
For six months First Assurance Life and First Assurance General will add the line “Formerly an Absa Group Company” to their branding, so customers can recognise them during the switch.
What First Assurance Life and General policyholders should do
The companies said customers’ products and services are not affected. “We would like to assure all our customers, policyholders and stakeholders that our products and services are not affected by this transaction,” the announcement said. Existing distribution agreements with Absa Bank Kenya Plc remain in place. Covers bought through Absa branches are therefore not expected to change.
Practical steps for policyholders:
- Keep your policy number and schedule. The contract stays with the same legal entity, which now trades under a new name.
- Check that any agent or website using the new names is genuine. The Insurance Regulatory Authority publishes the list of licensed insurers, and the legal entities behind First Assurance Life and First Assurance General have not changed.
- Expect letters, statements and receipts to start showing First Assurance Life or First Assurance General.
- Before changing how you pay premiums, confirm any new payment details through the insurer’s official channels. Rebranding periods attract fraudsters.
- For claims, follow our First Assurance claims process guide, and use the official numbers in our First Assurance contacts list.
Why the deal matters for the market
Kenya’s banks have long used insurance arms to sell cover to their own borrowers and account holders. Absa’s exit shows a different model: the bank keeps selling policies through its branches but no longer owns the underwriter that carries the risk. For customers, the key question is service, not ownership. Watch claim turnaround times, renewal terms and premium changes over the next year. If you are unhappy with how a claim is handled, you can escalate a complaint to the Insurance Regulatory Authority after using the insurer’s own complaints process.
Comparing covers after the change? See our list of leading insurance companies in Kenya.
Frequently asked questions
Who now owns First Assurance?
First Assurance Investments Limited, which bought 100% of First Assurance Holdings Limited from Absa Group.
What is Absa Life Assurance Kenya called now?
It is rebranding as First Assurance Life. First Assurance Company Limited becomes First Assurance General.
Do I need a new policy after the sale?
No. The companies say products and services are not affected, and existing policies continue under the new names.
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