Prime Insurance

What Prime Insurance does

Prime Insurance is a Rwandan insurance company founded in 1995 by Rwandan investors and licensed by the National Bank of Rwanda (BNR). The company operates a two-division structure: Prime Insurance Ltd handles general insurance products, and Prime Life Insurance Ltd handles life insurance. Together, these divisions offer a comprehensive portfolio across motor (Platinum, Passenger, and Solo tiers), property and fire (Fire to Complete+ tiers), travel, marine cargo, accident, liability, money, engineering risk (CAR, EAR, machinery breakdown, electronic equipment, contractor plant and machinery), and medical insurance (ISONGA for individuals/families/SMEs and IMENA for corporate groups), plus life products (group life, education, pension, loan protection, funeral, savings-with-risk, and employee protection). The company serves both individual consumers and corporate clients across Rwanda.

The distribution platform combines an extensive branch network of more than 30 locations — including Kigali offices and regional towns plus border posts (Rusumo, Gatuna, Kagitumba) — with digital channels comprising an online customer portal (apps.prime.rw), USSD self-service code (*177#) for non-internet users, a 24-hour toll-free call center (1320), qualified sales agents, and a multi-language website supporting approximately 18 languages. International medical care access is provided via reinsurance partnerships covering East Africa, India, and Europe (on referral or pre-authorization). Formal claims settlement timelines range from 30 minutes for simple accident claims to 5-7 working days for property and liability claims.

The revenue model is subscription-based recurring premiums across general and life insurance products, with pricing determined per quote based on risk assessment rather than public disclosure. Channels include direct-to-customer through branches, sales agents, call center, and self-service online and USSD. The company targets four primary segments: individual consumers, business and corporate clients, small and medium enterprises, and large corporations, with a horizontal segmentation strategy. Ownership is private and Rwandan-investor-led; no parent company, foreign investor, or public listing is disclosed in the available data.

Name

Prime Insurance

Legal name

Prime Insurance Plc

Website

https://prime.rw

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

51–100 employees

Short description

Prime Insurance is a Rwandan insurer founded in 1995, licensed by the National Bank of Rwanda, providing general and life insurance products (motor, property, life, medical, engineering, liability) to individual and corporate clients through 30+ branches, USSD self-service, an online portal, and a toll-free call center across Rwanda.

Ownership category

akta.pro rank

Headquarters

HQ city

Kigali

HQ country

Rwanda

HQ region

Africa

Offices22 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. General Insurance Premiums: Collection of insurance premiums from general insurance products including motor, property, travel, marine, accident, liability, engineering, and medical insurance. Revenue is generated through policy subscriptions with premiums based on risk assessment.
2. Life Insurance Premiums: Collection of life insurance premiums from products including group life, education, pension, loan protection, and funeral insurance. Revenue is generated through regular premium payments by policyholders.
3. Claims Processing: Revenue from the spread between premiums collected and claims paid out, with claims settlement timelines ranging from 30 minutes (simple accident claims) to 7 business days (liability claims).

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Prime Insurance is a Rwandan insurance company that underwrites and distributes life and general insurance products, including motor, property, travel, marine, accident, liability, engineering, medical, and life insurance coverage for individuals, families, SMEs, and corporate clients. Insurance products are sold and serviced through 30+ physical branches across Rwanda, a USSD self-service platform (*177#), an online customer portal (apps.prime.rw), a toll-free call center (1320), and a network of qualified sales agents, with claims handled within 30 minutes to 7 business days depending on complexity.

Product overview

Prime Insurance is a Rwandan insurance company established in 1995, offering both Life Insurance and General Insurance product lines. The Life Insurance portfolio includes Loan Protection, Education (Umurage w'Amashuri), Intego (savings-with-risk), Family/Nkunganire Shoferi, Group Life, Employee Protection, Ikimina Cyacu, and Pension products. The General Insurance portfolio includes Motor (Platinum/Passenger/Solo tiers), Property & Fire, Travel, Marine Cargo, Money, Liability, Business Property (Fire to Complete+ tiers), Business Accident (Workmen's Compensation/Group Personal Accident), Engineering Risk (Contractors All Risks, Erection All Risks, Machinery Breakdown, Electronic Equipment All-Risk, Contractor Plant and Machinery), and Prime Medical Insurance (ISONGA and IMENA plans). The company provides individual, family, SME, and corporate coverage with access to international healthcare networks.

Differentiator

Problem solved

Functional benefit

Brands

• ISONGA Plan: Medical insurance plan aligned to the demand of individuals, families, and small businesses with medical insurance coverage. Facilitates treatment in Rwanda, East Africa-wide access plus India and Europe on referral or pre-authorization.
• IMENA Plan

Products and services

• Motor Insurance Vehicle insurance covering third-party liability, own damage, fire, and theft, offered in three tiers: Platinum (comprehensive including bodily injury, property damage, own damage, fire and theft, plus free towing), Passenger (third-party bodily injury and property damage with occupant cover), and Solo (third-party liability with bodily injury for licensed drivers); special rewards are provided for female clients and safe drivers.
• Property Insurance Home insurance covering buildings and contents against fire, lightning, explosions, earthquakes, storm, car/airplane damage, theft, water damage, glass damage, vandalism, and neighboring property liability, with tiers from basic Home Fire coverage to comprehensive Home Sleep easy+.
• Travel Insurance Insurance coverage for travel-related risks and emergencies during domestic and international trips.
• Marine Cargo Insurance Insurance coverage for marine cargo and goods in transit via sea, air, or land transport.
• Personal Accident Insurance Personal accident coverage providing protection against injuries and related expenses for individuals.
• Money Insurance Coverage for cash-in-transit and money-related risks for businesses handling significant cash flows.
• Liability Insurance Public liability coverage protecting businesses against third-party bodily injury and property damage claims, settled within 7 working days.
• Business Property Insurance Commercial property coverage for buildings and contents against fire, lightning, explosions, earthquakes, storms, theft, vandalism, and other perils, with tiers ranging from Fire-only to Complete+ coverage.
• Business Accident Insurance Employee protection covering Workmen's Compensation (workplace and commute accidents) and Group Personal Accident (worldwide coverage during work and private activities), with claims settled within 30 minutes for easy cases and 3 working days after required documents.
• Engineering Risk Insurance Comprehensive engineering insurance portfolio including Contractors All Risks (CAR), Erection All Risks (EAR), Machinery Breakdown, Electronic Equipment All-Risk, and Contractor Plant and Machinery coverage for construction and operational risks.
• Business Motor Insurance Commercial vehicle insurance tailored for business fleets and company-owned vehicles.
• Bid Bond Recourse Surety bond product covering bid security for contractors participating in tenders.
• Prime Medical Insurance Customizable medical insurance packages offered in two distinct plans: ISONGA (for individuals, families, and small businesses, with Rwanda and East Africa-wide access plus India and Europe on referral or pre-authorization) and IMENA (corporate groups of minimum 10 employees, with East Africa-wide access, India on referral, and Europe on pre-authorization or reimbursement).
• Group Life Insurance Life insurance coverage for groups and organizations, providing death benefit protection to members.
• Education Insurance (Umurage w'Amashuri) Long-term savings plan ensuring children's education is funded even if the policyholder passes away or becomes permanently disabled.
• Pension Insurance Retirement savings and pension products for individuals and groups to secure financial future.
• Loan Protection Insurance Coverage that pays off outstanding loan balances in case of borrower's death or disability, protecting families from debt burden.
• Funeral / Family Insurance (Nkunganire Shoferi) Coverage for funeral expenses and related costs, providing financial support to families during difficult times.
• Employee Protection Insurance Workplace protection products including group personal accident and workmen's compensation coverage for employees.
• Savings-with-Risk Insurance (Intego / Ikimina Cyacu) Savings-with-risk insurance products combining investment accumulation with life protection benefits for accumulated wealth protection and growth.

Quantifiable outcome

• 30-minute claim settlement for simple accident claims
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Mugolds InternationalminorStrategic or Co-development PartnerMugolds International is a fire protection specialist that provides discounted fire-fighting equipment to Prime Insurance customers. This partnership allows Prime to offer added value to property insurance customers through access to discounted fire safety equipment.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Britam Holdings: Kenya-headquartered East African insurance and financial services group with operations across Kenya, Uganda, Tanzania, Rwanda, Mozambique, and Malawi, offering life, general, and health insurance at significantly greater scale than Prime.
• Jubilee Insurance: Established East African insurance group with multi-country operations including Kenya, Uganda, Tanzania, Burundi, and Rwanda, offering the same multi-line life and general insurance products as Prime but with deeper capital and broader geographic reach.
• Sanlam: South African financial services group with growing East African insurance operations, providing life and general insurance at materially larger scale and competing for the same regional corporate and high-net-worth segments Prime targets.
• Old Mutual: Pan-African insurance and investment group with operations across East and Southern Africa, offering life, general, and investment-linked insurance products that overlap directly with Prime's life and savings portfolio.
• Allianz Africa: Global insurer with an expanding African footprint, including East African partnerships and direct operations; competes with Prime in commercial, corporate, and specialty lines where global capital and reinsurance capacity matter.
• UAP Old Mutual: Pan-East African insurance company offering life, general, and health insurance across Uganda, Kenya, Tanzania, Rwanda, and South Sudan, competing with Prime across overlapping product lines in the Rwandan market.
• AXA (Africa operations): Global insurance group with selective African operations and partnerships, including in East Africa; represents the kind of multinational incumbent that could enter the Rwandan market more aggressively and pressure Prime on corporate accounts.

Direct peers

• I&M Insurance Rwanda: Insurance arm of the I&M Group in Rwanda offering general insurance products and bancassurance distribution, competing directly with Prime for both retail and corporate customers in the Rwandan market.
• Radiant Assurance: Rwandan general insurance company operating in the same Kigali-based domestic market with overlapping motor, property, fire, and accident insurance offerings for individuals and SMEs.
• Sonas Insurance: Rwandan-headquartered insurer offering general and life insurance products to individuals and businesses across Rwanda, directly competing with Prime on motor, property, accident, and life lines.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/primeins_ltd
• Facebookfacebook.com/prime.rwanda
• LinkedInlinkedin.com/company/prime-insurance-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prime Insurance