First Assurance
First Assurance is a 95-year-old Kenyan composite insurer and Absa Group subsidiary offering motor, health, travel, marine, fire and engineering cover to individuals, SMEs, corporates, and professional-association members via seven branches, an online portal, agents, and a mobile-money-integrated marine cargo channel.
- Company typePrivate
- Founded1930
- HeadquartersLavington, Australia
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What First Assurance does
First Assurance Company Limited is a Kenyan composite insurance company founded in 1930 and headquartered in Lavington, Nairobi. It operates as a wholly-owned subsidiary of Absa Group Limited following Absa's 2018 acquisition, providing consumer, SME, and corporate insurance across motor, medical, travel, marine, fire, engineering, liability, group and specialty lines. The company distributes through seven branches across Kenya (Nairobi HQ + Town Office, Mombasa, Kisumu, Nakuru, Eldoret, Nyeri), a digital self-service portal (selfservice.firstassurance.co.ke), independent insurance agents, and a professional-association channel anchored by a January 2025 partnership with ICPAK. Sub-brands (First Med, Bima Taasisi, First Afya Biashara) target individual health, institutional multi-peril, and SME medical respectively. Pricing is quote-driven and risk-based across annual and short-term policies, with revenue generated primarily through recurring insurance premiums.
The company's technology stack centers on an insurance technology platform supporting online quote generation, policy issuance, claims management, and customer self-service for motor, travel, and marine products. A February 2024 'First Things First' campaign introduced generative AI-powered personalized marketing across SMS, email, and automated calling. In compliance with the Insurance Regulatory Authority's mandate effective 14 February 2025, the company is developing APIs connecting to the M-Pesa Super App's Coral Mini App for digital Marine Cargo Insurance Certificate issuance. These capabilities sit alongside conventional underwriting and claims workflows.
The business model is subscription/recurring: gross written premium from individual, SME, and corporate policyholders is the primary revenue stream, supplemented by specialization in vertical-specific products (educational/religious institutions, professional associations). Distribution blends direct branch sales, digital self-service, independent agents, and association-affiliated account managers, with cross/upsell across health, motor, and property lines driving unit economics.
First Assurance firmographics
Firmographics- Name
- First Assurance
- Legal name
- First Assurance Company Limited
- Website
- https://firstassurance.co.ke
- Company type
- Private
- Founded year
- 1930
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- First Assurance is a 95-year-old Kenyan composite insurer and Absa Group subsidiary offering motor, health, travel, marine, fire and engineering cover to individuals, SMEs, corporates, and professional-association members via seven branches, an online portal, agents, and a mobile-money-integrated marine cargo channel.
- Ownership category
- akta.pro rank
First Assurance industry classification
Industry- Product category
- General Insurance
- NAICS
- Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114)
- SIC
- Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Mid-Market Commercial Package (Package Policies) (FSAJAFAB)
- akta.pro secondary industry
- Professional Umbrella / Excess (E&O/D&O Wrap) (FSAJANAH)
Keywords
Where First Assurance is headquartered
LocationHeadquarters
- HQ city
- Lavington
- HQ country
- Australia
- HQ region
- Oceania
Offices7 records
Markets served
First Assurance business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Insurance Premium Revenue: First Assurance generates revenue through collection of insurance premiums from individuals, families, and corporate clients for various insurance products including motor, medical, travel, home, marine, fire, and liability coverage. Premiums are collected on annual or short-term policy bases depending on product type.
- Individual Insurance Products: Revenue from individual/family insurance products including motor, travel, personal accident, home, First Med medical cover, golfers insurance, political violence and terrorism coverage.
- Corporate Insurance Products: Revenue from business insurance solutions including group medical, SME packages, engineering covers, marine insurance, fire insurance, goods in transit, liabilities, and enhanced group employee benefits.
- Professional Association Partnerships: Revenue from specialized insurance products offered exclusively to members of professional bodies like ICPAK, including motor private, professional indemnity, and group/individual medical cover.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Motor Insurance - Comprehensive, Third Party Fire & Theft, Third Party Only |
| Unit Pricing | Annual | Goods in Transit - 500,000 to 5,000,000 Cover Options |
| Subscription | Annual | Bima Taasisi - Institutions (0.75% indicative rate) |
| Subscription | Annual | AI-Powered Marketing Campaign (First Things First) |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels8 records
First Assurance product offering
Product offeringCore offering
First Assurance is a Kenyan general insurance company that underwrites and distributes a broad portfolio of insurance policies for individuals, families, and businesses. Its offerings span motor, medical/health, travel, home, marine cargo, fire, engineering, liability, goods-in-transit, and specialty covers (political violence, golfers, institutional). The company serves customers through 7 physical branches across Kenya, a digital self-service portal, independent agents, and partnerships with professional bodies.
Product overview
First Assurance is a Kenyan insurance company with over 95 years of experience, operating as a subsidiary of Absa Group Limited. The company offers a comprehensive portfolio of insurance products across two main categories: Individual Products and Corporate Products. Individual products include First Med (health insurance), Personal Accident, Home Insurance, Travel Insurance, Political Violence & Terrorism, Golfers Insurance, Motor Insurance, and ICPAK exclusive covers. Corporate products include First Afya Biashara (SME medical), Group Medical, SME multi-section package, Travel Insurance (Corporate), Engineering covers (Contractors All Risk, Erection All Risk, Contractors Plant & Machinery, Electronic Equipment, Machinery Loss of Profits), Liabilities (public liability, employer's liability, professional indemnity), Goods in Transit, Marine Insurance, Accident & Miscellaneous covers, Fire Class, Bima Taasisi (institutional insurance), and Enhanced Group coverage. The company provides digital platforms for online quote acquisition, policy management, and claims processing through its self-service portal.
Differentiator
Problem solved
Functional benefit
Brands
- First Med: Specialized health insurance solution providing quality medical coverage for individuals and families.
- Bima Taasisi
- First Afya Biashara
Products and services
- Motor Insurance
Quantifiable outcome
- 24/7 customer support availability
- +2 more outcomes
Companies that use First Assurance
Customer profileNamed customers1 record
Segments5 records
Ideal customer profiles5 records
First Assurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability2 records
Feature3 records
First Assurance partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ICPAK (Institute of Certified Public Accountants of Kenya)coreFirst Assurance partnered with ICPAK to enhance insurance penetration among ICPAK's registered members. Through this partnership, ICPAK members enjoy exclusive access to insurance products including private motor cover, auditors/accountants professional indemnity, family/individual medical cover, and SME/corporate medical cover. The partnership aims to address the insurance gap by providing products specifically designed to meet the unique needs of accounting professionals.
Scale indicators6 records
Recent moves5 records
Expansion highlights5 records
First Assurance competitors and assessment
Company assessmentDirect peers
- Madison Insurance:
- AAR Insurance: AAR Insurance is a leading health-focused Kenyan insurer. It directly competes with First Assurance's Group Medical, First Med, and First Afya Biashara products with significant overlap in corporate and individual health insurance customers.
- Sanlam Kenya: Sanlam Kenya (formerly Pan Africa Insurance) provides general insurance, life insurance, and financial services in Kenya as part of the pan-African Sanlam group. It is a direct peer to First Assurance in the multi-line insurance market with overlapping product and customer segments.
- ICEA Lion Group: ICEA Lion is a major Kenyan insurance and financial services group offering general insurance, life insurance, pensions, and investments. It is a direct peer to First Assurance in the Kenyan P&C, group medical, and SME insurance markets.
- Jubilee Insurance: Jubilee Insurance is one of the largest insurance groups in East Africa, providing P&C, life, and medical insurance across multiple countries. It is a direct competitor to First Assurance in Kenya and the broader region with a similar multi-line, multi-channel product offering.
- Britam Holdings: Britam Holdings is a leading Kenyan insurance group offering P&C, life, medical, and asset management products. It is a direct competitor to First Assurance across most product lines and serves similar individual, SME, and corporate segments in the Kenyan and broader East African market.
- APA Insurance: APA Insurance, part of Apollo Investments Limited, is a leading Kenyan general insurer with P&C, medical, and life products. It directly competes with First Assurance in the Kenyan P&C, motor, and corporate insurance segments with a comparable mid-market focus.
- UAP Old Mutual Insurance: UAP Old Mutual is a leading East African insurer offering general and life insurance across Kenya, Uganda, Tanzania, and Rwanda. It directly competes with First Assurance in the Kenyan general insurance market with comparable product breadth and branch distribution.
- Liberty Kenya: Liberty Kenya is part of Liberty Holdings (now within the Standard Bank group) and offers general and life insurance in Kenya. It is a direct peer to First Assurance in the multi-line insurance market with overlapping individual, SME, and corporate customer bases.
Others
- Absa Life Assurance Kenya: Sister company under the Absa Group umbrella, Absa Life Assurance Kenya provides life insurance products that complement First Assurance's general insurance offering. The two share distribution through Absa Bank Kenya, making them ecosystem peers rather than direct competitors.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
First Assurance social profiles
Digital presenceFirst Assurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Assurance leadership team
Management profileNumber of profiles
Profiles3 records
First Assurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Assurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Assurance
What does First Assurance do?
First Assurance is a Kenyan general insurance company that underwrites and distributes a broad portfolio of insurance policies for individuals, families, and businesses. Its offerings span motor, medical/health, travel, home, marine cargo, fire, engineering, liability, goods-in-transit, and specialty covers (political violence, golfers, institutional). The company serves customers through 7 physical branches across Kenya, a digital self-service portal, independent agents, and partnerships with professional bodies.
Is First Assurance a public or private company?
First Assurance is a private company. It is classified as corporate owned and is currently operating.
When was First Assurance founded?
First Assurance was founded in 1930. It employs 1 to 10 people.
Where is First Assurance based?
First Assurance is headquartered in Lavington, Australia, in the Oceania region.
How does First Assurance make money?
Four revenue lines are on record. Insurance Premium Revenue is the primary driver. The others are individual Insurance Products, corporate Insurance Products and professional Association Partnerships.
Who are First Assurance's main competitors?
Direct peers on record are Madison Insurance, AAR Insurance, Sanlam Kenya, ICEA Lion Group, Jubilee Insurance, Britam Holdings, APA Insurance, UAP Old Mutual Insurance and Liberty Kenya. Absa Life Assurance Kenya is listed as an others.
Does First Assurance have an API?
Yes. First Assurance is developing APIs to connect their systems with approved mobile money platforms for seamless data exchange as part of digital Marine Cargo Insurance Certificate issuance. The Insurance Regulatory Authority (IRA) mandated that from February 14, 2025, insurance companies issue Marine Cargo Insurance Certificates digitally. Importers can procure insurance through the digital platforms of home companies or through the Coral Mini App hosted on the M-Pesa Super App.
What industry is First Assurance in?
First Assurance's product category is General Insurance. Its primary akta.pro industry code is FSAJAFAB, Mid-Market Commercial Package (Package Policies), with a secondary code of FSAJANAH, Professional Umbrella / Excess (E&O/D&O Wrap). Its NAICS code is 52412 and its SIC code is 6331.