NCBA Insurance is positioning marine insurance as a key growth area as Kenya’s trade, logistics and maritime sectors continue to expand, while strengthening partnerships with insurance intermediaries to boost insurance penetration across the country.
The insurer said the Coast region remains one of Kenya’s most strategic markets, driven by growth in tourism, logistics, infrastructure development, international trade and the blue economy, all of which are creating increasing demand for specialised insurance solutions.
Intermediaries at the Centre of Growth Strategy
Speaking during a broker engagement forum in Mombasa, NCBA Insurance Chief Executive Officer and Managing Director Stella Njung’e emphasised the critical role played by insurance agents, brokers and bancassurance partners in connecting customers with appropriate insurance products and supporting the company’s growth ambitions.
She said intermediaries remain the face of the business by building customer relationships, earning trust and helping individuals and businesses make informed decisions on protecting their assets.
“At NCBA Insurance, we are banking on belief. Belief in our people, our partners, and above all, belief in our intermediaries. Every day, you are the face of our business,” said Njung’e. The engagement was held under the theme “Stronger Together: Building Tomorrow’s Partnerships.”
Marine Insurance Emerging as a Key Opportunity
Njung’e identified marine insurance as one of the company’s priority growth segments, citing increasing demand for comprehensive cover as Kenya strengthens its maritime regulatory framework and compliance requirements within the shipping and logistics industry.
She noted that NCBA Insurance offers tailored solutions covering cargo, goods in transit, vessels and other maritime risks across the supply chain, positioning the company to serve importers, exporters, logistics providers and businesses operating within the blue economy.
“As Kenya strengthens its maritime regulatory framework and places greater emphasis on compliance within the shipping and logistics sector, businesses are increasingly recognising the importance of comprehensive marine insurance protection,” she said.
Growing Trade Driving Demand
According to the Kenya National Bureau of Statistics (KNBS), Kenya imports goods valued at more than KES 2.5 trillion annually, underscoring the growing need for marine insurance products that safeguard cargo and goods during transit.
The Coast region, home to Kenya’s principal gateway for international trade, continues to play a central role in facilitating imports and exports. Recent regulatory reforms, including the rollout of a digital marine cargo insurance framework, are expected to improve compliance while creating new opportunities for insurance intermediaries serving importers, exporters and logistics firms.
Strengthening Industry Partnerships
NCBA Insurance said the broker engagement forms part of its ongoing strategy to deepen collaboration with intermediaries through continuous engagement, knowledge sharing and investment in innovative insurance products.
The company aims to equip its partners with the expertise, products and support needed to unlock new business opportunities while delivering greater value to customers.
As it executes its growth strategy, NCBA Insurance said it will continue working closely with its intermediary network to increase insurance penetration, support Kenya’s expanding maritime and logistics sectors, and contribute to building a stronger and more
