Prior to 1960, the Insurance Industry was composed of five (5) separate and distinct Associations namely:
- The Fire Association of East Africa
- The Marine & Aviation Association of East Africa
- The Accident Association of East Africa
- The Motor Association of East Africa
- The Life Offices Association of East Africa
Each Association was independent and had its own Chairman and Constitution. At a meeting held on 15th February, 1960, it was proposed to merge four (4) Associations namely Fire, Marine and Aviation, Accident and Motor Association to form one General Association referred to as the Insurance Association of East Africa which catered for General Insurance Business. The Life Offices Association of East Africa remained to promote Life Insurance Business.
Council of Kenya Insurers
Following the Collapse of the East African Community in 1977, local incorporation of Insurance companies began in 1978. It was then proposed to merge the Insurance Association of East Africa with the Life Office of East Africa to form the Council of Kenya Insurers (C.O.K.I). The Council of Kenya Insurers was officially registered on 27th July 1979 and for a decade.
The Association of Kenya Insurers
The Association of Kenya Insurers (AKI) was established in 1987 as an independent non-profit making consultative and advisory body for insurance industry. The Association was registered under the Societies Act, Cap 108 of the Laws of Kenya on 5 January, 1988 and on 21 January, 1988 the AKI Constitution was ratified and adopted by members. The Association currently has 50 members.
To be the leader in championing insurance growth and excellence in Kenya and beyond.
To champion and enabling environment for our members, and promote growth and excellence in the insurance industry.
The success of the Association built on five (5) key corporate values: -
- Honesty and confidentiality
AKI’s governance structure comprises of the general membership who elect a Board at an Annual General Meeting (AGM). The Board gives strategic direction to the Association and executes its decisions through General Insurance and Life Insurance Councils, Committees of the Board, Technical Committees and a Secretariat which runs the operations of the Association.
Graphical representation of AKI’s Governance structure is as shown below.