Equity Life Assurance Named Life Insurance Company of the Year at 2025 Think Business Awards
Equity Life Assurance Kenya Limited (ELAK) has been crowned Life Insurance Company of the Year at the 15th annual Think Business Insurance Awards, affirming its rapid rise and exceptional performance in Kenya’s life insurance sector.
The ceremony, held in Nairobi, celebrated outstanding players in the insurance industry, with ELAK emerging as a major winner. In addition to the top honor, the company scooped several other accolades, including Best Claim Settlement in Life Insurance, Most Customer-Centric Underwriter in Life Insurance, and Best Insurance Company in Ecosystem Partnerships and Cross-Industry Collaboration.
ELAK was also named first runner-up in the categories of Best Use of Technology in Insurance and Best Insurance Company in Sustainable Corporate Social Responsibility, underlining its commitment to innovation and ethical business practices.
“Our passion at Equity is deeply rooted in serving our customers with care and innovation,” said Angela Okinda, Managing Director and Principal Officer of ELAK. “These awards validate our efforts to offer inclusive, fast, and reliable life insurance solutions that empower Kenyans to secure their financial futures.”
Launched in March 2022, ELAK has rapidly gained ground, now ranked fourth in Kenya’s life insurance sector with a 9 percent market share and over 15 million policies issued to date. Its customer-first model, use of technology, and inclusive approach have positioned it as a transformative force in a sector where insurance penetration remains at just 2.4 percent .
Equity Group’s influence in the industry was further reinforced through its subsidiary, Equity Bancassurance Intermediary Limited (EBIL), which bagged three awards: Best Bancassurance Intermediary, Best in Life Products, and Excellence in Risk Management.
The 2025 Think Business Insurance Awards, themed “Ecosystem Partnerships and Cross-Industry Collaborations: Shaping Kenya’s Insurance Future,” highlighted the importance of strategic partnerships, fintech, and innovation in driving accessibility and growth within the sector.
“Despite the remarkable strides by industry leaders like Equity, Kenya still faces low insurance uptake,” said Ochieng’ Oloo, CEO of Think Business Limited. “To change this narrative, the industry must continue to innovate, build trust, and design products that resonate with the diverse realities of Kenyan households.”
The awards not only honored top performers but also served as a call to action for the industry to close gaps in access, awareness, and relevance as it contributes to national development goals under Vision 2030.
