Co-founder of SportPesa and current MP for Kasarani, Ronald Karauri, along with several investors, has introduced a new player in the general insurance sector.
The newly established Definite Assurance Company Limited, which secured Sh600 million in funding, intends to tackle the issues encountered by insurers in the public service vehicle (PSV) industry.
On December 11, 2024, the company received its license from the Insurance Regulatory Authority (IRA) and is permitted to offer a variety of general insurance products, including medical, fire, aviation, and home insurance, among others.
Definite Assurance Company Limited, co-founded by Ronald Karauri, a SportPesa co-founder and current MP for Kasarani, has made its debut in the Kenyan general insurance field.
The firm, which successfully raised Sh600 million in capital, specifically aims to mitigate the insurance challenges faced by the public service vehicle (PSV) sector.
Definite Assurance Company Limited is now authorized to offer a broad spectrum of insurance services, encompassing medical, fire, vehicle cover, aviation, and home insurance.
This initiative marks a significant step for Karauri and his associates to expand their business portfolio into the insurance sector, targeting specific market areas that have traditionally been less lucrative or more difficult for insurers.
