END OF ROAD FOR UNITED INSURANCE AS CREDITORS TOLD TO FILE CLAIMS

United Insurance Company has entered the final stage of liquidation after the court-appointed liquidator directed all creditors to lodge their claims ahead of a decisive meeting next week.
In a notice dated September 25, 2025, liquidator Kamal Anantroy Bhatt convened a virtual creditors’ meeting for Thursday, October 2 at 10:00 a.m. The session will review the status of the liquidation, approve payments to creditors, and consider the sale of the firm’s remaining assets.
The High Court’s Commercial and Tax Division ordered the company wound up in July 2024 under the Insolvency Act, 2015, citing chronic breaches of the Insurance Act and years of financial mismanagement. At the time, United Insurance’s liabilities—estimated at KSh 2.25 billion—far outstripped its assets of about KSh 475 million, leaving a liquidity ratio of just 0.03:1 against the statutory minimum of 1:1.
The court also flagged the insurer for issuing unsecured loans to directors and subsidiaries, failing to keep proper books of account and neglecting statutory levies.
United Insurance had been under statutory management since 2006, making the liquidation the culmination of nearly two decades of regulatory intervention. Creditors who wish to recover funds must now register their claims before the October meeting.