Comparison · Kenya, Uganda, Tanzania, Ethiopia
Insurance markets compared
Kenya, Uganda, Tanzania, Ethiopia, South Africa
Short answerChecked 28 October 2026
Kenya has the deepest insurance market of the four (2.39% of GDP, 2023), ahead of Tanzania (2.08%, 2024), Uganda (0.87%, 2024) and Ethiopia (0.3%, 2024/25). South Africa is in another league: its life insurers alone wrote R759,678 million of net premiums in 2025, and the register lists 59 life and 58 non-life insurers. In the four East African countries most people still have little or no private cover — which is why comparing before you buy matters.
Side by side
| Penetration (% of GDP) | Premiums | Licensed insurers | |
|---|---|---|---|
| Kenya | 2.39% (2023) | KES 235.39 bn life + KES 227.17 bn general (2025) | 22 life, 35 general, 5 micro (2026) |
| Uganda | 0.87% (2024) | UGX 1,763.99 bn (2024) | 9 life, 19 non-life, 4 micro (2026) |
| Tanzania | 2.08% (2024) | TZS 1,516.3 bn (2024) | 33 active on the register |
| Ethiopia | 0.3% (2024/25) | ETB 41.1 bn (2024/25) | 18 |
| South Africa | Not given in the Prudential Authority's report | R759,678 m life net premiums + R237,534 m non-life gross premiums (2025) | 59 life, 58 non-life, 19 micro (October 2026) |
The lists: Kenya, Uganda, Tanzania, Ethiopia, South Africa. Premiums are in each country's currency and for different years, so compare shares and trends, not amounts.
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Frequently asked questions
Which East African country has the highest insurance penetration?
Kenya, at 2.39% of GDP in 2023 according to IRA's annual report, followed by Tanzania at 2.08% in 2024.
How many insurance companies are there in Ethiopia?
18 licensed by the National Bank of Ethiopia (2024/25), plus the national reinsurer Ethio-Re. Ethiopia's penetration was 0.3% of GDP, the lowest of the four East African countries.
How many insurers are licensed in South Africa?
The Prudential Authority's register of October 2026 lists 59 life insurers, 58 non-life insurers and 19 microinsurers, plus captives, cell captives and reinsurers.
Sources
- Kenya — IRA Insurance Industry Annual Report 2023
- Kenya — IRA Q4 2025 industry release
- Uganda — IRA 2024 Annual Insurance Market Report
- Tanzania — TIRA Annual Insurance Market Performance Report 2024
- Ethiopia — NBE Financial Stability Report, March 2026
- South Africa — Prudential Authority, Annual Report 2025/26 (figures at 31 December 2025)
- South Africa — Prudential Authority (SARB), Insurers List (retrieved 29 October 2026)