Stima DT Savings and Credit Cooperative Society Limited (Stima Sacco) has converted its insurance arm into a fully licensed brokerage, Mpawa Insurance Brokerage, to diversify revenue and offer a wider range of insurance solutions to its members and the public.

• The conversion allows Mpawa Insurance Brokerage to shop the market, representing clients rather than a single insurer.
• According to CEO Gamaliel Hassan, the new brokerage will not underwrite risks directly but acquire and transfer business for a fee, avoiding heavy capital requirements.
• The move aims to eliminate agent interference and biased recommendations, focusing on client-specific needs and acting as a professional advocate during the claims process.
• Mpawa Insurance Agency previously grew premiums from Sh147 million in 2019 to Sh267 million in 2021.
• Backed by Stima Sacco's asset base of Sh75.27 billion and a liquidity ratio of over 90 percent, the brokerage is capitalized to compete regionally.