The Insurance Regulatory Authority (IRA) has placed KUSCCO Mutual Assurance Limited under statutory management, effective March 10, 2026, citing risks to policyholders and the public.

• The Policyholders Compensation Fund (PCF) has been appointed as the statutory manager.
• KUSCCO Mutual Assurance Limited is now prohibited from entering into any new insurance contracts.
• This action follows ongoing investigations into alleged financial mismanagement at Kenya Union of Savings and Credit Co-operatives (KUSCCO), reportedly involving the loss of approximately Sh15 billion.