Kenya and the United Kingdom have launched the UK-Kenya Strategic Partnership 2025-2030 to strengthen ties and boost economic growth. The deal will see Lloyd’s of London enter the Nairobi insurance market.
In a statement on July 3, 2025, Kenya’s Foreign Affairs Cabinet Secretary Musalia Mudavadi announced that the partnership will pave the way for Lloyd’s of London to enter the Nairobi insurance market, positioning the city as a gateway to the East African market.
“The Partnership will see Lloyd’s of London enter the Nairobi insurance market as a gateway to the East African market valued up to £0.5 billion (Ksh 88 billion). Over the next five years, Kenya and the UK will deliver on high-value investment deals of mutual benefit to both economies,” read part of the statement.
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About Lloyd’s of London
Lloyd’s is the largest commercial reinsurance and insurance marketplace in the world.
It acts as a facilitator, connecting underwriters, those who accept risk, with brokers, who represent insurance buyers.
Lloyd’s is known for insuring complex, high-value, or unusual risks that many other insurers are unable or unwilling to cover.
It brings together more than 50 insurance companies, over 380 registered brokers, and a global network of more than 4,000 local cover holders who facilitate business across the market.
History
Lloyd’s traces its origins to a coffee shop by the Thames in the 1680s, where merchants, shipowners, and underwriters gathered to do business.
Over the years, it has evolved into a leading global market for specialist insurance.
Its history reflects a continuous process of learning and adapting to risks, driven by innovation and a focus on building a more secure future.
Also Read: Mergers and Acquisitions in Kenya’s Insurance Sector
UK-Kenya Partnership
As part of the visit, the Kenyan delegation also held discussions with UK government officials on the Nairobi Railway City project which is valued at up to Ksh26 billion, with the potential to create 10,000 direct and indirect jobs in Kenya.
“The Nairobi Railway City (NRC) – a flagship project, exemplifies what is possible when ambition meets partnership. NRC is more than a transport hub; it is a symbol of Kenya’s future. Anchored at the new Nairobi Central Station, this multimodal development will seamlessly integrate with the expanding commuter rail, Bus Rapid Transit (BRT), PSV and non-motorized corridors. It is designed to our capital’s full potential as a global hub for investment,” stated Prime Cabinet Secretary Musalia Mudavadi.
Additionally, both countries have agreed to explore a new Digital Trading Agreement and aim to double trade by 2030, focusing on key sectors such as financial services, digital and technology, and defence and security.
Both governments also agreed to further their joint leadership on climate and nature, mobilizing at least Ksh 35 billion for Kenyan climate adaptation.
Both governments also agreed to strengthen their joint leadership on climate and environmental initiatives, committing to mobilize at least Ksh 35 billion to support Kenya’s climate adaptation efforts.
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