Celebrating Excellence at the 10th African Insurance Awards
The insurance industry across the African continent was in the spotlight on May 26, 2025, as Africa Re hosted the 10th annual African Insurance Awards in Addis Ababa, Ethiopia. Celebrating a decade of excellence, the awards have become a premier platform for honoring achievements in leadership, performance, innovation, and technology within Africa’s dynamic insurance landscape.
The 2025 edition reinforced the legacy of the awards as not only a showcase of corporate excellence but also a celebration of how African insurers are shaping the future of risk management and digital transformation. This year’s event upheld tradition by recognizing industry leaders who have driven long-term growth and innovation in their respective markets.
African Insurance Awards Spotlight Industry Excellence
The African Insurance Awards 2025 featured four core categories designed to highlight leadership, innovation, and progress across the industry.
Insurance Company of the Year: Mayfair Insurance (Kenya)
Kenya’s Mayfair Insurance claimed the Insurance Company of the Year title, a testament to its strong financial standing, expanding market share, and unwavering commitment to policyholders. Recognized for pushing insurance penetration deeper into East Africa, Mayfair continues to set the standard in underwriting discipline and regional strategy.
Its customer-focused approach and risk management practices positioned it as a standout performer in a competitive pool of nominees. Mayfair’s efforts in promoting financial inclusion further solidify its reputation as a top-tier insurer in Africa.
CEO of the Year: Ashok Shah, APA Apollo Group (Kenya)
The CEO of the Year award went to Ashok Shah, the longstanding leader of APA Apollo Group. With over three decades in the industry, Shah was recognized for exceptional corporate governance, strategic growth, and the expansion of APA’s operations both domestically and internationally.
Shah’s focus on sustainability and inclusive insurance solutions in underprivileged communities has not only accelerated growth but also strengthened trust among stakeholders across the continent.
Innovation of the Year: Discovery Insure (South Africa)
South Africa’s Discovery Insure received the Innovation of the Year award for its pioneering approach to usage-based insurance and digital engagement. The company’s Vitality Drive initiative, which rewards safe driving behaviors, exemplifies the integration of behavioral science into insurance.
By leveraging AI, data analytics, and personalized offerings, Discovery Insure continues to redefine how insurers interact with and protect policyholders. Its innovation-led strategy has made a measurable impact on both claims reduction and road safety.
Insurtech of the Year: Safaricom Insurance Agency Limited (Kenya)
In the insurtech category, Safaricom Insurance Agency Limited was named Insurtech of the Year, marking a significant moment for technology-driven insurance delivery in Africa.
As a subsidiary of Kenya’s telecom giant Safaricom, the agency uses mobile technology to provide microinsurance and health coverage to underserved populations. Its integration with M-Pesa has allowed millions of Kenyans to access insurance with unprecedented convenience, making a substantial contribution to financial inclusion across the region.
Each award winner received USD 25,000, underlining the value Africa Re places on excellence and transformative contributions within the industry.
African Insurance Awards Support Emerging Talent through YIPP
The awards ceremony also spotlighted the Young Insurance Professionals Program (YIPP)—a flagship initiative launched by Africa Re in 2018. Now in its sixth edition, the YIPP aims to cultivate the next generation of African insurance leaders through mentorship, hands-on experience, and technical training.
During the 2025 event, the ten most promising candidates from this year’s cohort were introduced, demonstrating Africa Re’s long-term investment in talent development and leadership sustainability.
African Insurance Awards Mark a Decade of Impact and Future Promise
Over the past ten years, the African Insurance Awards have become instrumental in promoting best practices, innovation, and leadership across the insurance ecosystem. By rewarding excellence at both individual and corporate levels, the awards inspire progress and set benchmarks for future performance.
As the continent’s insurance market contends with emerging risks—from climate change and health crises to digital disruption—strong leadership and innovative solutions are more vital than ever. This year’s ceremony not only honored past achievements but also highlighted a vision for a resilient and technology-empowered future.
Conclusion: African Insurance Awards Showcase Resilience and Vision
The 2025 African Insurance Awards were far more than a celebration—they served as a powerful reminder of how insurers contribute to Africa’s socio-economic resilience. Whether through cutting-edge technology, inclusive growth models, or leadership excellence, this year’s honorees exemplify the agility and foresight needed to shape the next chapter in African insurance.
