UN Global Compact Network Kenya Advocates Improved Sustainability Practices in Kenya’s Insurance Sector

In the face of rising societal expectations, evolving regulatory demands, and intensifying global risks, the UN Global Compact Network Kenya (GCNK) has challenged Kenya’s insurance sector  to embed sustainability at the core of its operations.

The call was made during an Insurance Sector Dialogue on Responsible Business and Sustainability, convened on 12 June 2025 by the Country Network in Nairobi.

The forum brought together industry leaders from the insurance sector to explore how the field can better align with sustainability goals for impact.

While the sector has made commendable progress, speakers emphasized that much more needs to be done. A clear call to action emerged that the insurance industry must prioritize long-term, sustainable business models and leverage platforms like the United Nations Global Compact to access essential tools, resources, and networks that can fast-track responsible business practices.

Speaking on behalf of the CEO, Insurance Regulatory Authority, Mr. Kiptum Godfrey, Anne Chelagat, Director of Market Conduct, emphasized the need for regulatory frameworks to evolve in step with the sector’s sustainability ambitions. She highlighted the importance of developing innovative insurance instruments that support green growth and climate resilience.

Martin Ochien'g, Group MD and CEO of Sasini Plc and Chair of Global Compact Network Kenya Board, underlined the insurance industry’s unique potential to drive collective action on sustainability efforts. He urged insurers to integrate Environmental Social Governance(ESG) considerations into underwriting and investment strategies while promoting knowledge-sharing around emerging risks such as climate-related shocks and governance failures.

The Executive Director of Global Compact Network Kenya, Judy Njino, reminded participants that with just six years remaining to meet the Sustainable Development Goals (SDGs), the insurance industry has an immense opportunity to catalyze systemic change. She encouraged companies to leverage platforms like the United Nations Global Compact to accelerate their sustainability journeys and lead by example across their value chains.

Participants emphasized that embedding sustainability at its core is imperative for the insurance sector's future. While moving beyond traditional models is crucial, significant barriers remain, particularly internal capacity gaps and a short-term focus hindering momentum. The resounding call to action was made clear at the gathering: overcoming these challenges requires robust partnerships. Insurers, governments, and civil society must collaborate decisively to co-create innovative, scalable solutions. The response was that only through this collective action can the industry truly harness its potential to drive meaningful, sustainable impact.