Stima DT-Sacco has elevated its insurance arm from an agency model to a fully licensed brokerage, a shift designed to secure sharper deals and broader cover for its members. The unit, previously known as Mpawa Insurance Agency, will now operate as Mpawa Insurance Brokerage.
Under the new structure, Mpawa will negotiate life and health policies, general insurance, SME solutions, agricultural covers, digital micro-insurance, credit life, motor, domestic and specialised group products on behalf of members. The distinction is not cosmetic. A broker represents the client and scouts the entire market for the most suitable cover at competitive premiums, while an agent typically sells products on behalf of a specific insurer.
Speaking at the launch, Stima Sacco Chief Executive Gamaliel Hassan said the brokerage model is anchored in independence, allowing Mpawa to compare and negotiate across the insurance landscape solely in members’ interests. He noted that more than 90 percent of the brokerage’s business is drawn from sacco members.
Mpawa is also moving towards a technology-driven framework, targeting digital onboarding, integrated binder systems, automated reconciliations, real-time underwriting and claims dashboards, and multi-channel customer journey mapping by the close of 2026.
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Founded in 1974 to serve employees of the power utility now known as Kenya Power, Stima Sacco has since expanded to an open membership model and ranks among Kenya’s largest deposit-taking saccos. Its deposits rose eight percent to Sh46.69 billion in 2024 from Sh43.13 billion the previous year, while its loan portfolio grew 11 percent to Sh50.24 billion from Sh45.15 billion.
Mpawa, established in 2018 as a special-purpose vehicle to meet members’ insurance needs, had grown its gross written premium portfolio to more than Sh600 million by the end of 2025, according to national chairman Joseph Siror.
