Bupa Global, a leading international private medical insurance (IPMI) provider, has established its first African office in Nairobi, Kenya, following licensing approval from the Insurance Regulatory Authority (IRA).
Kenya, East Africa’s largest economy, is identified as a strategic growth market for Bupa Global’s IPMI operations. The country’s sustained GDP growth and Vision 2030 goal of achieving middle-income status by 2030 align with the projected growth of Kenya’s health insurance market, estimated to increase from $1.42 billion in 2022 to $2.77 billion.
The Nairobi office will employ a local team and non-executive directors, ensuring market responsiveness. Uditha Jayaratne has been appointed CEO and principal officer.
This expansion aligns with broader IPMI growth trends in sub-Saharan Africa, projected at a 14-15% compound annual growth rate by 2025.
Anthony Cabrelli, managing director of Bupa Global, stated, “Kenya is a key market and a gateway to African opportunities. We are building an ecosystem for accessible, world-class healthcare.”
The Kenyan government’s Vision 2030, emphasizing quality healthcare access, and the Social Health Insurance Act, mandating universal health coverage, create a favourable environment for Bupa Global.
The Nairobi office will offer international health insurance plans for SMEs, individuals, expatriates, and corporates, leveraging digital tools and providing access to a global network of medical providers. Existing Kenyan customers will experience a seamless service transition.
Uditha Jayaratne emphasized Bupa Global’s commitment to the region through local presence and partnerships.
Bupa Global’s £55M, five-year digital enhancement investment will support expanded digital healthcare access in Africa.
The Bupa Foundation is also co-sponsoring community initiatives in the Masai Mara, including clean water boreholes and medical camps.