Peter Mbugua, owner of Quiver Lounge & Grill, and Ronald Karauri, CEO of SportPesa, co-own Definite Assurance Company Limited, an insurance firm targeting Kenya’s public service vehicle (PSV) sector. The company received its operating license from the Insurance Regulatory Authority (IRA) on December 11, 2024.
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However, the company is currently embroiled in a shareholder dispute. The conflict began after the IRA granted the firm an operating license, with disagreements arising over share valuations and ownership stakes.
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This dispute threatens the company’s potential to disrupt the PSV insurance market in Kenya.
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