Directline Assurance closing, terminates contracts

Directline Assurance has announced that it will be closing and ceasing all operations.

In a statement on Monday, SK Macharia, Chairperson of Royal Credit Limited, revealed that the insurance company is terminating all employee contracts.

Macharia also announced the dissolution of the company’s Board of Directors.

"The board of directors of Directline has been dissolved, and all assets have been taken over by Royal Credit Ltd. All employees have been dismissed, and Directline will no longer provide insurance services," said Macharia.

Directline entered the Kenyan market in November 2005 as a motor vehicle insurance company.

The company specialized in providing insurance coverage for Public Service Vehicles (PSV).