Directline

2024 - 6 - 10

Shocking Turn of Events: SK Macharia Closes Directline Insurance and Fires Employees

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SK Macharia's sudden decision to shut down Directline Assurance leaves Kenyans in disbelief. Read more to discover the surprising details!

The Kenyan business scene was rocked by startling news as media mogul S.K. Macharia made the unexpected announcement to shut down Directline Assurance, a prominent insurance provider. Directline, which had entered the market in November 2005, had quickly risen to the top, holding a leading position in motor vehicle insurance. However, the tide turned abruptly when Macharia decided to close the company, resulting in mass layoffs of all employees. The closure came as a shock to many, given Directline's significant market share and established presence in Kenya. Kenyans were left stunned by the sudden turn of events, expressing a mix of emotions ranging from surprise to concern.

Mass Job Layoffs Loom as Directline Insurance Shuts Down ... (Kenyans.co.ke)

Directline joined the Kenyan market in November 2005 and soared to become the leading motor vehicle insurance company.

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Image courtesy of "Pulse Live Kenya"

Billionaire S.K. Macharia shuts down company & fires all employees ... (Pulse Live Kenya)

Sh7 billion blunder forces billionaire S. K. Macharia to close one of his companies that enjoyed 60% market share | Pulselive Kenya.

Kenyans React After SK Macharia Stops Directline Operations, Fires ... (Tuko.co.ke)

Kenyans expressed mixed reactions after media mogul SK Macharia abruptly halted operations of Directline Assurance, an insurance provider, and dismissed its ...

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Image courtesy of "Business Daily"

Sh400m secret transfer in Directline war with IRA (Business Daily)

On a chilly afternoon on May 15, media mogul Samuel Kamau Macharia wrote to Diamond Trust Bank (DTB) to wire Sh400 million from Directline Assurance Company ...

IRA revokes Closure of Direct Line Assurance Company – Kenya ... (Kenya News Agency)

The Insurance Regulatory Authority (IRA) has revoked the closure of the Directline Assurance Company Limited in Nairobi by the Chairman of the Dr. Samuel K.

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Image courtesy of "Kenyan Wallstreet"

IRA Dismisses Reports on Closure of Directline Assurance (Kenyan Wallstreet)

The Insurance Regulatory Authority (IRA) has dismissed reports on the closure of Directline Assurance company, terming them illegal.

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Image courtesy of "The Star, Kenya"

Court halts withdrawal of funds from Directline Assurance (The Star, Kenya)

Court heard that SK Macharia and one Bashir Mburu directed Diamond Trust Bank to effect transfer of Sh400 million to Toy and Suna Holdings Limited account. The ...

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Image courtesy of "Capital FM Kenya"

IRA stops closure of Directline Assurance (Capital FM Kenya)

NAIROBI, Kenya, June 11 - The Insurance Regulatory Authority (IRA) has suspended the closure of Directline Assurance Company Limited, a few hours after ...

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Image courtesy of "Bizna Kenya"

How SK Macharia's attempt to transfer Sh. 400 million from ... (Bizna Kenya)

When Royal Media Services owner SK Macharia on Monday announced the closure of DirectLine Assurance, very few people could tell what had prompted the ...

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