Samaki Bima was designed to protect both on-shore and off-shore fish farms from a range of perils, including loss or theft of fish stock in cages and ponds.
by Blue Africa News
The recent sight of dead fish floating from cages in Lake Victoria, was heartbreaking for the Kenyan fish farmers who had invested heavily in cage aquaculture in the lake near Kisumu, with the deaths linked to “an acute shortage of dissolved oxygen in the water,” possibly caused by human-induced pollution.
The incident is not isolated, having been witnessed in 2022 and 2023, with cage fish farmers in Kisumu losing close to Sh1 billion (approximately US$77.4 million) between 2022 and 2025, in part due to lack of insurance cover.
However, there is hope for investors and fish farmers who want to reduce their risk in the future. GA Insurance Limited Kenya, has developed a specialised insurance product to protect both onshore (pond) and offshore (cage) fish farmers from a range of perils, including loss or theft of fish stock in cages and ponds.
With its roots in the General Accident United Kingdom (UK), GA Insurance has been operating in East Africa for over 70 years. It was incorporated as a Kenyan insurance company in 1979.
Blue Africa News shared a set of questions with the company’s management on the Samaki Bima (fish insurance) initiative. Madhav Kumar, the firm’s Chief Executive Officer (CEO) responded as follows:
B: What is Samaki Bima?
M: GA Insurance Limited consistently undertakes market research to identify gaps and develop innovative solutions that meet evolving client needs. Leveraging technology and strategic partnerships, the company remains committed to delivering impactful products across various sectors.
In late 2024, GA Insurance conducted an in-depth study of the agriculture industry, with a particular focus on the aquaculture sub-sector. This research revealed significant risks and unmet needs within fish farming operations, leading to the development of a specialized insurance product—Samaki Bima.
Samaki Bima is designed to protect both on-shore and off-shore fish farms from a range of perils, including loss or theft of fish stock in cages and ponds, as well as damage or loss of insured cage structures and nets. By mitigating these risks, the product aims to: enhance investor confidence in aquaculture ventures, facilitate access to financing from potential investors and institutions, and strengthen food security by supporting sustainable fish farming practices.
Samaki Bima reflects GA Insurance’s commitment to supporting agricultural innovation and resilience, ensuring that aquaculture businesses can thrive in a dynamic and often unpredictable environment.
B: When was the rollout and how many farmers have been onboarded so far?
M: Samaki Bima received regulatory approval from the Insurance Regulatory Authority (IRA) in April 2025 and was officially launched by GA Insurance Limited on August 26, 2025. Since its launch, client uptake has begun, with a strong pipeline of prospective customers preparing to enroll. While the product is designed to provide coverage for fish cages and ponds across the entire country, the initial rollout is strategically focused on the Lake Victoria Basin region—one of Kenya’s most active aquaculture hubs.
B: What specific risks does the insurance cover?
M: Samaki Bima covers a range of areas including fish stock mortality, which caters for death due to accidents, pollution, natural perils (e.g. upwelling), disease, epidemics, or disposal advised by an aquaculture veterinary surgeon with insurer consent.
It also covers fish stock theft which focuses on physical loss of fish stock due to theft by third parties (excluding insured, employees, or family).
Additionally, the insurance covers cage structure in the event of loss or damage to cage structures and nets caused by fire, theft, explosion, natural perils, or accidental damage.
B. Are both pond-based and cage fish farms covered under your policy?
M: Yes. The policy is designed to insure both fish in cages (offshore) and in ponds (onshore).
B. What is the procedure for lodging a claim if I experience losses?
M: In the event of a loss, the insured must notify GA Insurance within 48 hours, either directly or through their appointed intermediary. Once reported, GA Insurance will:
a. Appoint a loss assessor/adjuster to investigate and prepare a detailed report outlining the cause of the loss, the extent of the damage and whether the farmer has adhered to best aquaculture practices, including maintaining a proper daily feeding register.
b. A GA Insurance claims officer will evaluate the report to determine the validity and eligibility of the claim.
c. Verified and approved claims will be settled within 30 days of confirmation.
B: What size of fish do you insure?
M: Samaki Bima is designed to provide coverage for fingerlings introduced into cages or ponds between the ages of two and four months, continuing through to their maturity. The product specifically excludes coverage for hatcheries.
By offering protection against key risks in aquaculture, Samaki Bima aims to de-risk fish farming operations, thereby enhancing investor confidence, attracting financial support from institutions, and contributing to national food security through the promotion of sustainable aquaculture practices.
B: How does one join the cover? What are the premium rates?
M: You can get in touch with your broker/agent/bank or send email directly to GA via samakibima@gakenya.com for a quotation.
B: Your parting shot?
M: If you are seeking to scale in the fish farming business, please consider signing up for GA’s Samaki Bima that is affordable and compressive enough to give you peace of mind and a backup plan in case the unexpected happens.
Oliver Ochieng, Blue Africa News