Kenya: 2015, a difficult year for non life insurers

The insurance market reported 14.1 billion KES (140.2 million USD) in profits in 2015, an 18% decrease in comparison with the year before. The non life insurers who sustained underwriting losses of 226.3 million KES (2.2 million USD) greatly contributed to that slowdown.

Out of the 36 non life companies, 15 posted loss-making underwriting results. In 2014, the non life class of business had reported operating profits of 1.6 billion KES (15.8 million USD). It is the personal risk of the motor class of business which plummeted non life results with losses of 3.1 billion KES (30.8 million USD). The other loss-making classes are health, fire, ordinary risks and aviation.

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