Seven insurance companies have failed the regulatory test

According to a statement from Sammy Makove, general manager of the Insurance Regulatory Authority (IRA), 7 of the 43 companies that make up the Kenyan insurance market have failed the regulatory test.

The companies involved, whose names were not disclosed, have, nontheless, received extensions of their 2013 license under strict conditions.

Their situation will soon be re-examined by the IRA.