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Mar 2018 Kenya has published the new regulation governing the activity of bancassurance in the country. Banks that provide this kind of service had previously been subjected to the law governing insurance brokers.
The new provision, poised to provide more clarity and flexibility to this business, will, according to Insurance Regulatory Authorities, (IRA), make it possible to increase the insurance penetration rate which was estimated at 2.73% in 2016.
More news:
- The insurance industry in Kenya [4]