Claims, 23% increase in 2013

The claims incurred for the entire Kenyan insurance market total amounting to 648.3 million USD in 2013, an increase of 22.9% compared to 2012.

According to the report of the Insurance Regulatory Authority (IRA) losses of non-life sector represent 58.7% of this total, an amount of 380.6 million USD of which 362.3 have already been paid.

The classification by industry of the loss is dominated by health insurance (103.7 million USD paid claims), followed by commercial auto insurance (98 million USD) and private auto insurance (91.6 million USD). Then come the workmen's compensation (19.4 million USD) and theft (13.7 million USD).

Note that, compared to 2012, the assets managed by the entire insurance industry increased by 18.4% to 4.1 billion USD in 2013.