East Africa, insurers’ profits growth poised to slow down

The growth of East African insurers’ profits slowed down in 2015. The weakness of local currencies against the dollar and the fragility of financial markets are also behind this downturn.

slow down growth According to the Kenyan company “Cytonn Investments Management”, after-tax profits generated by the insurance companies concerned sustained an average loss of 48% in 2015. These are the worst results reported in five years.

According to the Association of Kenyan insurers, the business has posted annual average after-tax profits of 13% since 2010.

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