Structure of the insurance industry in Kenya - 2018

Structure of insurance industry in Kenya: evolution of premiums per class of business (2017-2018)

in thousands USD
 201420152016201720182018 shares
Motor
437 251428 132442 191437 276454 89521.44%
Engineering
39 84437 93234 52340 98236 4351.72%
Marine (1)
44 10143 15440 50351 65954 3332.56%
Third party liability
21 24021 85025 05027 55626 9341.27%
Property damage (2)
153 397146 763152 350161 231160 7227.58%
Personal accident
40 47938 76839 78334 38831 1621.47%
Health
284 288293 689382 844374 939396 73418.70%
Miscellaneous (3)
93 15088 94192 55992 31397 3264.59%
Total non life
1 113 7501 099 2291 209 8031 220 3441 258 54159.33%
Life (4)
635 409617 545730 779809 861862 72040.67%
Grand total1 749 1591 716 7741 940 5822 030 2052 121 261100%

Turnover 2018 per class of business

kenya insurance industry

(1) Including aviation and maritime transport
(2) Inclding theft and fire
(3) Including workmen’s compensation
(4) Including group health, pension and sinking fund insurance


Read also: Ranking of insurance companies in kenya - 2018


Structure of insurance industry in Kenya: Net loss ratio per class of business in 2018

Figures in thousands
 Net incurred lossesNet earned premiumsNet loss ratio
 in KESin USDin KESin USD
Motor
27 919 745275 56843 414 086428 49764.31%
Engineering
411 2444 059932 9759 20844.08%
Marine (1)
697 7346 8872 038 54120 12034.23%
Third party liability
597 5485 8981 289 38012 72646.34%
Property damage (2)
2 923 50328 8556 580 06564 94544.43%
Personal accident
747 3527 3762 294 61022 64832.57%
Health
20 515 402202 48727 133 652267 80975.61%
Miscellaneous (3)
3 115 46830 7507 400 36873 04242.10%
Total non-life56 927 996561 87991 083 677898 99662.50%

Structure of insurance industry in Kenya: Net management expenses ratio per class of business in 2018

Figures in thousands
 Management expensesNet written premiumsNet management expenses ratio
 in KESin USDin KESin USD
Motor
18 946 062186 99843 701 343431 33243.35%
Engineering
496 1024 897886 6308 75155.95%
Marine (1)
1 050 02410 3641 963 74219 38253.47%
Third party liability
560 0385 5281 254 71512 38444.63%
Property damage (2)
3 347 85033 0436 607 01365 21150.67%
Personal accident
1 311 47512 9442 178 51621 50260.20%
Health
7 626 48075 27327 878 786275 16427.36%
Miscellaneous (3)
3 406 44033 6227 489 70573 92345.48%
Total non life36 744 471362 66891 960 450907 65039.96%

(1) including aviation
(2) including theft and fire
(3) including workmen’s compensation

Structure of insurance industry in Kenya: Combined ratio per class of business in 2018

 Net loss ratioManagement expenses ratioCombined ratio
Motor
64.31%43.35%107.66%
Engineering
44.08%55.95%100.03%
Marine (1)
34.23%53.47%87.70%
Third party liability
46.34%44.63%90.97%
Property damage (2)
44.43%50.67%95.10%
Personal accident
32.57%60.20%92.77%
Health
75.61%27.36%102.97%
Miscellaneous (3)
42.10%45.48%87.58%
Total non-life62.50%39.96%102.46%

(1) including aviation
(2) including theft and fire
(3) including workmen’s compensation
Source: Insurance Regulatory Authority of Kenya, IRA

Kenya
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