Kenyan insurers' results affected by the pandemic

The Kenyan insurance market recorded a turnover increase of 3% in H1 2020. Technical results indicate a loss of approximately 1.3 billion KES (12.09 million USD). The net profit realized by local insurers is down by 57%.

According to Fitch Ratings, this decline is due to the volatility of the investment markets which leads to a significant downturn in the investment income.