Published on Atlas Magazine (https://www.atlas-mag.net)

Home > Printer-friendly

The association of reinsurers sanctioned by the competition authority

Tweet [1] [2]
Magazine Issue: 
Digital risks, a new challenge for insurers [3]
Magazine date: 
Mar 2015

The Association of Kenya Reinsurers (AKR) has been sanctioned by the Competition Authority of Kenya (CAK) for non-compliance of rates.
Sentenced to pay a fine of 721 715 KES (7 500 USD), the AKR is accused of having introduced too favorable premium rates during the 2013/2014 renewal of the National Intelligence Service (NIS) life group's policies.

Note that the AKR will also provide the CAK with a written notice, by which it undertakes not to apply practices contrary to those dictated by the authority.

Wed, 10/02/2016 - 11:38

Source URL: https://www.atlas-mag.net/en/article/the-association-of-reinsurers-sanctioned-by-the-competition-authority

Links:
[1] https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fthe-association-of-reinsurers-sanctioned-by-the-competition-authority&text=The+association+of+reinsurers+sanctioned+by+the+competition+authority
[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fthe-association-of-reinsurers-sanctioned-by-the-competition-authority&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/digital-risks-a-new-challenge-for-insurers