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May 2017 Kenyan insurance companies will no longer be required to renew their operating licenses every year. The supervisory authorities will henceforth provide permanent licenses for local insurers who fulfill regulatory requirements.
In order to discharge their activities, insurers will first have to pay annual registration fees of about 150 000 KES (1 491 USD). This amount used to be set at 250 000 KES (4 485 USD) for reinsurers. Brokers and other players on the market are not targeted by this measure.
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