Kenyan insurance companies are sustaining heavy losses in the motor class of business. The insurance of vehicles for private use is reporting its worst results with a loss ratio of 83.5%. In an effort to cover their losses, companies have included additional covers as well as new guarantees in their motor policies. These new measures are likely to enable insurers to gain market shares and improve their loss ratio.
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[3] https://www.atlas-mag.net/en/issue/bank-and-insurance-the-difficult-alliance