AM Best issues negative rating to Kenya Re
Poor technical performance of Kenya Reinsurance Corporation (Kenya Re) in recent years, demonstrated by non-life underwriting results that have been weaker for two years running, as earned it a negative [...]
Rise in Claims Slows Down Mayfair Insurance Earnings
Mayfair Insurance realized a modest rise in net earnings to KSh Sh359.5 Million down from KSh361.8 Million the previous year. This is as net claims and policyholders' benefits increased from [...]IRA Offers Relief to Policy Holders
The Insurance Regulatory Authority (IRA) has offered a three-month break in the payment of premiums by policyholders who might be facing financial strains due to COVID-19. According to IRA CEO, [...]
AAR Insurance Reports Ksh 517M FY Profit
AAR Insurance reported a net profit of Ksh517 million for FY2019 compared to Ksh253 loss recorded in 2018. The financial report also reveals that profit before tax rose to Ksh [...]
Proposed tax to hit brokers in Stocks, Insurance, Tea Coffee Auctions
The Tax (Amendment) Bill 2020 proposal to introduce Value Added Tax (VAT) on brokerage services, continues to draw sharp reactions from dealers at the Nairobi Securities Exchange(NSE) as well as [...]Britam Reports KSh 3.3 billion profit from loss territory
British American Insurance Company (BRITAM), a leading insurance underwriter, made a profit of KSh 3.5 Billion from a loss of KSh 2.2 Billion at the end of the financial year [...]Prudential Unveils Extra Benefits To Shelter Clients Against COVID-19
Clients to receive one-off cash benefit of KSh 10,000 if they test positive for coronavirus KSh 2,500 daily if hospitalised or quarantined in a government facility KSh 5,000 per day [...]Equity Group to Set Up a Holding Company for its Insurance Business
Equity Group Holdings has announced plans to undertake long term insurance business in Kenya. Furthermore, the company is working on setting up a non-operating holding company to hold its insurance [...]Fresh Bid to Shut AMACO Insurance
Barely weeks after a petition filed at the High Court to shut down AMACO Insurance was withdrawn, a fresh one has been lodged. In a notice published in the Kenya [...]Kenya Lists Licensed Insurance Services Providers
The Commissioner of Insurance has published a list of licensed insurance firms that will engage in the business in 2020. In a notice signed by Godfrey K. Kiptum, Commissioner of [...]Octagon Africa Signs Strategic Partnership with Alexander Forbes
LISTEN TO ARTICLE A new strategic partnership has been entered into under which Octagon Africa will serve Alexander Forbes multinational clients with a presence in Kenya.This strategic partnership comes after [...]Insurers Blacklist Nairobi Women's Hospital Over Costs Inflation
A consortium of insurers has suspended credit services at Nairobi Women's Hospital (NWH). The Association of Kenya Insurers CEO, Tom Gichuhi, says they agreed during a meeting on Monday to [...]
