Browsing: Britam

• Britam Holdings Board of Directors has appointed Lofti Baccouche of Capgemini Invent in the UK as an Independent Non- executive Director. 
• The appointment is subject to the Insurance Regulatory Authority’s approval amidst a low insurance penetration in the country. 
• Lotfi is a financial services executive with solid experience in both developed and emerging markets with over 35 years of experience in finance, insurance and risk management.  

Britam Holdings Board of Directors has appointed United Kingdom’s Lofti Baccouche the Vice President – Insurance practice lead in Capgemini Invent in the UK as an Independent Non- executive Director. 

The appointment is subject to the Insurance Regulatory Authority’s approval amidst a low insurance penetration in the country. 

Lotfi is a financial services executive with solid experience in both developed and emerging markets with over 35 years of experience in finance, insurance and risk management. He has wide experience in multiple countries across Africa, …

The insurance industry in Kenya has recorded an increase in the premiums underwritten between April and June 2019.

The premiums underwritten during this period amounted to Ksh117.28 billion (US$1.13 billion), a 4.4 per cent increase from Ksh112.39 billion (US$1.08 billion) recorded over the same period in 2018.

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The Insurance Regulatory Authority (IRA) has attributed this development largely to a 2.9 per cent growth recorded by the general business segment and 6.9 per cent by the long term insurance business segment.

“The increase in general business was mainly contributed by medical and motor private insurance classes of business which accounted for 66.8 per cent of the gross premium income,” IRA notes in its latest (Q2) industry report.

READ ALSO:Why Kenya’s insurance sector is “rotten”

During the same period, the claims incurred amounted to Ksh28.84 billion. This was a decrease of 1.3 …