Browsing: IRA Quarter 4 of 2022 claims report

From Left to Right: Cabinet Secretary - National Treasury and Economic Planning - Prof. Njuguna Ndung’u and Commissioner of Insurance and Chief Executive Officer (IRA) Godfrey Kiptum share a light moment during a courtesy call to the CS at his offices at the National Treasury buildings on 6th February 2023.

Insurers pay claims worth $400Mn in Q4, 2022

East Africa
  • Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn. 
  • Latest statistics from the Insurance Regulatory Authority (IRA) indicate that the number of claims reported to the insurers were 2,040,600, a 12.6 percent increase compared to 1,811,141 claims reported in Q3,2022. 
  • General liability claims paid went up by 16.8 percent to 14,085 claims worth $42Mn from 12,055 claims paid worth $40Mn billion in the previous quarter. Non – Liability claims paid hit 1,714,723 claims worth $170Mn  representing a  1.8 percent from 1,684,698 claims worth $160.31Mn reported in Q3 2022. 

Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3 percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn. 

According to the Quarter 4 of 2022 claims …