Browsing: Kenya’s Insurance Industry

www.theexchange.africa
  • Kenya’s Insurance industry premiums increased by 11.4 percent to hit $2.379 billion in the third quarter of (Q3) 2022 from $2.13 billion in Q3 2021
  • The growth is attributed to the continued economic recovery from the negative effect of COVID-19 in 2020 and 2021.
  • Long term insurance business premiums stood at $1.0349 billion accounting for 43.5 percent of the total industry premium while general business premiums amounted to $1.34 billion (56.5 percent).

Kenya’s Insurance industry premiums increased by 11.4 percent to hit Ksh 293 billion ($2.379b) in the third quarter of (Q3) 2022 from Ksh 263 billion ($2.13b) in Q3 2021, latest data from the Insurance Regulatory Authority (IRA)) indicates. 

The insurance industry report for the period July – September 2022 attributes the growth to the continued economic recovery from the negative effect of COVID-19 in 2020 and 2021.

Long term insurance business premiums stood at $1.0349 billion  accounting