INSURANCE industry claims for general business class increased by 17.5 per cent in 2012 to Sh29.43 billion, the latest report by Insurance Regulatory Authority shows. However, claims arising from life insurance business dropped slightly by 4.7 per cent to Sh17.8 billion from Sh16.9 billion recorded in 2011. Gross written premiums rose by 11.4 per cent to Sh108.6 billion compared to Sh97.5 billion for the previous year. Reinsurance companies on the other hand reported a 20.6 per cent increase in gross premiums which stood at Sh10.4 billion from the Sh8.63 written previously...
↧