This archive report was first published on 12 December 2019.
On December 12, 2019, at 22:00, it was reported that Kenyan general insurance companies experienced a significant increase in operating profits.
According to data from the Insurance Regulatory Authority (IRA), these companies made a combined Sh1.7 billion operating profit in the nine months ended September, a 29.5% jump from the Sh1.3 billion recorded in the same period the previous year.
The companies, which account for about 60% of the entire insurance sector, remained in losses in their core underwriting business but higher investment income helped push them to profitability.
GA Insurance Company made the biggest operating profit of Sh900.4 million in the period, followed by AAR Insurance Kenya (Sh728.5 million) and Heritage Insurance Company (Sh554.1 million).
Resolution Insurance Company made the largest operating loss of Sh338.5 million and it was followed by Pacis Insurance Company (Sh273.9 million) and Kenya Orient Insurance (Sh217.7 million).
