Kenya Insurance Market
The Kenya Insurance Act (1984) and as amended thereafter governs the Kenya Insurance Market. And, the Kenya Insurance Regulatory Authority administers this Act.
Under this Act, all assets, liabilities and lives within Kenya must be insured with an insurance company registered in Kenya under the Insurance Regulatory Authority.
It is also a requirement under the Insurance Act that the Insurance Regulatory Authority approve all reinsurances abroad.
Additionally, all insurance companies must deposit with the Insurance Regulatory Authority their schedule of premium rates for all classes of business. Also, the Act sets out the terms of payment of premiums.
The Insurance Act lays down the terms and standards required by law for the efficient operation of the insurance industry.
We comply with all the requirements under the law, to the letter.
Here follows some topics that cover the insurance market in Kenya.
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