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A report by U.K.-based advisory services firm Timetric Ltd. has said that growth in Kenya's construction sector will boost the nation's insurance industry, The Star Kenya reports.
The insurance industry will benefit from increased demand for property insurance, said the report. "The category is expected to grow its value to 48 billion Kenyan shillings ($617 million) in 2019, mainly driven by government investments to develop the Lamu Port and South Sudan-Ethiopia transport corridor, the Mombasa–Nairobi Standard Gauge Rail network and the construction of a 2,000-kilometer road," said Timetric.