Government directive drives marine insurers' premiums

Posted On: Aug. 31, 2018 5:48 AM CST

A report by the Association of Kenya Insurers found that marine insurers' premiums grew more than 41% year over year in 2017, driven by the government's directive to locally insure all marine cargo, KBC.co.ke reported. Total gross written premiums grew nearly 6.5% to 210 billion Kenyan shillings ($2 billion). Nonlife insurers' premiums totaled KES 126 billion accounting for 60% of total premiums.