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Link to original content: http://www.atlas-mag.net/en/print/41413
Kenyan bancassurance market in 2023
Published on Atlas Magazine (https://www.atlas-mag.net)

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Kenyan bancassurance market in 2023

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Magazine Issue: 
Reinsurance in 2025, a stable, balanced market [3]
Magazine date: 
Nov 2024

Kenyan insurance marketA report published by the Association of Kenyan Insurers (AKI) indicates that bancassurance activity in the country closed the 2023 financial year with a turnover of 35 billion KES (221.5 million USD), up 13.3% over one year.

Non-life premiums stood at 18.5 billion KES (117.1 million USD), against 16.5 billion KES (104.4 million USD) for the life segment.

Incurred losses increased by 11.8%, from 12.7 billion KES (102.2 million USD) in 2022 to 14.2 billion KES (89.9 million USD) a year later.

In 2023, bancassurance accounted for 9.69% of premiums written by the entire Kenyan insurance market [4], which amounted to 361.36 billion KES (2.3 billion USD).

Fri, 22/11/2024 - 15:36

Source URL: https://www.atlas-mag.net/en/article/kenyan-bancassurance-market-in-2023

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[4] https://www.atlas-mag.net/en/article/kenya-insurance-market