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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Kenyan non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Kenya's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Kenya non-life (P&C) market as well as trends by line of business. Axco analysts also report on Kenya's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Kenyan insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Kenya, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Kenya, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Kenya with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The Kenyan non-life market reported previously its worst underwriting performance in more than two decades in 2019, with losses increasing 22% over the previous year to KES 3.17bn. Losses stemmed mostly from further deterioration in the commercial and private motor classes. For the year to September 2020, private motor insurance business registered a reduction in losses over the same period in 2019.
Kenya's macroeconomic fundamentals are supportive of an attractive insurance ....
This is a brief extract of information; more updated information may be available in the latest published report.
