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The Insurance Industry in Kenya, Key Trends and Opportunities to 2017

Kenya insurance market: Over 18% growth in written premium value between 2008-2012

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2014-02-11 06:05:01 - The Insurance Industry in Kenya, Key Trends and Opportunities to 2017 - a new market research report on

The Kenya insurance market grew in written premium value at a CAGR of 18.6% during the review period. The growth was mainly contributed to by the non-life insurance segment, which accounted for 50.9% of total Kenyan insurance written premiums in 2012. Steady growth of Kenyan economy and ongoing reforms are expected to support the growth.

Kenya´s information technology and mobile payment systems have also undergone a recent transformation and the country now has M-Pesa (launched in 2008), one of the most developed mobile payment systems. Insurance companies have used this technology, introducing a platform called M-BIMA by CIC Insurance.

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