AKI faults insurers over foreign deals

AKI chief executive Tom Gichuhi. FILE PHOTO | NMG

What you need to know:

  • Many insurers are going against regulations and selling out risks that could easily be covered in local market.

Crafty local insurers are bypassing their local counterparts and ceding out premiums to foreign underwriters for a higher commission, reducing overall earnings for fellow Kenyan insurers.

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