Local insurers optimistic to hit 6% penetration by 2020
Companies Mentioned : Ministry of Finance & National Treasury , Kenya Maritime Authority , Kenya Extractives Programme (K-EXPRO) , Jubilee Holdings Limited , Insurance Regulatory Authority , Association of Insurance Brokers of Kenya (AIBK)
Summary Kenya’s local insurers are upbeat about increasing their penetration to 6 per cent from the current 2.75 per cent in the next three years. This is in an effort to match the cur- rent world average of 6.28 per cent. On Thursday, the Association of Insurance Brokers of Kenya (AIBK) chairperson, Nelson Omolo, said they are looking forward to deepening their penetration through collaboration with other stakeholders.