The report provides in-depth industry analysis, information and insights into the insurance
industry in Kenya, including:
• The Kenyan insurance industry’s growth prospects by insurance segment and category
• The competitive landscape in the Kenyan insurance industry
• The current trends and drivers in the Kenyan insurance industry
• Challenges facing the Kenyan insurance industry
• The detailed regulatory framework of the Kenyan insurance industry
According to the World Bank, Kenya is the ninth-largest economy in Africa. The country’s
real GDP increased from KES1.7 trillion (US$22.2 billion) in 2009 to KES2.3 trillion (US$26.9
billion) in 2013, at a compound annual growth rate (CAGR) of 4.9%. Economic growth
slowed in 2008-2009 due to the global financial crisis, political instability and a decline in
exports. Currency depreciation and elevated inflation rates were other factors that
contributed to the slowdown. The economy began a period of recovery in 2010, as a result of
the strong performance of the agriculture, manufacturing and real estate sectors.
The Kenyan insurance industry grew at a CAGR of 20.3% during the review period.
This growth was achieved due to various factors, such as the expansion of the distribution
network and premium growth. The personal accident and health insurance segment
registered a CAGR of 28.8% during the review period (2009-2013). Health insurance was
one of the fastest growing categories within the segment, and accounted for 86.3% of the
total personal accident and health segment’s share in 2013. Approval of the two newly
licensed medical insurance underwriters in 2012 supported the growth of the health
insurance category, at a CAGR of 41.2% during 2010-2013.
This report provides a comprehensive analysis of the insurance industry in Kenya:
• It provides historical values for the Kenyan insurance industry for the report’s 2009-2013
review period, and projected figures for the 2013-2018 forecast period.
• It offers a detailed analysis of the key segments and categories in the Kenyan insurance
industry, along with forecasts until 2018.
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss
ratio, commissions and expenses, combined ratio, total assets, total investment income and
• It profiles the top insurance companies in Kenya, and outlines the key regulations affecting
Key Highlights :
• The Kenyan insurance industry is small in global terms, however it is competitive
• The Kenyan insurance industry grew at a CAGR of 20.3% during the review period
• Health insurance was one of the fastest growing categories within personal accident and
• The loss ratio for Kenyan life and non-life insurers reduced during the review period. For life
insurers, this decreased from 50.5% in 2009 to 46.7% in 2013, while for non-life insurers it
decreased from 60.1% to 56.4%
• The insurance industry of Kenya is supervised and regulated by the Insurance Regulatory
• The industry is served by 48 insurance companies, of which 23 are in life insurers and 36
are in non-life insurers (including personal accident and health insurance)
Table of Contents:
1 Executive Summary
3 Kenyan Insurance Industry Overview
4 Industry Segmentation
5 Governance, Risk and Compliance
6 Competitive Landscape
7 Macroeconomic Indicators
Reason To Buy :
• Make strategic business decisions using in-depth historic and forecast industry data related
to the Kenyan insurance industry and each segment within it.
• Understand the demand-side dynamics, key trends and growth opportunities in the Kenyan
• Assess the competitive dynamics in the Kenyan insurance industry.
• Identify the growth opportunities and market dynamics in key segments.
• Gain insights into key regulations governing the Kenyan insurance industry, and their
impact on companies and the industry's future.
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