Governance, Risk and Compliance – The Kenyan Insurance Industry

Date: 2016-01

“• The Kenyan insurance industry is regulated by the Insurance Regulatory Authority (IRA).

• Motor third-party liability insurance and workmen’s compensation are the key classes of compulsory insurance in Kenya.

• Composite insurance is permitted in Kenya.

• Up to 66.7% FDI is permitted in the Kenyan insurance industry. However, 100% FDI is permitted for EAC partner states.

• Placement of non-admitted insurance contracts is not permitted in Kenya with some exceptions.”

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