Call for papers

Call for papers

Call for papers

The Insurance Institute of Kenya (IIK) has made a call for papers ahead of its annual conference on 27 October. The IIK is looking for professional submissions of an article for possible publication in the upcoming conference journal. The theme for this year’s conference is: ‘Growing the east Africa insurance industry in a turbulent environment’. The IIK said the article…

Kenya tops list in terms of financial inclusion

Kenya tops list in terms of financial inclusion

Kenya tops list in terms of financial inclusion

Kenya tops the list in financial inclusion, with a new report giving the country a rating of up to 89%. According to the 2017 Brookings Financial and Digital Inclusions Project Report, the country emerged top among 26 countries that provide easy access to financial services to underserved people, beating Brazil, South Africa and Nigeria, which scored 79%, 78% and 74%…

Political risk heightened in Kenya as Supreme Court becomes first African court to annul election result

Political risk heightened in Kenya as Supreme Court becomes first African court to annul election result

Political risk heightened in Kenya as Supreme Court becomes first African court to annul election result

Kenya’s Supreme Court has annulled the presidential election result of 8 August and ruled that a new election must take place within 60 days. Opposition leader Raila Odinga has described the Supreme Court’s annulment of last month’s presidential election result as a “very historic day for the people of Kenya and by extension the people of the continent of Africa”.…

Fitch comforted by lack of unrest after Kenya election

Fitch comforted by lack of unrest after Kenya election

Fitch comforted by lack of unrest after Kenya election

The risk of post-election unrest has been reduced by the Kenyan opposition’s decision to seek a legal resolution after it disputed this month’s general election result, according to Fitch Ratings. The agency said: “Pursuing legal action rather than focusing on popular protests has helped contain the social unrest sparked by the result, which saw violent clashes and some fatalities in…

Kenyans remained resilient through election

Kenyans remained resilient through election

Kenyans remained resilient through election

Kenyan consumers continued to spend during the 2017 elections in Kenya, despite fears that the economy might contract. Consumer Wallet, a platform launched by mSurvey and Safaricom in March 2017, showed that the overall spending from 5 to 11 August, only decreased by an average of 3%. In the days ahead of the 8 August vote, Kenyan consumer spend plummeted…

Britam increases income but profits fall

Britam increases income but profits fall

Britam increases income but profits fall

Kenyan insurer Britam Holdings has reported that its total comprehensive income for the first six months of the year has increased to KSh1.9bn, compared to KSh1.88bn for a similar period last year. The pre-tax profit was KSh1.3bn, which is reported to be a 78.89% drop from last year’s KSh1.78bn in the same period. Britam said insurance business, which accounts for…

SCOR opens representative office in Kenya

SCOR opens representative office in Kenya

SCOR opens representative office in Kenya

Scor Global P&C is opening a representative office in Nairobi after winning approval from the Insurance Regulatory Authority of Kenya (IRA) The new office will become operational on 1 September 2017 and will be headed by Christian Ramamonjiarisoa. It will support SCOR’s marketing activities in the east African markets. The reinsurer said: “The creation of this representative office in Kenya…

Alexander Forbes changes name in Kenya

Alexander Forbes changes name in Kenya

Alexander Forbes changes name in Kenya

Broker Alexander Forbes in Kenya has changed its name and brand in the new entity with effect from 14 August 2017, following a restructure of the company’s shareholding in the current business. According to the firm, the changes to the existing shareholding structure were driven by the need to comply with the amendment to the Retirement Benefits Act introduced in…

Kenyans nervous as five die following election results

Kenyans nervous as five die following election results

Kenyans nervous as five die following election results

Five people have died in Kenya following Tuesday’s election and the reported lead of sitting President Uhuru Kenyatta Opposition leader Raila Odinga is challenging the legitimacy of the results to date, claiming the system has been hacked but refusing to reveal his sources. On Wednesday morning, the Election Commission website showed Mr Kenyatta leading with 54.4% of the votes against…

Kenyatta takes lead as leaders appeal for calm

Kenyatta takes lead as leaders appeal for calm

Kenyatta takes lead as leaders appeal for calm

Sitting president Uhuru Kenyatta appears to have taken the lead after Tuesday’s election in Kenya. Risk managers across the country have been anxiously waiting for the election day, with fears of a return to the violence seen in the 2008 elections. Anecdotally, there have been stories of those who are able to choosing to leave the country or have a…

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