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Economy

Westgate insurer faces Sh6.6 billion compensation bill

The Westgate Shopping Mall, which  was attacked by terrorists on Saturday. FILE
The Westgate Shopping Mall, which was attacked by terrorists on Saturday. FILE 

London-based insurer, the Lloyd’s market topped the list of big losers as Nairobi counted its losses in the wake of a deadly terrorist attack that claimed at least 67 lives and left dozens missing.

More than 50 businesses that operated in the shopping complex, including Nakumatt Supermarkets, Barclays Bank, restaurants, jewellery and clothes shops, with goods worth billions of shillings, are also facing huge losses whose extent is yet to be determined.

The more than 500 people who worked in the shopping mall have been left jobless and the announcement that three of the building’s floors had caved in during the three-day battle with the terrorists means it will take months for the businesses to get back into operation.

It has since emerged that Sony Holding Limited, a real estate company led by Alex Tachenberg, insured Westgate Shopping Mall through UK’s Lloyd’s market for about Sh6.6 billion.

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