The Policyholders Compensation Fund (PCF), the statutory manager of the collapsed Resolution Insurance Company Limited, has been ordered to refund the Sh36 million it illegally withdrew from the insurer’s accounts and paid to a law firm.
High Court Judge Alfred Mabeya concurred with the Insurance Regulatory Authority (IRA) that PCF acted illegally when it withdrew the cash from Resolution Health’s accounts and paid Millimo Muthomi & Co Advocates last year.
