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General insurers’ profit rises four times
Mwambu Mabonga at the IRA's Upper Hill office on February 16, 2023. President Ruto has revoked his appointment as the chairman of the Insurance Regulatory Authority (IRA). PHOTO | DIANA NGILA | NMG
General insurers’ net profit for the first three months of the year rose four times to Sh1.6 billion as increases in investment income helped to offset the poor performance from the underwriting business.
The latest data from the Insurance Regulatory Authority (IRA) shows the net profit rose from Sh399.3 million posted in a similar period in 2022, marking one of the best first-quarter performances in years.
