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Insurers report first medical underwriting profit in three years
The performance is a shift from a similar period in 2023 where 13 insurers posted an underwriting loss from medical insurance as eight posted a profit.
General insurers have posted underwriting profit from medical insurance covers for the first time in three years, offering a boost to a segment that has been struggling to stem out fraud from this business.
Latest Insurance Regulatory Authority (IRA) data shows insurers posted a Sh397.23 million underwriting profit in the half-year ended June 2024, marking an improvement from a loss of Sh399.7 million they made in a similar period in 2023.
