Insurers paid out Sh175.2 billion in claims during the nine months to September this year, marking a 24.6 percent jump compared to a similar period last year in a surge driven by an increase in filed claims.
Data from the Insurance Regulatory Authority (IRA) shows that the payouts rose from Sh140.6 billion in a similar period last year, adding Sh34.6 billion to the compensation bill and signaling deepening pressure on insurers’ bottom-line.
