Customers of troubled Directline Assurance Company face exposure of at least Sh4.86 billion after the firm's key owner Samuel Kamau (SK) Macharia said that it will not honour any claims amid an escalating row with the industry regulator over the shareholding register.
SK Macharia, a businessman with interests in diverse sectors including media, now says that Directline, where he holds a key stake through Royal Credit Limited, claims that any insurance cover issued by the company is “invalid” due to “illegal” alteration of the share registry.
