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Sh17bn windfall for Kenya marine insurers
Kenya Revenue Authority Commissioner- General John Njiraini and Maritime and Shipping Affairs Principal Secretary Nancy Karingithu during a media briefing on the implementation of the marine cargo insurance policy. PHOTO | DIANA NGILA
Insurance firms are eying a Sh17 billion windfall from January 1 when a new law that compels importers to buy policy from local payers takes effect.
Industry estimates show that such a requirement will push marine cargo insurance premiums handled by Kenyan underwriters from Sh2.9 billion last year to over Sh20 billion.
