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Profits of underwriters hit by a Sh28bn surge in claims
Major insurance firms that have disclosed their earnings for the period ended June 2025 have revealed falling profits from an underperformance of their underwriting business.
A Sh27.5 billion rise in claims in the first half of 2025 significantly slashed the profits of insurance firms, offsetting the gains realised from investments and other revenue streams.
Data from the Insurance Regulatory Authority (IRA) and disclosures in the published financial statements by underwriters link the drop in profits with the surge of claims, particularly in the motor and health classes.
