Insurance companies increased their investment in government bonds and T-bills by Sh66.2 billion or 15 percent in the quarter ended December, seeking to lock in double-digit returns offered by the securities.
Data from the Insurance Regulatory Authority (IRA) shows that the companies, including primary insurers and reinsurers, raised their investment in the assets to Sh506.6 billion in the review period from Sh440.3 billion a year earlier.
