Agents accuse insurers of eating their lunch

Bima Intermediaries Association of Kenya chairman Washington Ndegea during the interview at Nation Centre in Nairobi. FILE PHOTO| SALATON NJAU | NMG

Insurance agents say underwriters have taken to directly sourcing business from clients resulting in the first quarter 2017 commission dip.

Insurance Regulatory Authority (IRA) data showed the net spending on commissions for the period was Sh2.92 billion, representing a decline of 6.6 per cent from Sh3.12 billion reported in the first quarter of 2016.

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