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Licensed bancassurance firms now triple on legal compliance
Mwambu Mabonga at the IRA's Upper Hill office on February 16, 2023. President Ruto has revoked his appointment as the chairman of the Insurance Regulatory Authority (IRA). PHOTO | DIANA NGILA | NMG
The number of banks and microfinance banks offering insurance products has nearly tripled to 21 on increased compliance with regulatory reforms that were rolled out two years ago.
The latest Insurance Regulatory Authority (IRA) data shows the number of lenders offering insurance had hit 21 by March 1, an increase from eight in August last year.
