Kenya’s insurance industry faces a fresh round of mergers and acquisitions under new accounting rules that require underwriters to make disclosures on sources of earnings, cash flows, impairment provisioning, and fraud.
Experts say the disclosures under the new guidelines — technically referred to as International Financial Reporting Standard (IFRS) 17 to come into force January 2021 — will provide investors with more insights into insurers’ financial health and make it easier to compare entities.
