General insurers profit up 29pc in nine months

AAR Insurance Kenya MD Nixon Shigoli whose firm was the second most profitable. PHOTO | SALATON NJAU

Kenyan general insurance companies recorded a 29.5 percent jump in operating profits in the nine months ended September, helped by reduced costs.

Data from the Insurance Regulatory Authority (IRA) show that they made a combined Sh1.7 billion operating profit in the review period compared to Sh1.3 billion a year earlier.

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Note: The results are not exact but very close to the actual.