Insurance up 13pc as fraud dents private motor, medical business

Resolution Insurance CEO Peter Nduati. The insurer led the medical chart losses at Sh387 million. FILE PHOTO | NMG

The insurance industry expanded by 13.4 per cent to hit gross premiums of Sh174 billion last year, but private motor cover made a blot on the sector as it deepened underwriting losses to Sh3.4 billion last year up from Sh3.36 billion in 2015.

The losses were attributed to rampant fraud by private vehicle owners.

PAYE Tax Calculator

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