Jubilee, GA lead the pack in settling insurance claims
Jubilee Holdings regional chief executive Julius Kipng’etich (left) and chairman Nizar Juma during a media briefing after their annual general meeting at the Serena Hotel in Nairobi on June 25, 2019. PHOTO | SALATON NJAU | NMG
GA Life Assurance, Jubilee Insurance and AAR Insurance topped in settlement of claims in their respective categories in quarter one of 2019, the regulator shows.
Statistics from the Insurance Regulatory (IRA) shows that GA came first in the long-term insurance business by settling all the 400 claims outstanding in its book at the end of the quarter.
It rejected no claim during the period.
Jubilee topped the non-liability claims category under general insurance business for the quarter ended March 2019. It settled 935,530 claims out of 967,044 reported during the four months. Only 827 claims were rejected.
AAR insurance was the best in settlements under the general insurance business, settling 11 out of 16 claims.
The IRA said the returns were submitted within 15 days from the end of the month to which they relate. Both long-term (life business) and general business underwriters are required to submit monthly claims returns.
“The quarterly claims statistics summarises data into number of claims outstanding at the beginning of the quarter, action taken and the number of claims outstanding at the end of the quarter,” said the regulator.
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Note: The results are not exact but very close to the actual.
