Kenya’s insurance industry posted solid performance in 2024 as players navigated the second year of reporting under the IFRS-17 standard. With initial compliance largely achieved, insurers shifted their focus to optimizing operations, strengthening systems, and enhancing cross-functional collaboration.

Core insurance activities delivered improved results, with insurance service revenue rising by 8% to KES 275.18 billion, up from KES 255.11 billion in 2023. The insurance services res...

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