Expect mergers in East Africa insurance industry: Deloitte

NAIROBI: Insurers in East Africa should brace for more dynamic mergers and acquisitions as competition in the industry undermines the ability of established insurers to raise or even maintain pricing levels, a new report released by Deloitte has indicated.

According to the professional services firm, an influx of new capital flows from sources such as private equity funds and foreign insurers is expected to enhance the overall capacity of the industry, thus leading to cut-throat competition.