Local firms likely to miss out on deadline for new insurance rules

Kenya is likely to be left behind in implementing the new global insurance regulations. [Photo: Courtesy]

Kenya is likely to be left behind in implementing the new global insurance regulations even as the industry pushes for extension of the January 1, 2021 deadline.

At a forum organized by industry players to track the status of implementation of the IFRS 17 regulations in Nairobi on Tuesday, it emerged that Kenya is among the countries in sub-Saharan Africa that are yet to come to terms with the new financial reporting standards.