Claims on personal cars and matatus push 17 insurers into losses

Huge claims on personal cars and matatus pushed nearly half of insurance companies into underwriting losses.

Some 17 of the 36 insurance companies took a beating from increased claims from the two classes. Overall, the industry plunged into an underwriting loss of Sh226.2 million. According to the Insurance Regulatory Authority (IRA), the industry suffered a loss of Sh3.1 billion as claims on personal cars exceeded the premiums collected.