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New regulations to fuel mergers in insurance industry

Jubilee Insurance Regional CEO Dr. Julius Kipng'etich (Left) and Jubilee Insurance Chairman Nizar Juma (Right). [Wilberforce Okwiri/Standard]

Small insurance companies could be swallowed up through direct acquisitions by bigger firms, or merge in order to comply with new regulations.

The regulations that are coming in form of new accounting rules dubbed IFRS 9 and IFRS 17, are introducing stringent capital requirements.

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