× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Insurers to reap Sh3.5b from marine sector

By Lee Mwiti | Oct 7th 2016 | 1 min read
By Lee Mwiti | October 7th 2016

Insurance brokers expect to reap an estimated Sh3.5 billion in commission from a recent directive that marine covers be partly sourced locally.

The directive by Treasury CS Henry Rotich said KRA will be the watchdog of the new directive. The entire industry is expected to earn Sh20 billion in gross premium, with brokers taking away an estimated Sh3.5billion in commission. Previously, the insurance was arranged through overseas underwriters.

he Association of Insurance Brokers of Kenya has also lauded the move to cap interest rates charged by commercial Banks, citing that the expected uptake of credit could encourage more Kenyans to take up insurance policies.

“We are still waiting to see the full impact of capping interest rates,” Omolo said.

Share this story
Kenya counts on industrial parks to spur power uptake
The Government is betting on more industrial parks to increase demand for power to match ongoing huge investments.
China rejected Kenya's request for Sh32.8b debt moratorium
China is Kenya’s largest bilateral lender with an outstanding debt of Sh692 billion.