Jitters as PSV insurer sinks with Sh1.5b of clients' money

Matatu wreckage at a crash scene. Invesco has been facing a crisis after being unable to settle claims on what has been attributed to a liquidity crisis. [Kpsang Joseph, Standard]

Thousands of clients and suppliers have been thrust into uncertainty after Invesco Assurance Company, the firm offering covers to public service vehicles, (PSVs) collapsed with hundreds of millions of shillings in client cash, insurance claims, and creditor funds.

Matatu owners and public transport bus operators will be waiting eagerly to recover their funds from the failed insurer - a process that in the past has been painfully long and agonising.