How Kenyan insurers will benefit from new marine policy

Cargo at the Mombasa Port. Importers are expected to secure maritime insurance policy starting February 14, 2025. [File, Standard]

Kenyan Insurance companies are eyeing profits once a new policy requiring importers to secure maritime insurance policy locally kicks in.

According to data from the World Bank, the global market for Marine Insurance was estimated at $29.6 Billion in 2023 and is projected to reach $33.7 Billion by 2030.