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African Merchant Assurance Company (Amaco) whose market share in motor segment has significantly dropped now wants to forge closer relationships with car owners to shove up revenues.
The market has not been easy for the insurer after cut down on issuing covers to fraud-hit public service vehicle cover. The firm’s market share of motor segment now stands at 56 per cent as opposed to 80 per cent recorded in 2011. “We have replaced passengers with assets due to lack of inventory on passengers by matatu operators,” Elizabeth Koskei, Amaco General Manager said.
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