Private motor insurance loss hits Sh693.8 million

MEDICAL insurance has for the first time made a profit, as motor private insurance registered a whooping 608.7 per cent rise in losses to Sh693.8 million. It was the only class of insurance that recorded a loss last year. According to the Insurance Regulatory Authority’s 2013 report released yesterday, underwriting loss for mo- tor private insurance was seven times more than in 2012 when it recorded a loss of Sh97.92 million. Association of Kenya Insurers figures based on audited results of its members however captures a loss of Sh746 million for motor private. This is despite the...