Insurance Uptake in Kenya Grows Slightly in 2022, Driven by Youthful Population

The Kenyan insurance industry experienced slight growth in 2022, despite high inflation that constrained the speed of uptake. According to the Insurance Regulatory Authority (IRA), insurance penetration increased to 2.29% in 2022, up from 2.25% in 2021, while insurance density increased to Sh6,061 from Sh5,442. The industry recorded Sh310.27 billion in gross premium in 2022,…

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