By GIDEON NYENDWA
THE Pensions and Insurance Authority (PIA) has disclosed that over K2.2 billion was paid out in insurance claims in 2023, up from K1.8 billion in 2022.
Speaking during the official opening of the 2024 insurance week which is being held under the theme insurance the solution to uncertain times, PIA Registrar and Chief Executive Officer, Namakau Ntini said K891 million was paid by general insurers, while long-term insurers disbursed K1.4 billion in claims.
Ms. Ntini revealed that the gross written premiums reached K7.8 billion, a 29.48 percent growth from K6 billion in 2022, compared to a 12.89 percent growth rate in the previous year.
She also urged industry players to use the insurance week to showcase the innovative solutions and service that were being offered in response to the country’s evolving needs CLICK HERE TO READ MORE
Author
