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2014 Insurance Industry Report

 

AKI launched the Insurance Industry Report for 2014 on Thursday, 6th August 2015.

 

The Insurance Industry Annual Report is an annual publication of the Association of Kenya Insurers (AKI).  This is the 11th issue of the Insurance Industry Annual Report. The report highlights the performance of the insurance industry, compares the performance with other markets and the prospects for future growth.

 

The Insurance Industry grew by 20.3% in 2014 (2013: 20.4%).  Gross Premium in 2013 was Ksh 157.21 billion (2013: Ksh 130.65 billion).  Non Life Insurance Premium was Ksh 100.24 (2013:Ksh 86.64 billion) – 15.7% growth.  Life Insurance Premium was Ksh 56.97 (2013:Ksh 44.01 billion) – 29.4% growth.

 

The industry incurred net claims of Ksh 82.36 billion in 2014 compared to Ksh 65.47 billion in 2013, an increase of 25.8%.  Net Earned Premium income increased by 25.0% from Ksh 81.32 billion to Ksh 101.64 billion.  Investment earnings and other income increased by 6.5% from Ksh 42.76 billion to Ksh 45.55 billion. Total Commissions and Expenses increased by 20.9% from Ksh 40.82 billion to Ksh 49.37 billion.

 

Profit before taxation decreased by 13.1% to Ksh 15.46 billion in 2014 (2013: Ksh 17.79 billion). Insurance Industry total assets increased by 16.3% to Ksh 417.43 billion (2013: Ksh 358.82 billion). Total liabilities increased by 15.6% to Ksh 328.70 billion (2013: Ksh 284.33 billion).  Non Life Insurance business - Engineering had the highest premium growth of 29.5%

 

Click 2014 AKI Insurance Industry Report to download a copy of the full report.

 

Previous years reports are available below: 

  1. 2013 Industry Report 2013 AKI Insurance Industry Report
  2. 2012 Industry Report 2012 AKI Insurance Industry Report
  3. 2011 Industry Report 2011 AKI Insurance Industry Report
  4. 2010 Industry Report 2010 AKI Insurance Industry Report
  5. 2009 Industry Report 2009 AKI Insurance Industry Report
  6. 2007 Industry Report 2007 AKI Insurance Industry Report
  7. 2006 Industry Report 2006 AKI Insurance Industry Report