Fraudulent claims are estimated to constitute a fifth of the total claims made, with medical covers being the main target.
By
George Ngigi
Correspondent
Nation Media Group
Old Mutual Holdings lost Sh106.4 million due to fraud last year, revealing the pain cons are causing insurance companies.
Kenya’s KCB Group fires staff over fraud as cases drop sharply
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Fraud remains one of the most persistent and expensive challenges. According to the Insurance Fraud Investigation Unit, 184 cases…
KCB blocked fraud attempts worth Sh141.1 million in 2025 and cut fraud-related write-offs sharply.
Old Mutual becomes the second insurer this year to use share premium to clear its accumulated losses.
Kenya’s healthcare costs are projected to grow by 13.5 percent in this year, up from 9.8 percent in 2023, according to Aon…
Companies in Kenya spend millions of shillings on employee medical schemes annually, making it a key component of staff costs.
Insurance revenue climbed by 19.6 per cent to N80 billion, with Nigeria contributing more than three-fourths of that sum, while…
