Insurance customers tap more policy loans on pandemic woes businessdailyafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessdailyafrica.com Daily Mail and Mail on Sunday newspapers.
UAP beats CIC to claim top spot in general insurance
Monday January 18 2021
By PATRICK ALUSHULA
Summary
Latest data from the Insurance Regulatory Authority (IRA) shows that UAP closed last June with a market share of 8.3 percent, climbing from the fourth position it occupied in previous similar period.
The jump in market share was from 7.1 percent it had in June 2019 and came on the back of UAP’s gross written premium growing by 17 percent to Sh6.05 billion.
CIC market share dropped from 8.3 percent to 8.1 percent as that of APA retreated from 7.4 percent to 7.2 percent.
UAP Insurance Company has overtaken CIC #ticker:CIC and APA insurance firms to become the top general insurer as measured by the amount of gross written premiums.