Business Daily | by Otiato Guguyu
A third of insurance companies in Kenya failed to comply with capital requirements introduced in July prompting the regulator to extend the deadline by six months.
Twenty insurance companies or 35 percent of 56 licensed businesses now have up to December to pump money into their business to shore up capital or lose their operating licences.
The Insurance Regulatory Authority (IRA) said they conducted a review mid this year on companies that met new requirements on capital and found that the 20 firms were short of cash…
