By JAMES NGUNJIRIMore by this AuthorIslamic insurance recorded the fastest growth among micro-insurers in 2017 even as Britam upped its market leadership by 11.18 per cent, data from the Association of Kenya Insurers (AKI) shows. In 2017, insurance premiums collected from low-income earners in Takaful insurance hit Sh254.52 million in gross written premiums from Sh3.71 million recorded in 2016. Britam continued to dominate the market segment after posting Sh644.72 million in gross written premiums from Sh579.89 million recorded in 2016, representing over one-third of the market. Takaful insurance is offered by Takaful Insurance of Africa, which is the only Sharia-compliant underwriter in the country. Takaful is an Islamic insurance based on Sharia law, an alternative to conventional insurance products.

Source: Daily Nation September 04, 2018 18:11 UTC