Insurance Regulatory Authority (IRA) acting CEO Godfrey Kiptum Continental Reinsurance Celebrations of 10 years existence in Kenya, on Thursday, October 11, 2018. [File]The insurance regulator has singled out troubled Amaco and Xplico insurance companies over liability issues and rising customer complaints. Insurance Regulatory Authority (IRA) Chief Executive Godfrey Kiptum said the complaints include delayed payments and disputes on the amount payable. The authority has received complaints on Xplico and Amaco amongst other insurers,” said Kiptum. Last year, IRA disclosed that 20 firms, a third of Kenya’s 56 licensed insurers, were not compliant with capital requirements.

Source: Standard Digital January 25, 2021 18:12 UTC