Insurance Industry Report for the Period January June 2016 ...

Insurance Industry Report for the Period

January – June 2016

Second Quarter Release

August 2016

Bima Bora Kwa Taifa 2

INTRODUCTION

About Insurance Regulatory Authority

The Insurance Regulatory Authority (IRA) is a State Corporation whose mandate is

to regulate, supervise and promote the development of the insurance industry in

Kenya. The key players regulated by IRA are Insurance Companies, Re-Insurance

Companies, Insurance Brokers, Insurance Agents, Motor Assessors, Insurance

Investigators, Insurance Surveyors, Loss Adjustors, Claim Settling Agents and Risk

Managers.

The Authority has been working with various stakeholders locally, regionally and

internationally to put in place policies that will enhance the regulatory

environment for the insurance sector growth and enhance insurance access in the

country.

About this Release

This is the 2016 second quarter industry release which provides market

information and statistical overview of the insurance industry in Kenya for the

period January to June 2016.

Acknowledgement

The insurance information contained in this report has been extracted from the

quarterly unaudited returns submitted to the Authority in line with Section 54 of

the Insurance Act. No adjustments have been made to the returns’ data except

where necessary in consultation with the insurer(s) or reinsurer(s).

All the amounts are given in thousand Kenya shillings (‘000’ KES) except where

otherwise stated.


Industry Highlights

The Authority, in partnership with other stakeholders, has continued to undertake

various initiatives aimed at developing the insurance industry in Kenya.

During the second quarter of 2016, the following activities were undertaken by IRA

in line with its mandate to promote the development of the insurance sector in

Kenya.

Executive Certificate of Proficiency in Insurance

ECOP program is one of the ways the Authority enhances the capacity and access

to insurance in the country by training and licensing potential insurance agents at

the counties. During the quarter under review the following ECOP trainings were

conducted in the following counties:

County Training Number of Participants Period

Narok ECOP 111 4th - 16th April 2016

Busia ECOP 113 18th - 30th April 2016

Laikipia ECOP 119 16th - 28th May 2016

Trainings and Other Corporate Events

The Authority carried out the following trainings and workshops for the various

stakeholders during the second quarter of the year 2016:

Training Target Group Date

No. of

Participants

Business Continuity Management (BCM) Guideline CEO's of Insurance Companies 14th April 2016 46

Insurance Brokers, Nairobi 18th May 2016 38

Insurance Brokers, Mombasa 9th June 2016 35

Strategic Planning for Sustainable Growth and

DevelopmentCEO's of Insurance Companies 10th June 2016 59

Treating Customers FairlyInsurance Agents from Life

Insurance companies29th June 2016 99

Anti-Money Laundering & Combating of Financing of

Terrorism (AML & CFT)

Recently Developed/Repackaged Insurance Products

During the second quarter of the year 2016 the following new/repackaged

insurance products were filed with the Authority by various insurance companies:


New/Repackaged product Class of Business Company

Sleep Easy Fire domestic GA Insurance

Trucksure Commercial Motor Insurance Motor UAP General

Whole Life Individual Life Prudential Life

PruMemorial Individual Life Prudential Life

Airtel Device Protection Engineering Sanlam General

Equiflex Bima Individual Life Britam Life

Tegemeo Individual Life Britam Life

Pinduzi Medical AAR

GAP Protect Motor Jubilee General

MTIBA Medical UAP General

Endeleza Elimu Group Life Britam General

Pru Super 7 Individual Life Prudential Life


ECONOMIC AND MARKET ANALYSIS

Some key economic indicators’ trends are analyzed as follows:

Inflation:

In computation of inflation, the Consumer price index (CPI) is used. This index

measures changes in the price level of consumer goods and services purchased by

households in a given period relative to a base period. Changes in CPI determine

the rate of inflation in an economy.

Source: KNBS

The first half of 2016 has been characterized by gradually falling inflation from

8.0% in December 2015 to a low of 5.0% in May 2016. However, a slight uptick in

inflation was witnessed in the month of June 2016 owing to the reversal in

petroleum prices trend experienced earlier in the year.

Bank Rates


Source: CBK

Despite the lowering of the Central Bank Rate by the Monetary Policy Committee

from 11.5% to 10.5% in May 2016, the commercial banks’ weighted average

lending rates remained relatively high during the quarter to June 2016, closing the

quarter at 18.0%. The money market yield hit a 12 month low of 7.3% in June

2016.

Exchange Rates:

Source: CBK


The domestic currency remained relatively stable against the Euro and the Dollar

during the second quarter of 2016. However, the shilling gained ground against the

pound that depreciated after Brexit. The end of quarter closing exchange rates,

were KES 136.44, KES 101.10 and KES 112.30 against the pound, dollar and euro

respectively.

Capital Markets:

Market activity in the secondary market has remained relatively stable during the

first half of the year. Quarter two of the year saw equity turnover rise to KES 17.25

billion as market capitalization closed at KES 2.00 trillion.

Source: CMA

Generally, performance of the Kenyan capital markets (in terms of returns)

gradually dwindled over the second quarter of 2016 with both the NSE and the

NASI closing at a quarter’s low of 3641.0 and 140.6 respectively in June 2016.


Source: CMA

Real Estate Market:

The Kenya Bankers Association Housing Price Index (KBA-HPI) showed continuous

but modest increase in house prices in the country during the second quarter of

the year 2016. The KBA-HPI increased by 1.7% compared to the 1.4% rise during

the first quarter of 2016.

According to KBA report (Issue 6, 2016), the supply of housing has been increasing

in response to various demand characteristics in the market as reflected in the

following factors:

i) House supply is mostly influenced by the middle class population in the

market and supply is constrained towards the lower class population where

developers opt to let rather than sell.

ii) Banking sector support towards home acquisition (mortgages) which has

been enabled by stable macroeconomic environment.

iii) The gradual opening up of new geographical areas for housing development

in response to physical infrastructure expansion, especially transport.


ANALYSIS OF KEY INSURANCE INDICATORS

The industry data is summarized in the following table:

KES '000' KES '000' KES '000' (2016/2015) KES '000' KES '000' KES '000' (2016/2015)

Gross Premium Income 32,601,233 29,739,454 25,234,309 9.62 63,904,830 58,639,618 51,409,400 8.98

Net Premium Income 30,063,732 27,400,364 23,680,268 9.72 48,023,459 42,642,758 37,721,271 12.62

Net Earned Premium Income (GB) - - - - 43,150,459 38,510,122 33,982,109 12.05

Claims Incurred (GB) - - - - 26,880,590 24,479,719 20,338,286 9.81

Benefit Payment (LT) 18,768,173 14,760,369 13,291,716 27.15 - - - -

Commissions 2,656,476 2,238,414 2,128,576 18.68 3,522,938 3,007,281 2,591,306 17.15

Management Expenses 5,798,336 4,995,877 4,216,871 16.06 12,317,846 11,127,735 9,798,901 10.69

Underwriting Profits (GB) - - - - 429,090 (104,608) 1,253,621 510.19

Profit Before Tax (EBT) 2,796,729 2,113,256 3,246,931 32.34 4,248,134 4,154,478 5,215,042 2.25

Profit After Tax (PAT) 1,837,996 1,791,549 3,009,639 2.59 3,085,450 3,123,971 4,300,406 -1.23

Shareholders' Funds 39,514,214 31,472,617 32,841,797 25.55 65,724,171 60,537,333 54,452,342 8.57

Total Assets 285,812,884 253,577,573 215,877,934 12.71 169,132,854 158,655,204 138,915,401 6.60

Total Liabilities 246,298,672 222,104,951 183,036,140 10.89 103,408,683 98,117,873 84,463,063 5.39

Investments 252,645,763 232,881,779 195,997,749 8.49 110,839,330 105,522,925 93,739,188 5.04

Gross Premium Income 1,409,319 1,185,745 662,257 18.86 8,094,606 8,087,953 6,447,325 0.08

Net Premium Income 1,255,370 1,013,962 556,753 23.81 7,622,491 7,723,915 5,954,396 -1.31

Net Earned Premium Income (GB) - - - - 7,457,416 7,124,402 5,471,763 4.67

Claims Incurred (GB) - - - - 4,242,449 3,800,929 2,907,787 11.62

Benefit Payment (LT) 582,207 360,963 214,810 61.29 - - - 0.00

Commissions 398,816 313,835 190,127 27.08 2,152,855 2,099,128 1,660,661 2.56

Management Expenses 142,912 166,094 82,644 -13.96 625,085 546,313 456,905 14.42

Underwriting Profits (GB) - - - - 437,027 678,030 446,409 -35.54

Profit Before Tax (EBT) 526,943 340,117 221,401 54.93 2,134,507 2,241,925 1,828,245 -4.79

Profit After Tax (PAT) 383,835 264,751 211,673 44.98 1,494,156 1,581,713 1,285,623 -5.54

Shareholders' Funds 4,565,754 3,788,325 3,872,243 20.52 22,877,055 21,534,483 17,834,404 6.23

Total Assets 8,771,879 7,745,726 6,763,280 13.25 37,929,229 35,505,726 30,641,302 6.83

Total Liabilities 4,206,126 3,957,400 2,891,037 6.29 15,052,174 13,971,242 12,806,899 7.74

Investments 8,317,513 7,287,767 6,283,221 14.13 29,023,262 27,839,923 22,872,060 4.25

Indicator

2014 Q2Annual

Change (%)

Insurers

Reinsurers

2014 Q2Annual Change

(%)2016 Q2 2015 Q2

Life Business General business

2016 Q2 2015 Q2

Industry Gross Premium Income

The Kenyan insurance market continued to show growth in business in the second

quarter of 2016. The industry experienced a lower growth rate during the quarter

under review compared to that recorded in the second quarter of 2015. Insurance

premiums during the second quarter of 2016 registered a year-on-year growth of

9.2% compared to 15.3% year-on-year growth registered in the second quarter of

2015.

The non-life segment continues to dominate the insurance market. General

insurance segment contributed 66.2% (KES 63.90 billion) while long-term

insurance business contributed 33.8% (KES 32.60 billion) of the total premium


written by insurers during the quarter under review. The year-on-year premium

growth experienced in general insurance business was however lower than that

recorded under long-term business for both insurers and reinsurers.

The following chart shows the distribution of gross premium income written by

insurers:

The distribution of gross premium income under reinsurance business is shown in

the following chart:

Reinsurance premiums reported during the quarter grew by a much lower margin

of 2.5% compared to the growth registered by insurers. The premium reported by


reinsurers in the second quarter amounted to KES 9.50 billion from KES 9.27

billion reported in the second quarter of 2015. This year-on-year growth of 2.5% in

the second quarter of 2016 was significantly lower than the growth reported in the

same period in 2015 of 30.4%. The premium income reported under long term

reinsurance business amounted to KES 1.41 billion while that under general

reinsurance business was KES 8.09 billion. During the second quarter of 2015,

long term insurers retained 92.2% of the business written, while general insurers

retained 75.2% of their total business. (2014: 92.1% and 72.7% respectively).

Claims experience and underwriting expenses

The loss ratio under general insurance for the quarter under review was 62.3%

(2015 Q2: 63.4%). This resulted from the higher growth in net earned premium

compared to claims incurred between the quarters at 12.1% and 9.8% respectively.

The claims incurred during the quarter amounted to KES 26.88 billion increasing

from KES 24.48 billion incurred during the same quarter of 2015. A total of KES

23.57 billion was paid out as claims by general insurers.

Life insurance benefits paid increased by 27.2% during the second quarter of 2016

to KES 18.77 billion from KES 14.76 reported in 2015’s second quarter.

Underwriting expenses comprise of both expenses of management and

commissions. Total net commissions for the second quarter of 2016 amounted to

KES 6.18 billion, representing a growth of 17.8% from KES 5.25 billion reported

during the second quarter of 2015. Management expenses grew by a smaller

margin of 12.4% from KES 16.12 billion by the end of the second quarter of 2015

to KES 18.12 billion by the end of the second quarter of 2016.

Commissions and management expenses ratios under general insurance business

were 8.2% and 28.6% respectively resulting to a combined ratio of 99.0% during

the quarter under review.

Shareholders’ Funds

Investors’ equity funds amounted to KES 132.68 billion as at the end of the second

quarter of 2016. These had grown by 13.1% between the second quarters of 2016

and 2015. This growth may be attributed to capital restructuring following the

changes in regulatory capital requirements.

Some of the key components of shareholders’ funds were retained earnings at

40.1%, paid up capital at 30% and statutory reserves at 14.2%.


The distribution of industry investor’s equity is illustrated by the following chart:

Assets and Liabilities

The insurance industry asset base was KES 501.65 billion as at the end of June

2016. This was a growth of 10.1% from KES 455.48 billion held as at the end of

the previous year’s second quarter. Income generating assets formed 79.9% (KES

400.83 billion) of the total assets.

The total insurance industry’s liabilities grew by 9.1% to KES 368.97 billion from

KES 338.15 billion registered in the same quarter last year.

Investments

Insurance business requires companies to invest in assets that match their

liabilities in both nature and term. Consequently, most insurers held their

investments in government securities (47.2%), investment property (17.3%), term

deposits (12.3%) and quoted ordinary shares (10.0%).

The investment portfolio for the industry is shown in the following chart:


The following chart shows the distribution of the investments held by the general

insurance business underwriters:

The following chart displays the distribution of the investments held by the long

term underwriters:


Key Industry Operating Ratios

The industry key operating ratios for both long term and general insurance

businesses for the second quarter of 2016 are summarized in the following table:

2016 Q2 2015 Q2 2014 Q2 2016 Q2 2015 Q2 2014 Q2

Retention Ratio 92.22 92.13 93.84 75.15 72.72 73.37

Net Incurred Claims Ratio (GB) - - - 62.30 63.57 59.85

Net Commission Ratio 8.84 8.17 8.99 8.16 7.81 7.63

Management Expense Ratio 19.29 18.23 17.81 28.55 28.90 28.84

Combined Ratio - - - 99.01 100.27 96.31

Shareholders' funds to Total Assets 13.83 12.41 15.21 38.86 38.16 39.20

Return on Assets (ROA) 1.04 0.90 0.00 2.59 2.79 0.00

Return on Equity (ROE) 5.18 5.57 0.00 4.89 5.43 0.00

Retention Ratio 89.08 85.51 84.07 94.17 95.50 92.35

Net Incurred Claims Ratio (GB) - - - 56.89 53.35 53.14

Net Commission Ratio 31.77 30.95 34.15 28.87 29.46 30.35

Management Expense Ratio 11.38 16.38 14.84 8.38 7.67 8.35

Combined Ratio - - - 94.14 90.48 91.84

Shareholders' funds to Total Assets 52.05 48.91 57.25 60.32 60.65 58.20

Return on Assets (ROA) 6.38 4.69 0.00 5.81 6.78 0.00

Return on Equity (ROE) 9.19 6.91 0.00 6.73 8.04 0.00

General businessLife Business

Reinsurers (%)

Indicator

Insurers (%)


Definition of Ratios

Retention ratio = (Net premium / Gross premium)*100

Net Incurred claims ratio = (Net Incurred claims / Net earned

premium)*100

Net Commission ratio (general) = (Net Commissions / Net earned

premium)*100

Net Commission ratio (long term) = (Net Commissions / Net premium)*100

Management expense ratio (general) = (Management expense / Net earned

premium)*100

Management expense ratio (long-term)= (Management expense / Net

premium)*100

Combined ratio (general) = (Net Incurred claims ratio + Net

commissions ratio + Management expense

ratio)

Shareholders’ funds to total assets = (Shareholders’ funds / Total assets)*100

Return on assets = (Profit before tax/average total assets)*100

Return on equity = (Profit after tax/average equity)*100


Statistical Appendices

Appendix 1: Summary of general insurance business profit & loss accounts for the period ended

30.06.2016

Appendix 2: Summary of long term insurance business profit & loss accounts for the period ended 30.06.2016

Appendix 3: Summary of long term insurance business gross premium income for the period ended 30.06.2016

Appendix 4: Summary of long term insurance business market share per class for the period ended

30.06.2016

Appendix 5: Summary of ordinary life business revenue accounts for the period ended 30.06.2016

Appendix 6: Summary of group life business revenue accounts for the period ended 30.06.2016

Appendix 7: Summary of pensions business revenue accounts for the period ended 30.06.2016

Appendix 8: Summary of combined long term business revenue accounts for the period ended 30.06.2016

Appendix 9: Summary of gross premium income under general insurance business for the period

ended 30.06.2016

Appendix 10: Summary of general insurance business market share per class for the period ended

30.06.2016

Appendix 11: Summary of claims paid under general insurance business for the period ended 30.06.2016

Appendix 12: Summary of claims incurred under general insurance business for the period ended

30.06.2016

Appendix 13: Summary of incurred claims ratios under general insurance business for the period

ended 30.06.2016

Appendix 14: Summary of underwriting profits under general insurance business for the period

ended 30.06.2016

Appendix 15: Summary of general insurance business revenue accounts for the period ended

30.06.2016

Appendix 16: Summary of long term insurance business balance sheets as at 30.06.2016

Appendix 17: Summary of general insurance business balance sheets as at 30.06.2016


1

Company

Profit Transferred from

Revenue

Investment

Income Other Income Total Income

Loss Transferred From

Revenue

Management

Expenses Total Outgo

Profit / (Loss) Before

Taxation

Provision for

Taxation

Profit/(Loss) After

Taxation

Unappropriated

Profit/(Loss) BF

Transfer To

Reserves

Other

Appropriations Dividend

Unappropriated Profit

/(Loss) CF

AAR INSURANCE KENYA 56,567 - - 56,567 - - - 56,567 - 56,567 ( 220,599 ) - - - ( 164,032 )

AFRICAN MERCHANT ASSURANCE 89,245 - - 89,245 - - - 89,245 - 89,245 561,094 - - - 650,339

AIG INSURANCE COMPANY 48,187 132,057 - 180,243 - - - 180,243 54,266 125,977 1,262,927 - - - 1,388,904

ALLIANZ INSURANCE COMPANY 9,603 - - 9,603 - - - 9,603 - 9,603 36,369 - - - 45,972

APA INSURANCE COMPANY - 459,392 - 459,392 30,576 - 125,578 333,813 105,550 228,263 3,168,460 - - 100,000 3,296,723

BRITAM GENERAL INSURANCE 224,128 357,331 - 581,460 - - - 581,460 196,632 384,828 ( 175,124 ) - - - 209,704

CANNON ASSURANCE COMPANY - ( 22,407 ) - ( 22,407 ) 184,580 - 184,580 ( 206,987 ) - ( 206,987 ) 470,770 - - - 263,782

CIC GENERAL INSURANCE COMPANY 573,167 - - 573,167 - - - 573,167 - 573,167 2,381,706 - - - 2,954,872

CORPORATE INSURANCE COMPANY 45,820 - - 45,820 - - - 45,820 - 45,820 504,342 - - - 550,162

DIRECTLINE ASSURANCE COMPANY - 134,911 8,997 143,908 91,442 9,875 127,048 16,859 ( 8,003 ) 24,862 586,047 - - - 610,909

FIDELITY SHIELD INSURANCE - 91,744 - 91,744 80,801 18,247 133,399 ( 41,655 ) - ( 41,655 ) 400,963 - - - 359,308

FIRST ASSURANCE COMPANY - 146,045 - 146,045 46,641 - 46,641 99,404 29,009 70,395 1,351,946 - - 458,000 964,341

GA INSURANCE COMPANY 700,576 - - 700,576 - - - 700,576 231,182 469,394 1,044,092 25,887 - - 1,487,598

GEMINIA INSURANCE COMPANY ( 90,967 ) - - ( 90,967 ) - - - ( 90,967 ) - ( 90,967 ) 353,611 - - - 262,644

HERITAGE INSURANCE COMPANY 455,801 - - 455,801 - 106,847 106,847 348,954 95,962 252,992 1,586,487 - - 60,000 1,779,479

ICEA LION GENERAL INSURANCE 108,910 346,686 - 455,597 - 264,423 279,611 175,986 56,315 119,670 1,975,670 - - - 2,095,340

INTRA-AFRICA ASSURANCE 17,011 14,186 13,866 45,063 - 661 4,023 41,040 12,312 28,728 67,724 - - - 96,452

INVESCO ASSURANCE COMPANY - 21,125 3,496 24,621 9,212 - 27,675 ( 3,054 ) ( 916 ) ( 2,138 ) ( 1,254,908 ) - - - ( 1,257,045 )

JUBILEE INSURANCE COMPANY 385,617 - - 385,617 - - - 385,617 105,147 280,470 3,965,149 - 689,269 - 3,556,350

KENINDIA ASSURANCE COMPANY 10,743 - 544 11,287 - 5,864 25,069 ( 13,782 ) - ( 13,782 ) 1,624,603 - - - 1,610,821

KENYA ORIENT INSURANCE 116,448 - 1,697 118,146 - 56,381 56,381 61,765 - 61,765 94,617 - - - 156,382

MADISON INSURANCE COMPANY - 29,083 1,614 30,696 116,438 - 116,438 ( 85,741 ) - ( 85,741 ) 726,011 - - - 640,269

MAYFAIR INSURANCE COMPANY 137,169 93,665 736 231,571 - 686 14,158 217,412 65,224 152,189 719,888 60,699 - - 811,377

OCCIDENTAL INSURANCE COMPANY 237,694 - 3 237,697 - 20,050 20,755 216,942 65,083 151,860 278,594 - - - 430,454

PACIS INSURANCE COMPANY 36,194 - - 36,194 - 2,912 2,912 33,282 10,858 22,424 - - - - 22,424

PHOENIX OF EAST AFRICA - - - - 52,048 - 52,048 ( 52,048 ) - ( 52,048 ) 1,106,948 - - - 1,054,900

RESOLUTION INSURANCE COMPANY - - - - 52,513 - 52,513 ( 52,513 ) - ( 52,513 ) ( 389,968 ) - - - ( 442,481 )

SAHAM INSURANCE COMPANY 26,926 - - 26,926 - - - 26,926 8,078 18,848 167,038 - - 14,965 170,922

SANLAM GENERAL INSURANCE LIMITED 18,100 - - 18,100 - - - 18,100 - 18,100 ( 237,497 ) - - - ( 219,397 )

TAKAFUL INSURANCE OF AFRICA 12,863 30,664 6,670 50,197 - - - 50,197 15,059 35,138 ( 124,206 ) - - - ( 89,068 )

TAUSI ASSURANCE COMPANY 10,144 84,838 ( 17,211 ) 77,772 - 2,890 10,212 67,560 20,579 46,981 257,984 - - 60,000 244,965

THE KENYAN ALLIANCE INSURANCE 32,223 - - 32,223 - - - 32,223 9,667 22,556 1,164,110 - - - 1,186,667

THE MONARCH INSURANCE 15,159 9,747 - 24,906 - 1,930 11,229 13,677 8,067 5,610 61,735 - - - 67,345

TRIDENT INSURANCE COMPANY 87,013 62,944 23,947 173,904 - 30,840 30,840 143,063 - 143,063 1,479,454 - - - 1,622,517

UAP INSURANCE COMPANY - 513,888 - 513,888 122,819 203,193 326,011 187,877 56,363 131,514 5,336,622 - - - 5,468,135

XPLICO INSURANCE COMPANY 64,663 22,840 - 87,503 - - - 87,503 26,251 61,252 204,771 - - - 266,023

TOTAL 3,429,004 2,528,739 44,359 6,002,105 787,070 724,799 1,753,968 4,248,134 1,162,685 3,085,450 30,537,430 86,586 689,269 692,965 32,154,057

CONTINENTAL REINSURANCE 88,806 - 1,203 90,009 - - - 90,009 27,003 63,007 152,026 2,270 - - 212,763

EAST AFRICA REINSURANCE 247,223 - 176 247,399 - - 5,812 241,587 72,476 169,111 1,127,482 ( 65,402 ) 200,000 60,000 1,101,994

KENYA REINSURANCE CORPORATION 1,784,489 18,422 - 1,802,911 - - - 1,802,911 540,873 1,262,038 15,760,396 - - - 17,022,434

TOTAL 2,120,518 18,422 1,379 2,140,319 - - 5,812 2,134,507 640,352 1,494,156 17,039,904 ( 63,132 ) 200,000 60,000 18,337,191

GRAND TOTAL 5,549,522 2,547,161 45,738 8,142,424 787,070 724,799 1,759,780 6,382,641 1,803,037 4,579,606 47,577,334 23,454 889,269 752,965 50,491,248

APPENDIX 1: SUMMARY OF GENERAL INSURANCE BUSINESSS PROFIT & LOSS ACCOUNTS FOR THE PERIOD ENDED 30.06.2016

REINSURERS

Amounts in Thousand Shillings

INSURERS


2

Company

Profit

Transferred

from Revenue

Investment

Income Other Income Total Income

Loss Transferred

From Revenue

Management

Expenses Total Outgo

Profit / (Loss)

Before Taxation

Provision for

Taxation

Profit/(Loss) After

Taxation

Unappropriated

Profit/(Loss) BF

Transfer To

Reserves

Other

Appropriations Dividend

Unappropriated

Profit /(Loss) CF

APA LIFE ASSURANCE COMPANY - 26,273 ( 11,897 ) 14,375 - 6,190 6,190 8,185 6,025 2,161 - - - - 2,161

BARCLAYS LIFE - 34,460 - 34,460 368,759 3,458 372,217 ( 337,758 ) - ( 337,758 ) - - - - ( 337,758 )

BRITAM LIFE ASSURANCE 2,570,185 ( 19,146 ) - 2,551,039 - - - 2,551,039 771,056 1,779,983 - - - - 1,779,983

CANNON ASSURANCE COMPANY - - - - - - - - ( 2,761 ) 2,761 427,207 - - - 429,968

CAPEX LIFE ASSURANCE COMPANY - - 200 200 - - - 200 - 200 42,471 - - - 42,671

CIC LIFE ASSURANCE COMPANY - - - - 72,391 - 72,391 ( 72,391 ) - ( 72,391 ) - - - - ( 72,391 )

CORPORATE INSURANCE COMPANY - - 38,157 38,157 - - - 38,157 - 38,157 65,761 - - - 103,918

FIRST ASSURANCE COMPANY - - - - - - - - 6,382 ( 6,382 ) - ( 6,382 ) - - -

GA LIFE ASSURANCE COMPANY - 6,921 - 6,921 - - - 6,921 2,076 4,844 - - - - 4,844

GEMINIA INSURANCE COMPANY - - - - - - - - - - - - - - -

ICEA LION LIFE ASSURANCE 135,520 68,868 - 204,388 - 105 105 204,282 20,442 183,840 1,800,989 - - - 1,984,830

JUBILEE INSURANCE COMPANY 422,003 - - 422,003 - - - 422,003 126,601 295,402 - - - - 295,402

KENINDIA ASSURANCE COMPANY 30,000 - - 30,000 - - - 30,000 - 30,000 81,555 - - - 111,555

KENYA ORIENT LIFE ASSURANCE - - - - 116,861 - 116,861 ( 116,861 ) - ( 116,861 ) ( 19,377 ) - - - ( 136,238 )

LIBERTY LIFE ASSURANCE COMPANY - - 235,312 235,312 - - - 235,312 23,734 211,578 ( 341,630 ) 211,923 - - ( 341,975 )

MADISON INSURANCE COMPANY 99,390 - - 99,390 - - - 99,390 29,817 69,573 62,000 69,573 - - 62,000

METROPOLITAN INSURANCE - - - - 14,705 - 14,705 ( 14,705 ) 7,026 ( 21,731 ) ( 842,442 ) - - - ( 864,173 )

OLD MUTUAL LIFE ASSURANCE - 100,833 - 100,833 280,505 3,485 283,990 ( 183,156 ) - ( 183,156 ) ( 997,673 ) - - - ( 1,180,830 )

PIONEER ASSURANCE COMPANY - - - - 76,892 - 76,892 ( 76,892 ) - ( 76,892 ) 301,690 - - - 224,798

PRUDENTIAL LIFE ASSURANCE - - - - 163,183 - 163,183 ( 163,183 ) 15,836 ( 179,020 ) ( 446,598 ) - - - ( 625,618 )

SAHAM ASSURANCE - - - - - - - - - - 893 - - - 893

SANLAM LIFE ASSURANCE 117,501 - - 117,501 - - - 117,501 ( 47,503 ) 165,003 ( 734,710 ) 117,501 - - ( 687,207 )

TAKAFUL INSURANCE OF AFRICA 34,936 - - 34,936 - 18,560 18,560 16,376 - 16,376 12,136 - - - 28,512

THE KENYAN ALLIANCE INSURANCE - - - - - - - - - - 18,282 - - - 18,282

THE MONARCH INSURANCE - - - - 14,883 - 14,883 ( 14,883 ) - ( 14,883 ) 37,927 - - - 23,044

UAP LIFE ASSURANCE COMPANY - - 47,192 47,192 - - - 47,192 - 47,192 - - - - 47,192

TOTAL 3,409,535 218,209 308,964 3,936,707 1,108,179 31,798 1,139,977 2,796,729 958,731 1,837,996 ( 531,519 ) 392,615 - - 913,863

CONTINENTAL REINSURANCE 39,503 - - 39,503 - - - 39,503 11,851 27,652 86,717 919 - - 113,450

EAST AFRICAN REINSURANCE 75,208 74,244 1,272 150,723 - - 1,331 149,392 44,030 105,362 366,086 64,487 - - 406,961

KENYA REINSURANCE CORPORATION 338,048 - - 338,048 - - - 338,048 87,226 250,821 2,994,521 - - - 3,245,343

TOTAL 452,759 74,244 1,272 528,274 - - 1,331 526,943 143,107 383,835 3,447,324 65,406 - - 3,765,754

GRAND TOTAL 3,862,294 292,453 310,236 4,464,981 1,108,179 31,798 1,141,308 3,323,672 1,101,838 2,221,831 2,915,805 458,021 - - 4,679,617

INSURERS

APPENDIX 2: SUMMARY OF LONG TERM INSURANCE BUSINESS PROFIT & LOSS ACCOUNTS FOR THE PERIOD ENDED 30.06.2016

REINSURERS



CompanyLife

Assurances Annuities

Personal

Pensions Group Life Group Credit

Permanent

Health

Unit Linked &

Linked

Investments

Non-linked

Investments

Deposit

Administration Total

Market

Share (%)

APA LIFE ASSURANCE COMPANY 28,489 9,212 42,134 331,920 49,240 - - - 165,315 626,310 1.92

BARCLAYS LIFE 45,723 - - 40,080 419,132 - - - - 504,935 1.55

BRITAM LIFE ASSURANCE 3,595,305 55,763 - 586,546 662,341 - - - 2,308,708 7,208,663 22.11

CANNON ASSURANCE COMPANY 54,341 - - 3,296 7,101 - - - - 64,738 0.20

CAPEX LIFE ASSURANCE COMPANY 3,760 - - 18,823 - - - - - 22,583 0.07

CIC LIFE ASSURANCE COMPANY 364,231 187,102 - 241,728 1,290,999 - - - 144,518 2,228,579 6.84

CORPORATE INSURANCE COMPANY 153,543 - - - - - - - - 153,543 0.47

FIRST ASSURANCE COMPANY - - - 41,561 9,214 - - - - 50,775 0.16

GA LIFE ASSURANCE COMPANY - - - 20,673 1,154 - - - 967,182 989,009 3.03

GEMINIA INSURANCE COMPANY 15,586 - - 26,374 - - - - - 41,960 0.13

ICEA LION LIFE ASSURANCE 969,727 606,719 862,415 293,656 131,529 - 27,837 - 1,558,532 4,450,415 13.65

JUBILEE INSURANCE COMPANY 1,240,830 139,507 690,946 695,001 - - - - 2,034,637 4,800,921 14.73

KENINDIA ASSURANCE COMPANY 448,500 32,584 - 47,062 - - - - 1,027,463 1,555,610 4.77

KENYA ORIENT LIFE ASSURANCE 28,102 - - 31,949 122,531 - - - - 182,582 0.56

LIBERTY LIFE ASSURANCE COMPANY 205,354 4,808 - 241,058 142,515 - 925,621 - 621,772 2,141,127 6.57

MADISON INSURANCE COMPANY 453,979 506,870 34,961 22,969 30,788 - 17,870 - 84,422 1,151,859 3.53

METROPOLITAN INSURANCE 5,662 506,870 - 137,416 334 - 13,894 - - 157,307 0.48

OLD MUTUAL LIFE ASSURANCE 287,100 - - 115,733 - - 550,231 - - 953,064 2.92

PIONEER ASSURANCE COMPANY 298,842 - - 742,788 - - - - 34,082 1,075,712 3.30

PRUDENTIAL LIFE ASSURANCE 72,061 - - 5,756 1,714 - - - - 79,530 0.24

SAHAM ASSURANCE 25,945 - - 48,071 187 - - - 72,389 146,592 0.45

SANLAM LIFE ASSURANCE 733,884 542,108 - 176,785 294,006 - 539,646 - 125,714 2,412,144 7.40

TAKAFUL INSURANCE OF AFRICA - - - 35,284 2,417 - - - - 37,702 0.12

THE KENYAN ALLIANCE INSURANCE 6,084 116,213 13,950 100,225 995 - - 895 90,195 328,559 1.01

THE MONARCH INSURANCE 8,298 - - 6,328 - - - - - 14,626 0.04

UAP LIFE ASSURANCE COMPANY 185,556 - - 534,681 - - 46,921 - 455,235 1,222,394 3.75

TOTAL 9,230,902 2,707,756 1,644,406 4,545,763 3,166,197 - 2,122,020 895 9,690,164 32,601,239 100.00

CONTINENTAL REINSURANCE 724 - - 42,000 - - - - - 42,725 3.03

EAST AFRICAN REINSURANCE 21,516 - - 507,765 - - - - - 529,281 37.56

KENYA REINSURANCE CORPORATION 83,731 - - 753,583 - - - - - 837,314 59.41

TOTAL 105,971 - - 1,303,348 - - - - - 1,409,320 100.00

APPENDIX 3: SUMMARY OF LONG TERM INSURANCE BUSINESS GROSS PREMIUM INCOME FOR THE PERIOD ENDED 30.06.2016

REINSURERS


INSURERS


3

CompanyLife

Assurances Annuities

Personal

Pensions Group Life

Group

Credit

Permanent

Health

Unit Linked &

Linked

Investments

Non-linked

Investments

Deposit

Administration Total

APA LIFE ASSURANCE COMPANY 0.31 0.34 2.56 7.30 1.56 0 - - 1.71 1.92

BARCLAYS LIFE 0.50 - - 0.88 13.24 0 - - - 1.55

BRITAM LIFE ASSURANCE 38.95 2.06 - 12.90 20.92 0 - - 23.83 22.11

CANNON ASSURANCE COMPANY 0.59 - - 0.07 0.22 0 - - - 0.20

CAPEX LIFE ASSURANCE COMPANY 0.04 - - 0.41 - 0 - - - 0.07

CIC LIFE ASSURANCE COMPANY 3.95 6.91 - 5.32 40.77 0 - - 1.49 6.84

CORPORATE INSURANCE COMPANY 1.66 - - - - 0 - - - 0.47

FIRST ASSURANCE COMPANY - - - 0.91 0.29 0 - - - 0.16

GA LIFE ASSURANCE COMPANY 25,729.00 - - 0.45 0.04 0 - - 9.98 3.03

GEMINIA INSURANCE COMPANY 0.17 - - 0.58 - 0 - - - 0.13

ICEA LION LIFE ASSURANCE 10.51 22.41 52.45 6.46 4.15 0 1.31 - 16.08 13.65

JUBILEE INSURANCE COMPANY 13.44 5.15 42.02 15.29 - 0 - - 21.00 14.73

KENINDIA ASSURANCE COMPANY 4.86 1.20 - 1.04 - 0 - - 10.60 4.77

KENYA ORIENT LIFE ASSURANCE 0.30 - - 0.70 3.87 0 - - - 0.56

LIBERTY LIFE ASSURANCE COMPANY 2.22 0.18 - 5.30 4.50 0 43.62 - 6.42 6.57

MADISON INSURANCE COMPANY 4.92 18.72 2.13 0.51 0.97 0 0.84 - 0.87 3.53

METROPOLITAN INSURANCE 0.06 18.72 - 3.02 0.01 0 0.65 - - 0.48

OLD MUTUAL LIFE ASSURANCE 3.11 - - 2.55 - 0 25.93 - - 2.92

PIONEER ASSURANCE COMPANY 3.24 - - 16.34 - 0 - - 0.35 3.30

PRUDENTIAL LIFE ASSURANCE 0.78 - - 0.13 0.05 0 - - - 0.24

SAHAM ASSURANCE 0.28 - - 1.06 0.01 0 - - 0.75 0.45

SANLAM LIFE ASSURANCE 7.95 20.02 - 3.89 9.29 0 25.43 - 1.30 7.40

TAKAFUL INSURANCE OF AFRICA - - - 0.78 0.08 0 - - - 0.12

THE KENYAN ALLIANCE INSURANCE 0.07 4.29 0.85 2.20 0.03 0 - 100.00 0.93 1.01

THE MONARCH INSURANCE 0.09 - - 0.14 - 0 - - - 0.04

UAP LIFE ASSURANCE COMPANY 2.01 - - 11.76 - 0 2.21 - 4.70 3.75

TOTAL 100.00 100.00 100.00 100.00 100.00 0 100.00 100.00 100.00 100.00

CONTINENTAL REINSURANCE 0.68 0 0 3.22 0 0 0 0 0 3.03

EAST AFRICAN REINSURANCE 20.30 0 0 38.96 0 0 0 0 0 37.56

KENYA REINSURANCE CORPORATION 79.01 0 0 57.82 0 0 0 0 0 59.41

TOTAL 100.00 0 0 100.00 0 0 0 0 0 100.00

APPENDIX 4: SUMMARY OF LONG TERM INSURANCE BUSINESS MARKET SHARE PER CLASS FOR THE PERIOD ENDED 30.06.2016

REINSURERS

INSURERS

4


Company Life Fund BF

Gross

Premium Net Premium

Other (Fee)

Income Total Benefits Claims Surrenders Bonuses Paid

Annuities

Paid

Net

Commisions

Expense of

Management

Investment

Income

Investment

Expenses

Transfer To

(From) P & L Life Fund CF

APA LIFE ASSURANCE COMPANY 196,922 37,701 37,635 - 42,055 12,988 - - 29,067 9,878 40,166 35,815 885 - 177,387

BARCLAYS LIFE - 45,723 45,723 - 838 838 - - - 8,840 111,309 - - - (75,265)

BRITAM LIFE ASSURANCE 23,808,192 3,651,068 3,621,258 - 1,533,791 405,597 462,214 595,159 70,821 843,982 1,052,410 798,960 5,915 - 24,792,313

CANNON ASSURANCE COMPANY 899,976 54,341 53,774 - 38,593 38,593 - - - 4,198 45,499 34,016 - - 899,475

CAPEX LIFE ASSURANCE COMPANY 94,252 3,760 3,760 - 1,979 1,979 - - - 1,008 21,199 2,237 - - 76,062

CIC LIFE ASSURANCE COMPANY 185,661 551,333 549,635 - 252,800 252,800 - - - 96,212 47,803 (1,263) - - 337,218

CORPORATE INSURANCE COMPANY 546,535 153,543 151,342 - 83,120 70,263 9,153 3,704 - 37,581 21,561 29,873 - - 585,488

FIRST ASSURANCE COMPANY - - - - - - - - - - - - - - -

GA LIFE ASSURANCE COMPANY - - - - - - - - - - - - - - -

GEMINIA INSURANCE COMPANY 286,542 15,586 15,067 - 5,996 1,482 4,514 - - 2,540 831 8,942 - - 301,184

ICEA LION LIFE ASSURANCE 10,907,993 1,604,283 1,586,941 - 618,053 293,520 - - 324,533 209,268 266,734 655,908 - 106,544 11,950,246

JUBILEE INSURANCE COMPANY 10,227,318 1,380,337 1,377,828 - 714,174 287,519 117,159 - 309,496 365,061 232,945 449,203 5,207 - 10,736,962

KENINDIA ASSURANCE COMPANY 4,866,999 481,084 481,084 - 215,618 215,618 - - - 35,499 96,130 158,847 - 15,000 5,144,683

KENYA ORIENT LIFE ASSURANCE 1,326 28,102 28,078 - 193 193 - - - 6,428 11,628 3,653 - - 14,809

LIBERTY LIFE ASSURANCE COMPANY 9,541,459 1,135,783 1,132,574 - 620,132 620,132 - - - 89,946 385,782 605,857 - - 10,184,028

MADISON INSURANCE COMPANY 4,563,699 978,719 978,719 - 287,192 287,192 - - - 78,932 210,740 101,323 - - 5,066,877

METROPOLITAN INSURANCE 258,288 19,556 19,482 117,844 13,722 4,398 9,324 - - 193 2,070 777 - 11,216 369,190

OLD MUTUAL LIFE ASSURANCE 9,452,988 837,331 806,977 207,052 960,212 227,940 731,797 - 475 99,812 460,145 287,252 42,981 (320,089) 9,511,207

PIONEER ASSURANCE COMPANY 544,998 298,842 298,838 - 86,800 77,925 8,875 - - 71,002 34,328 9,346 - 22,597 638,455

PRUDENTIAL LIFE ASSURANCE (373,749) 72,061 72,061 - 45,494 42,582 2,912 - - 28,439 153,418 10,000 167 - (519,207)

SAHAM ASSURANCE 197,828 25,945 24,193 - 12,981 12,913 - - 68 3,448 9,112 34,368 - - 230,847

SANLAM LIFE ASSURANCE 14,055,667 1,815,638 1,800,396 - 1,307,824 1,228,625 79,199 - - 273,916 311,578 1,077,776 33,358 - 15,007,161

TAKAFUL INSURANCE OF AFRICA - - - - - - - - - - - - - - -

THE KENYAN ALLIANCE INSURANCE 564,890 123,192 123,192 - 12,998 12,998 - - - 1,018 13,726 25,787 - - 686,126

THE MONARCH INSURANCE 7,585 8,298 3,740 - - - - - - 1,299 9,474 325 - - 878

UAP LIFE ASSURANCE COMPANY 2,464,932 232,477 232,477 - 195,888 65,723 58,936 - 71,229 31,654 174,151 192,054 9,889 - 2,477,881

TOTAL 93,300,301 13,554,703 13,444,774 324,896 7,050,453 4,161,818 1,484,083 598,863 805,689 2,300,154 3,712,739 4,521,056 98,402 (164,732) 98,594,005

CONTINENTAL REINSURANCE 1,017 724 616 - 187 187 - - - 196 95 562 11 - 1,706

EAST AFRICAN REINSURANCE - 21,516 19,639 - 4,154 4,154 - - - 4,922 1,712 - - 8,852 -

KENYA REINSURANCE CORPORATION 1,195,313 83,731 80,227 - 37,923 37,923 - - - 28,340 9,538 29,377 - - 1,229,118

TOTAL 1,196,330 105,971 100,482 - 42,264 42,264 - - - 33,458 11,345 29,939 11 8,852 1,230,824

REINSURERS

APPENDIX 5: SUMMARY OF ORDINARY LIFE BUSINESS REVENUE ACCOUNTS FOR THE PERIOD ENDED 30.06.2016


INSURERS

5


6

Company Life Fund BF

Gross

Premium Net Premium

Other (Fee)

Income Total Benefits Claims Surrenders Bonuses Paid

Annuities

Paid

Net

Commisions

Expense of

Management

Investment

Income

Investment

Expenses

Transfer To


APA LIFE ASSURANCE COMPANY 540,834 381,160 174,359 - 102,457 102,457 - - - 7,729 46,128 18,723 463 - 577,140

BARCLAYS LIFE - 459,212 459,212 - 79,423 79,423 - - - 152,319 55,156 - - - 172,314

BRITAM LIFE ASSURANCE 1,676,108 1,248,887 1,004,099 - 362,644 362,644 - - - 38,699 152,086 94,714 5,280 - 2,216,211

CANNON ASSURANCE COMPANY 97,574 10,397 4,515 - 2,454 2,454 - - - (437) 1,950 1,291 - - 99,414

CAPEX LIFE ASSURANCE COMPANY - 18,823 18,823 - - - - - - - - - - - 18,823

CIC LIFE ASSURANCE COMPANY 880,893 1,532,727 973,915 - 1,084,053 1,084,053 - - - (26,223) 427,741 148,769 - - 518,006

CORPORATE INSURANCE COMPANY 10,038 - (796) - - - - - - - - - - - 9,242

FIRST ASSURANCE COMPANY 307,139 50,775 14,618 - 6,274 6,274 - - - (4,224) 6,041 13,653 - - 327,320

GA LIFE ASSURANCE COMPANY 1,181 21,827 1,033 - 300 300 - - - (4,945) 5,502 1,280 - - 2,636

GEMINIA INSURANCE COMPANY 138,095 26,374 16,256 - 33,358 5,147 28,211 - - (363) 1,407 15,129 - - 135,077

ICEA LION LIFE ASSURANCE 380,023 425,185 387,554 - 159,802 159,802 - - - 23,281 103,370 23,754 - 9,616 495,260

JUBILEE INSURANCE COMPANY 214,173 695,001 396,717 - 309,429 309,429 - - - (31,451) 73,900 9,681 173 55,924 212,596

KENINDIA ASSURANCE COMPANY 86,607 47,062 26,184 - 9,398 9,398 - - - 6,168 996 5,827 - 15,000 87,057

KENYA ORIENT LIFE ASSURANCE 282,019 154,480 122,377 - 25,652 25,652 - - - (1,224) 63,920 20,097 - - 336,145

LIBERTY LIFE ASSURANCE COMPANY 405,446 383,573 255,589 - 180,523 180,523 - - - 9,697 69,751 41,588 - - 442,652

MADISON INSURANCE COMPANY 55,065 53,757 38,589 - 21,286 21,286 - - - 4,873 34,846 1,183 - - 33,832

METROPOLITAN INSURANCE 332,246 137,750 107,821 (112,331) 41,867 41,867 - - - 18,333 101,431 38,075 - (25,922) 230,099

OLD MUTUAL LIFE ASSURANCE 74,001 115,733 57,353 - 34,513 34,513 - - - 9,257 60,390 25,085 283 39,998 11,997

PIONEER ASSURANCE COMPANY 1,396,187 742,788 449,170 - 947,176 947,176 - - - 24,010 137,312 23,230 - 54,295 705,795

PRUDENTIAL LIFE ASSURANCE (10,771) 7,470 1,904 - - - - - - - 16,124 1,051 17 - (23,958)

SAHAM ASSURANCE 27,579 48,258 22,701 - 5,324 5,324 - - - 3,855 14,300 5,918 - - 32,721

SANLAM LIFE ASSURANCE 2,500,137 470,791 362,358 - 359,141 359,141 - - - 23,295 44,813 78,864 - - 2,514,111

TAKAFUL INSURANCE OF AFRICA - 37,701 36,704 - - - - - - - 1,769 - - - 34,936

THE KENYAN ALLIANCE INSURANCE 204,384 101,220 17,471 - (1,533) (1,533) - - - (14,078) 11,278 21,188 - - 247,377

THE MONARCH INSURANCE 30,341 6,328 6,291 - 4,250 4,250 - - - (86) 15,260 5,263 - - 22,471

UAP LIFE ASSURANCE COMPANY 2,110,282 534,681 329,571 - 193,780 193,780 - - - 13,207 95,977 80,346 (15,149) - 2,232,384

TOTAL 11,739,581 7,711,960 5,284,388 -112,331 3,961,571 3,933,360 28,211 - - 251,692 1,541,448 674,709 - 8,933 148,911 11,691,658

CONTINENTAL REINSURANCE 64,643 42,000 35,700 - 16,714 10,241 - - - 8,993 4,649 27,547 550 - 103,458



TOTAL 5,409,145 1,303,348 1,154,888 - 588,301 539,943 - - - 365,358 131,567 291,943 550 66,356 5,752,203

APPENDIX 6: SUMMARY OF GROUP LIFE BUSINESS REVENUE ACCOUNTS FOR THE PERIOD ENDED 30.06.2016

REINSURERS


INSURERS


7

Company Life Fund BF Gross Premium Net Premium

Other (Fee)

Income Total Benefits Claims Surrenders

Bonuses

Paid

Annuities

Paid

Net

Commisions

Expense of

Management

Investment

Income

Investment

Expenses

Transfer To


APA LIFE ASSURANCE COMPANY 2,248,279 207,449 207,449 - 187,343 187,343 - - - 2,643 6,135 101,328 2,505 - 2,358,430

BARCLAYS LIFE - - - - - - - - - - - - - - -

BRITAM LIFE ASSURANCE 14,964,028 2,308,708 2,308,708 - - - - - - 36,610 64,421 984,522 13,955 - 18,142,272

CANNON ASSURANCE COMPANY 4,356 - - - 630 630 - - - - - - - - 3,725

CAPEX LIFE ASSURANCE COMPANY - - - - - - - - - - - - - - -

CIC LIFE ASSURANCE COMPANY ( 26,743 ) 144,518 144,518 - - - - - - ( 779 ) 6,358 - - - 112,196

CORPORATE INSURANCE COMPANY 6,445 - - - - - - - - - - - - - 6,445

FIRST ASSURANCE COMPANY - - - - - - - - - - - - - - -

GA LIFE ASSURANCE COMPANY 2,316,107 967,182 967,182 - 88,190 88,190 - - - 1,011 8,281 154,239 - - 3,340,047

GEMINIA INSURANCE COMPANY - - - - - - - - - - - - - - -

ICEA LION LIFE ASSURANCE 30,417,618 2,420,947 2,420,947 - 2,012,239 - 2,012,239 - - 25,480 96,718 1,587,597 - 77,440 32,214,285

JUBILEE INSURANCE COMPANY 30,162,584 2,725,583 2,725,583 - 1,833,972 - 1,833,972 - - 15,524 102,171 1,581,864 18,632 366,079 32,133,652

KENINDIA ASSURANCE COMPANY 16,990,526 1,027,463 1,027,463 - 1,685,114 1,685,114 - - - 13,360 38,838 1,143,130 - - 17,423,807

KENYA ORIENT LIFE ASSURANCE - - - - - - - - - - - - - - -

LIBERTY LIFE ASSURANCE COMPANY 11,504,349 621,772 621,772 - 1,364,760 1,364,760 - - - 5,176 173,421 569,056 - - 11,151,821

MADISON INSURANCE COMPANY 2,919,741 119,383 119,383 - - - - - - 2,373 9,126 35,223 - - 3,062,847

METROPOLITAN INSURANCE - - - - - - - - - - - - - - -

OLD MUTUAL LIFE ASSURANCE 13,678 - - - - - - - - - - 130 83 ( 414 ) 14,140

PIONEER ASSURANCE COMPANY 81,665 34,082 34,082 - - - - - - - - - - - 115,746

PRUDENTIAL LIFE ASSURANCE - - - - - - - - - - - - - - -

SAHAM ASSURANCE 743,400 72,389 72,389 - 80,570 80,570 - - - 2 12,606 33,142 - - 755,752

SANLAM LIFE ASSURANCE 1,892,496 125,714 125,714 - 217,712 217,712 - - - 449 13,256 106,888 5,292 - 1,888,390

TAKAFUL INSURANCE OF AFRICA - - - - - - - - - - - - - - -

THE KENYAN ALLIANCE INSURANCE 427,609 104,145 104,145 - 55,188 55,188 - - - 2,781 11,603 21,800 - - 483,982

THE MONARCH INSURANCE - - - - - - - - - - 1,215 910 - - ( 305 )

UAP LIFE ASSURANCE COMPANY 4,248,722 455,235 455,235 - 230,431 230,431 - - - - - 124,948 5,260 - 4,593,214

TOTAL 118,914,860 11,334,570 11,334,570 - 7,756,149 3,909,938 3,846,211 - - 104,630 544,149 6,444,777 45,727 443,105 127,800,446

CONTINENTAL REINSURANCE - - - - - - - - - - - - - - -

EAST AFRICAN REINSURANCE - - - - - - - - - - - - - - -

KENYA REINSURANCE CORPORATION - - - - - - - - - - - - - - -

TOTAL - - - - - - - - - - - - - - -

APPENDIX 7: SUMMARY OF PENSIONS BUSINESS REVENUE ACCOUNTS FOR THE PERIOD ENDED 30.06.2016

REINSURERS


INSURERS


Company Life Fund BF Gross Premium Net Premium Other (Fee) Income Total Benefits Claims Surrenders Bonuses Paid Annuities Paid Net Commisions

Expense of

Management

Investment

Income

Investment

Expenses

Transfer To


APA LIFE ASSURANCE COMPANY 2,986,035 626,310 419,443 - 331,855 302,788 - - 29,067 20,250 92,429 155,866 3,853 - 3,112,957

BARCLAYS LIFE - 504,935 504,935 - 80,261 80,261 - - - 161,159 166,465 - - - 97,049

BRITAM LIFE ASSURANCE 40,448,328 7,208,663 6,934,065 - 1,896,435 768,241 462,214 595,159 70,821 919,291 1,268,917 1,878,196 25,150 - 45,150,796

CANNON ASSURANCE COMPANY 1,001,906 64,738 58,289 - 41,677 41,677 - - - 3,761 47,449 35,307 - - 1,002,614

CAPEX LIFE ASSURANCE COMPANY 94,252 22,583 22,583 - 1,979 1,979 - - - 1,008 21,199 2,237 - - 94,885

CIC LIFE ASSURANCE COMPANY 1,039,811 2,228,578 1,668,068 - 1,336,853 1,336,853 - - - 69,210 481,902 147,506 - - 967,420

CORPORATE INSURANCE COMPANY 563,018 153,543 150,546 - 83,120 70,263 9,153 3,704 - 37,581 21,561 29,873 - - 601,175

FIRST ASSURANCE COMPANY 307,139 50,775 14,618 - 6,274 6,274 - - - ( 4,224 ) 6,041 13,653 - - 327,320

GA LIFE ASSURANCE COMPANY 2,317,288 989,009 968,215 - 88,490 88,490 - - - ( 3,934 ) 13,783 155,519 - - 3,342,683

GEMINIA INSURANCE COMPANY 424,637 41,960 31,323 - 39,354 6,629 32,725 - - 2,177 2,238 24,071 - - 436,261

ICEA LION LIFE ASSURANCE 41,705,634 4,450,415 4,395,442 - 2,790,094 453,322 2,012,239 - 324,533 258,029 466,822 2,267,259 - 193,600 44,659,791

JUBILEE INSURANCE COMPANY 40,604,075 4,800,921 4,500,128 - 2,857,575 596,948 1,951,131 - 309,496 349,134 409,016 2,040,748 24,012 422,003 43,083,210

KENINDIA ASSURANCE COMPANY 21,944,132 1,555,609 1,534,731 - 1,910,130 1,910,130 - - - 55,027 135,964 1,307,804 - 30,000 22,655,547

KENYA ORIENT LIFE ASSURANCE 283,345 182,582 150,455 - 25,845 25,845 - - - 5,204 75,548 23,750 - - 350,954

LIBERTY LIFE ASSURANCE COMPANY 21,451,254 2,141,128 2,009,935 - 2,165,415 2,165,415 - - - 104,819 628,954 1,216,501 - - 21,778,501

MADISON INSURANCE COMPANY 7,538,505 1,151,859 1,136,691 - 308,478 308,478 - - - 86,178 254,712 137,729 - - 8,163,556

METROPOLITAN INSURANCE 590,534 157,306 127,303 5,513 55,589 46,265 9,324 - - 18,526 103,501 38,852 - ( 14,706 ) 599,289

OLD MUTUAL LIFE ASSURANCE 9,540,667 953,064 864,330 207,052 994,725 262,453 731,797 - 475 109,069 520,535 312,467 43,347 ( 280,505 ) 9,537,344

PIONEER ASSURANCE COMPANY 2,022,850 1,075,712 782,090 - 1,033,976 1,025,101 8,875 - - 95,012 171,640 32,576 - 76,892 1,459,996

PRUDENTIAL LIFE ASSURANCE ( 384,520 ) 79,531 73,965 - 45,494 42,582 2,912 - - 28,439 169,542 11,051 184 - ( 543,165 )

SAHAM ASSURANCE 968,807 146,592 119,283 - 98,875 98,807 - - 68 7,305 36,018 73,428 - - 1,019,320

SANLAM LIFE ASSURANCE 18,448,300 2,412,143 2,288,468 - 1,884,677 1,805,478 79,199 - - 297,660 369,647 1,263,528 38,650 - 19,409,662

TAKAFUL INSURANCE OF AFRICA - 37,701 36,704 - - - - - - - 1,769 - - - 34,936

THE KENYAN ALLIANCE INSURANCE 1,196,883 328,557 244,808 - 66,653 66,653 - - - ( 10,279 ) 36,607 68,775 - - 1,417,485

THE MONARCH INSURANCE 37,926 14,626 10,031 - 4,250 4,250 - - - 1,213 25,949 6,498 - - 23,044

UAP LIFE ASSURANCE COMPANY 8,823,936 1,222,393 1,017,283 - 620,099 489,934 58,936 - 71,229 44,861 270,128 397,348 - - 9,303,479

TOTAL 223,954,742 32,601,233 30,063,732 212,565 18,768,173 12,005,116 5,358,505 598,863 805,689 2,656,476 5,798,336 11,640,542 135,196 427,284 238,086,109

CONTINENTAL REINSURANCE 65,660 42,724 36,316 - 10,428 10,428 - - - 9,189 4,744 28,109 561 - 105,164



TOTAL 6,605,475 1,409,319 1,255,370 - 582,207 582,207 - - - 398,816 142,912 321,882 561 75,208 6,983,027

APPENDIX 8: SUMMARY OF COMBINED LONG TERM BUSINESS REVENUE ACCOUNTS FOR THE PERIOD ENDED 30.06.2016

REINSURERS


INSURERS


8

AAR INSURANCE KENYA - - 1,308 - 1,925 22 - - - 14,679 690 16,889 2,500,678 5,362 2,541,552 3.98

AFRICAN MERCHANT ASSURANCE - 24,927 1,872 112,398 8,590 4,303 415,293 384,436 - 55,435 17,786 86,643 - 45,524 1,157,209 1.81

AIG INSURANCE COMPANY 10,271 39,972 46,931 472,264 413,752 21,272 600,597 190,092 - 187,011 292,315 54,673 - 512 2,329,662 3.65

ALLIANZ INSURANCE COMPANY - 7,486 14 867 173 - 344 - - - - - - - 8,883 0.01

APA INSURANCE COMPANY 2,957 97,992 40,225 309,537 53,626 126,194 857,457 1,178,903 - 50,381 100,359 416,708 1,687,886 167,331 5,089,555 7.96

BRITAM GENERAL INSURANCE - 150,445 69,187 244,657 62,169 207,331 526,644 704,187 - 258,734 132,502 140,848 1,018,857 17,321 3,532,882 5.53

CANNON ASSURANCE COMPANY - 49,971 10,463 45,410 12,977 14,365 203,249 285,172 - 39,231 27,354 63,513 - 36,994 788,699 1.23

CIC GENERAL INSURANCE COMPANY - 67,601 58,298 210,850 52,284 72,743 1,047,875 1,279,912 - 166,488 280,789 131,216 620,271 141,570 4,129,896 6.46

CORPORATE INSURANCE COMPANY - 11,545 8,725 11,867 1,425 15,205 46,285 33,060 - 3,095 18,781 11,450 - 3,428 164,867 0.26

DIRECTLINE ASSURANCE COMPANY - - - - - - 40,921 12,293 1,457,631 - - - - - 1,510,845 2.36

FIDELITY SHIELD INSURANCE 60 39,714 16,440 126,090 6,997 48,443 201,049 322,028 8,902 11,266 72,534 97,673 - 30,677 981,873 1.54

FIRST ASSURANCE COMPANY 1,293 187,563 29,022 255,205 50,844 48,335 308,177 344,530 - 87,723 67,730 95,283 681,195 84,652 2,241,552 3.51

GA INSURANCE COMPANY 31,848 180,829 57,220 578,615 47,508 121,312 301,981 321,576 51,813 47,040 211,651 318,250 647,790 85,367 3,002,799 4.70

GEMINIA INSURANCE COMPANY - 29,707 24,956 109,167 12,902 73,870 266,580 288,420 - 25,187 79,819 124,184 - 25,677 1,060,466 1.66

HERITAGE INSURANCE COMPANY 395 47,406 68,109 272,708 137,849 35,975 396,966 360,394 19,126 197,171 71,880 217,440 927,141 120,669 2,873,228 4.50

ICEA LION GENERAL INSURANCE 546,697 76,462 81,551 570,936 76,553 130,134 802,072 467,753 - 167,409 131,369 262,152 372,237 34,310 3,719,635 5.82

INTRA-AFRICA ASSURANCE - 28,115 14,147 58,731 3,735 32,546 132,718 102,624 - 15,801 32,210 79,561 - 24,070 524,258 0.82

INVESCO ASSURANCE COMPANY - 211 137 132 ( 2 ) 385 87,282 45,741 1,014,399 1,007 85 383 - ( 3 ) 1,149,757 1.80

JUBILEE INSURANCE COMPANY 64,181 151,658 34,222 477,706 201,123 63,959 830,336 346,500 - 382,413 103,789 69,095 4,515,340 38,148 7,278,470 11.39

KENINDIA ASSURANCE COMPANY - 96,743 32,723 579,611 29,333 150,653 174,150 347,747 - 27,197 200,595 318,744 49,396 11,821 2,018,714 3.16

KENYA ORIENT INSURANCE - 19,643 14,288 51,954 19,929 9,412 569,411 606,011 13,092 11,627 38,816 50,078 - 29,629 1,433,892 2.24

MADISON INSURANCE COMPANY - 11,249 3,989 21,934 51,817 3,407 281,408 508,106 - 14,915 10,260 15,590 388,772 100,582 1,412,029 2.21

MAYFAIR INSURANCE COMPANY 16,037 94,483 28,452 350,871 12,905 100,790 147,410 144,155 - 21,644 78,186 213,274 - 44,170 1,252,379 1.96

OCCIDENTAL INSURANCE COMPANY - 74,833 28,914 171,320 5,021 91,144 185,441 236,658 - 22,742 90,843 162,268 - 26,038 1,095,223 1.71

PACIS INSURANCE COMPANY - 9,843 8,206 49,121 10,313 507 178,253 175,870 - 47,170 24,605 39,325 71,988 1,699 616,902 0.97

PHOENIX OF EAST AFRICA 70,782 11,510 3,861 48,065 19,228 3,700 43,495 22,388 - 3,301 3,763 8,741 - 11,772 250,605 0.39

RESOLUTION INSURANCE COMPANY - - 757 17,813 55 - 24,444 14,186 - 32,294 1,814 28,501 1,892,925 7,074 2,019,864 3.16

SAHAM INSURANCE COMPANY - 70,798 4,972 58,375 15,972 4,867 82,000 54,364 28,926 4,922 11,261 32,680 142,514 167,815 679,466 1.06

SANLAM GENERAL INSURANCE LIMITED - 3,760 2,846 8,521 21,597 4,220 126,418 109,097 13,384 6,494 3,751 9,639 89,173 9,185 408,084 0.64

TAKAFUL INSURANCE OF AFRICA - 2,308 5,012 12,810 1,520 3,313 75,374 118,386 - 21,929 33,748 24,927 222,616 1,478 523,421 0.82

TAUSI ASSURANCE COMPANY - 24,307 23,512 141,189 8,586 58,085 86,085 49,214 - 8,340 74,284 69,509 7,852 15,185 566,148 0.89

THE KENYAN ALLIANCE INSURANCE - 4,939 24,103 49,327 1,994 6,327 238,702 148,421 - 5,793 11,969 11,451 - 5 503,030 0.79

THE MONARCH INSURANCE - 5,979 1,462 30,991 3,207 1,800 202,045 136,995 - 18,377 3,167 8,251 - 30,750 443,026 0.69

TRIDENT INSURANCE COMPANY 17,878 16,778 5,489 103,917 2,608 14,498 97,784 117,968 5,859 11,111 34,307 31,492 79,165 15,994 554,847 0.87

UAP INSURANCE COMPANY - 114,730 59,151 294,843 76,402 39,660 649,537 544,402 - 70,005 198,445 169,819 3,020,388 90,991 5,328,371 8.34

XPLICO INSURANCE COMPANY 2,274 7,521 242 142 1,174 3,047 342,375 133,451 - 277 1,751 4,247 191,472 24,767 712,741 1.12

TOTAL 764,673 1,761,028 810,806 5,847,944 1,426,091 1,511,824 10,570,158 10,135,040 2,613,132 2,038,209 2,463,208 3,384,497 19,127,656 1,450,564 63,904,830 100

CONTINENTAL REINSURANCE 8,676 8,718 - 351,414 7,765 18,847 - 50,391 - 3,235 - 453 154,244 77,720 681,462 8.42

EAST AFRICAN REINSURANCE ( 1,646 ) 112,514 - 645,096 5,401 113,603 - 156,488 - 4,507 - 38 213,791 168,690 1,418,482 17.52

KENYA REINSURANCE CORPORATION 28,503 275,308 1,561 1,809,949 58,565 211,979 11,468 276,049 - 245,931 295,557 365 2,275,950 503,479 5,994,662 74.06

TOTAL 35,533 396,540 1,561 2,806,459 71,731 344,429 11,468 482,928 - 253,673 295,557 856 2,643,985 749,889 8,094,606 100.00

Fire Industrial LiabilityWorkmens'

CompensationMedical Miscellaneous

APPENDIX 9: SUMMARY OF GROSS PREMIUM INCOME UNDER GENERAL INSURANCE BUSINESS FOR THE PERIOD ENDED 30.06.2016

INSURERS

Total

Market Share (%)


REINSURERS

Marine Motor PrivateMotor

Commercial

Motor

Commercial PSVPersonal Accident TheftCompany Aviation Engineering Fire Domestic

9


10

AAR INSURANCE KENYA - - 0.16 - 0.13 0.00 - - - 0.72 0.03 0.50 13.07 0.37 3.98

AFRICAN MERCHANT ASSURANCE - 1.42 0.23 1.92 0.60 0.28 3.93 3.79 - 2.72 0.72 2.56 - 3.14 1.81

AIG INSURANCE COMPANY 1.34 2.27 5.79 8.08 29.01 1.41 5.68 1.88 - 9.18 11.87 1.62 - 0.04 3.65

ALLIANZ INSURANCE COMPANY - 0.43 0.00 0.01 0.01 - 0.00 - - - - - - - 0.01

APA INSURANCE COMPANY 0.39 5.56 4.96 5.29 3.76 8.35 8.11 11.63 - 2.47 4.07 12.31 8.82 11.54 7.96

BRITAM GENERAL INSURANCE - 8.54 8.53 4.18 4.36 13.71 4.98 6.95 - 12.69 5.38 4.16 5.33 1.19 5.53

CANNON ASSURANCE COMPANY - 2.84 1.29 0.78 0.91 0.95 1.92 2.81 - 1.92 1.11 1.88 - 2.55 1.23

CIC GENERAL INSURANCE COMPANY - 3.84 7.19 3.61 3.67 4.81 9.91 12.63 - 8.17 11.40 3.88 3.24 9.76 6.46

CORPORATE INSURANCE COMPANY - 0.66 1.08 0.20 0.10 1.01 0.44 0.33 - 0.15 0.76 0.34 - 0.24 0.26

DIRECTLINE ASSURANCE COMPANY - - - - - - 0.39 0.12 55.78 - - - - - 2.36

FIDELITY SHIELD INSURANCE 0.01 2.26 2.03 2.16 0.49 3.20 1.90 3.18 0.34 0.55 2.94 2.89 - 2.11 1.54

FIRST ASSURANCE COMPANY 0.17 10.65 3.58 4.36 3.57 3.20 2.92 3.40 - 4.30 2.75 2.82 3.56 5.84 3.51

GA INSURANCE COMPANY 4.16 10.27 7.06 9.89 3.33 8.02 2.86 3.17 1.98 2.31 8.59 9.40 3.39 5.89 4.70

GEMINIA INSURANCE COMPANY - 1.69 3.08 1.87 0.90 4.89 2.52 2.85 - 1.24 3.24 3.67 - 1.77 1.66

HERITAGE INSURANCE COMPANY 0.05 2.69 8.40 4.66 9.67 2.38 3.76 3.56 0.73 9.67 2.92 6.42 4.85 8.32 4.50

ICEA LION GENERAL INSURANCE 71.49 4.34 10.06 9.76 5.37 8.61 7.59 4.62 - 8.21 5.33 7.75 1.95 2.37 5.82

INTRA-AFRICA ASSURANCE - 1.60 1.74 1.00 0.26 2.15 1.26 1.01 - 0.78 1.31 2.35 - 1.66 0.82

INVESCO ASSURANCE COMPANY - 0.01 0.02 0.00 ( 0.00 ) 0.03 0.83 0.45 38.82 0.05 0.00 0.01 - ( 0.00 ) 1.80

JUBILEE INSURANCE COMPANY 8.39 8.61 4.22 8.17 14.10 4.23 7.86 3.42 - 18.76 4.21 2.04 23.61 2.63 11.39

KENINDIA ASSURANCE COMPANY - 5.49 4.04 9.91 2.06 9.96 1.65 3.43 - 1.33 8.14 9.42 0.26 0.81 3.16

KENYA ORIENT INSURANCE - 1.12 1.76 0.89 1.40 0.62 5.39 5.98 0.50 0.57 1.58 1.48 - 2.04 2.24

MADISON INSURANCE COMPANY - 0.64 0.49 0.38 3.63 0.23 2.66 5.01 - 0.73 0.42 0.46 2.03 6.93 2.21

MAYFAIR INSURANCE COMPANY 2.10 5.37 3.51 6.00 0.90 6.67 1.39 1.42 - 1.06 3.17 6.30 - 3.05 1.96

OCCIDENTAL INSURANCE COMPANY - 4.25 3.57 2.93 0.35 6.03 1.75 2.34 - 1.12 3.69 4.79 - 1.80 1.71

PACIS INSURANCE COMPANY - 0.56 1.01 0.84 0.72 0.03 1.69 1.74 - 2.31 1.00 1.16 0.38 0.12 0.97

PHOENIX OF EAST AFRICA 9.26 0.65 0.48 0.82 1.35 0.24 0.41 0.22 - 0.16 0.15 0.26 - 0.81 0.39

RESOLUTION INSURANCE COMPANY - - 0.09 0.30 0.00 - 0.23 0.14 - 1.58 0.07 0.84 9.90 0.49 3.16

SAHAM INSURANCE COMPANY - 4.02 0.61 1.00 1.12 0.32 0.78 0.54 1.11 0.24 0.46 0.97 0.75 11.57 1.06

SANLAM GENERAL INSURANCE LIMITED - 0.21 0.35 0.15 1.51 0.28 1.20 1.08 0.51 0.32 0.15 0.28 0.47 0.63 0.64

TAKAFUL INSURANCE OF AFRICA - 0.13 0.62 0.22 0.11 0.22 0.71 1.17 - 1.08 1.37 0.74 1.16 0.10 0.82

TAUSI ASSURANCE COMPANY - 1.38 2.90 2.41 0.60 3.84 0.81 0.49 - 0.41 3.02 2.05 0.04 1.05 0.89

THE KENYAN ALLIANCE INSURANCE - 0.28 2.97 0.84 0.14 0.42 2.26 1.46 - 0.28 0.49 0.34 - 0.00 0.79

THE MONARCH INSURANCE - 0.34 0.18 0.53 0.22 0.12 1.91 1.35 - 0.90 0.13 0.24 - 2.12 0.69

TRIDENT INSURANCE COMPANY 2.34 0.95 0.68 1.78 0.18 0.96 0.93 1.16 0.22 0.55 1.39 0.93 0.41 1.10 0.87

UAP INSURANCE COMPANY - 6.51 7.30 5.04 5.36 2.62 6.15 5.37 - 3.43 8.06 5.02 15.79 6.27 8.34

XPLICO INSURANCE COMPANY 0.30 0.43 0.03 0.00 0.08 0.20 3.24 1.32 - 0.01 0.07 0.13 1.00 1.71 1.12

TOTAL 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

CONTINENTAL REINSURANCE 24.42 2.20 - 12.52 10.83 5.47 - 10.43 0 ) 1.28 - 52.92 5.83 10.36 8.42

EAST AFRICAN REINSURANCE ( 4.63 ) 28.37 - 22.99 7.53 32.98 - 32.40 0 ) 1.78 - 4.44 8.09 22.50 17.52

KENYA REINSURANCE CORPORATION 80.22 69.43 100.00 64.49 81.65 61.55 100.00 57.16 0 ) 96.95 100.00 42.64 86.08 67.14 74.06

TOTAL 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 - 100.00 100.00 100.00 100.00 100.00 100.00

INSURERS

REINSURERS

Motor

Commercial

PSV

Personal

AccidentTheft

Workmens'


APPENDIX 10: SUMMARY OF GENERAL INSURANCE BUSINESS MARKET SHARE PER CLASS FOR THE PERIOD ENDED 30.06.2016

Company Aviation EngineeringFire

Domestic

Fire

IndustrialLiability Marine

Motor

Private

Motor

Commercial

Total


11

Company Aviation Engineering

Fire

Domestic

Fire

Industrial Liability Marine

Motor

Private

Motor

Commercial

Motor

Commercial PSV

Personal

Accident Theft

Workmens'

Compensation Medical Miscellaneous

Total

AAR INSURANCE KENYA - - 520 - - - - - - 374 - ( 7,107 ) 1,579,884 258 1,573,929

AFRICAN MERCHANT ASSURANCE - 14 112 2,136 2,455 - 231,105 131,069 170,980 22,335 5,315 18,696 - 155 584,373

AIG INSURANCE COMPANY 1,199 353 23,379 26,525 21,951 4,143 398,144 113,058 - 100,978 3,055 9,611 - - 702,397

ALLIANZ INSURANCE COMPANY - - - - - - - - - - - - - - -

APA INSURANCE COMPANY - 26,387 9,178 16,834 32,108 24,096 555,259 526,445 - 27,243 33,206 118,687 664,365 26,791 2,060,599

BRITAM GENERAL INSURANCE - 5,873 7,888 27,663 3,730 12,175 568,100 374,505 - 21,464 23,031 36,010 532,167 143 1,612,751

CANNON ASSURANCE COMPANY - 105 ( 5,773 ) 12,758 12,877 13,046 136,555 95,871 - ( 8,201 ) 2,901 17,036 - 451 277,626

CIC GENERAL INSURANCE COMPANY - ( 48,498 ) 9,950 ( 20,569 ) ( 301,197 ) ( 1,801 ) 845,075 563,365 - 23,455 ( 1,315 ) 19,041 475,881 12,366 1,575,754

CORPORATE INSURANCE COMPANY 5,037 2,006 13 3,454 - 2,762 29,513 27,503 - 15 7,115 1,526 - - 78,946

DIRECTLINE ASSURANCE COMPANY - - - - - - 570 238 544,114 - - - - - 544,922

FIDELITY SHIELD INSURANCE - 1,752 3,592 9,866 175 12,231 122,786 108,746 4,645 212 9,119 35,478 - 172 308,774

FIRST ASSURANCE COMPANY - 24,642 17,535 24,514 10,297 17,200 255,732 189,711 - 2,937 18,505 61,188 249,247 5,321 876,829

GA INSURANCE COMPANY - 14,938 18,604 9,741 3,064 10,958 98,570 137,151 ( 25,692 ) 5,391 56,004 121,951 107,519 10,136 568,336

GEMINIA INSURANCE COMPANY - 3,704 2,847 20,273 864 22,893 135,400 144,838 - 4,231 21,428 31,218 - - 387,696

HERITAGE INSURANCE COMPANY - 1,637 18,361 24,908 ( 4,693 ) 2,330 222,740 155,649 - 6,693 7,302 36,266 107,656 12,412 591,260

ICEA LION GENERAL INSURANCE 2,188 8,745 23,155 54,693 7,520 22,789 366,853 202,277 - 27,367 48,724 75,914 88,125 626 928,975

INTRA-AFRICA ASSURANCE - 7,843 5,085 8,487 2,514 7,621 87,466 43,025 - 16,472 32,590 16,520 - 2,587 230,209

INVESCO ASSURANCE COMPANY - - 48 - - - 50,134 45,783 387,208 - - 298 - - 483,472

JUBILEE INSURANCE COMPANY - 14,799 14,071 36,456 442 24,357 607,653 138,118 - 263,196 58,430 36,473 2,111,340 16,746 3,322,081

KENINDIA ASSURANCE COMPANY - 11,658 18,517 37,697 4,060 61,755 88,447 167,484 - 5,537 31,866 114,632 44,291 230 586,174

KENYA ORIENT INSURANCE - 2,318 2,677 11,718 5,775 254 300,157 298,869 - 1,139 2,223 6,450 - 755 632,336

MADISON INSURANCE COMPANY - 915 1,190 2,096 10,360 1,462 185,306 226,693 - 2,007 3,997 8,170 283,557 12,256 738,008

MAYFAIR INSURANCE COMPANY - 14,483 4,076 3,408 147 7,473 81,898 60,210 - 1,572 8,292 42,646 - 98 224,303

OCCIDENTAL INSURANCE COMPANY - 4,535 17,127 10,893 14 18,176 112,257 101,960 1,645 1,454 14,600 55,800 - 5,921 344,381

PACIS INSURANCE COMPANY - 2,535 1,386 2,831 598 12 120,832 60,892 - 676 2,175 7,022 15,834 53 214,845

PHOENIX OF EAST AFRICA 686 359 2,523 5,961 2,436 1,038 33,094 11,770 - 1,875 4,212 14,010 - 19,740 97,705

RESOLUTION INSURANCE COMPANY - - 230 - - - 9,166 24,082 - 7,174 - 13,143 158,401 - 212,197

SAHAM INSURANCE COMPANY - 3,394 631 1,473 497 418 41,720 15,789 208 83 775 4,182 21,759 9,542 100,470

SANLAM GENERAL INSURANCE LIMITED - 153 714 4 613 916 87,138 35,763 41,161 - 293 859 19,507 50 187,170

TAKAFUL INSURANCE OF AFRICA - - 192 299 94 959 37,882 32,916 - - 499 1,707 35,650 37 110,234

TAUSI ASSURANCE COMPANY - 3,174 25,597 8,855 3,964 13,503 25,747 27,088 - 290 14,251 37,955 2,245 57 162,726

THE KENYAN ALLIANCE INSURANCE - 357 209 7,834 4,801 33 108,642 83,640 - 6,114 3,169 7,408 - 2,980 225,186

THE MONARCH INSURANCE - 33 114 197 242 1,042 67,916 23,997 - 590 82 1,403 - - 95,618

TRIDENT INSURANCE COMPANY - 2,872 302 3,202 441 1,071 54,947 39,584 - 1,052 2,347 16,171 17,930 3 139,923

UAP INSURANCE COMPANY - 11,872 6,360 24,296 9,290 8,847 353,821 215,756 - 15,356 16,172 38,045 1,862,094 3,767 2,565,675

XPLICO INSURANCE COMPANY - ( 49 ) 128 - - - 124,959 36,146 - - 20 4,834 77,083 ( 14,702 ) 228,419

TOTAL 9,110 122,909 230,538 378,503 ( 164,561 ) 291,759 6,545,584 4,459,991 1,124,269 559,081 430,383 1,003,243 8,454,535 128,951 23,574,299

CONTINENTAL REINSURANCE 1,926 5,615 - 75,700 110 4,684 - 11,051 - 2,341 - 13 136,842 22,811 261,093

EAST AFRICA REINSURANCE ( 527 ) 28,490 - 559,139 939 52,747 - 121,590 - 1,746 - 52 183,255 48,796 996,227

KENYA REINSURANCE CORPORATION 3,593 132,975 131 1,256,012 1,893 91,809 1,077 83,103 - 123,486 80,385 14 1,180,772 82,093 3,037,343

TOTAL 4,992 167,080 131 1,890,851 2,942 149,240 1,077 215,744 - 127,573 80,385 79 1,500,869 153,700 4,294,663

APPENDIX 11: SUMMARY OF CLAIMS PAID UNDER GENERAL INSURANCE BUSINESS FOR THE PERIOD ENDED 30.06.2016

INSURERS

REINSURERS



12

Company Aviation Engineering Fire Domestic Fire Industrial Liability Marine Motor PrivateMotor

Commercial

Motor

Commercial

PSV

Personal

AccidentTheft

Workmens'


Total

AAR INSURANCE KENYA - - 1,564 - 357 - - - - 606 75 ( 1,351 ) 1,584,134 458 1,585,843

AFRICAN MERCHANT ASSURANCE - 319 209 23,167 11,030 ( 1,512 ) 261,482 90,262 111,300 17,952 15,670 19,353 - ( 297 ) 548,936

AIG INSURANCE COMPANY 1,754 453 25,701 31,294 106,212 2,905 430,904 102,905 - 100,791 3,903 7,525 - ( 46,781 ) 767,567

ALLIANZ INSURANCE COMPANY - 281 - 6 8 - 15 - - - - - - - 309

APA INSURANCE COMPANY 284 40,749 14,231 54,510 95,901 11,392 752,079 635,998 - 13,051 28,673 191,588 663,287 7,027 2,508,771

BRITAM GENERAL INSURANCE - 7,740 7,799 ( 21,662 ) 3,185 3,545 718,337 545,031 - 11,067 59,160 33,037 523,126 7,700 1,898,064

CANNON ASSURANCE COMPANY - 6,019 1,590 15,433 21,046 20,020 154,571 85,952 - 13,593 11,771 50,203 - ( 1,774 ) 378,424

CIC GENERAL INSURANCE COMPANY - ( 11,624 ) 5,869 51,280 ( 101,474 ) 35,674 844,209 654,347 - 23,120 47,785 49,133 232,007 15,501 1,845,828

CORPORATE INSURANCE COMPANY 3,307 ( 1,711 ) ( 646 ) ( 19,987 ) ( 4,439 ) 4,430 30,788 24,845 - 4,808 5,563 ( 443 ) - 13,791 60,306

DIRECTLINE ASSURANCE COMPANY - - - - - - 2,806 870 945,201 - - - - - 948,877

FIDELITY SHIELD INSURANCE ( 24,781 ) 8,110 8,562 17,573 42,140 48,688 121,117 176,548 6,372 647 18,896 6,898 ( 7,882 ) 8,813 431,702

FIRST ASSURANCE COMPANY ( 101 ) 25,577 14,728 26,045 2,098 ( 723 ) 263,806 213,490 - 7,546 20,042 68,771 246,127 5,400 892,806

GA INSURANCE COMPANY ( 15 ) 25,589 14,619 35,385 ( 5,803 ) 744 158,820 156,339 ( 25,532 ) ( 5,148 ) 642 ( 26,875 ) 113,287 50,426 492,478

GEMINIA INSURANCE COMPANY - 10,933 8,796 29,620 2,079 33,819 210,677 219,170 - 6,065 38,972 75,881 - 28 636,041

HERITAGE INSURANCE COMPANY 225 6,778 40,494 13,425 ( 3,876 ) 15,266 251,309 214,949 9,017 22,558 ( 2,110 ) 59,120 81,164 25,322 733,640

ICEA LION GENERAL INSURANCE 671 9,588 34,957 12,632 16,869 36,524 459,034 201,687 - 40,128 58,534 118,185 98,388 1,021 1,088,218

INTRA-AFRICA ASSURANCE - 12,960 9,267 9,539 2,433 4,064 95,225 50,947 - 17,666 30,901 6,149 - 5,010 244,162

INVESCO ASSURANCE COMPANY - 217 ( 1,413 ) 2,458 ( 1 ) ( 5 ) 57,703 109,884 362,481 70 ( 208 ) 758 - - 531,944

JUBILEE INSURANCE COMPANY 270 21,462 12,480 44,070 ( 47,429 ) 11,469 609,164 122,148 - 277,644 71,655 21,275 2,225,668 ( 5,667 ) 3,364,208

KENINDIA ASSURANCE COMPANY - 13,588 23,675 44,233 ( 5,087 ) 43,581 102,095 253,698 - 2,115 23,821 116,991 45,415 467 664,590

KENYA ORIENT INSURANCE - 3,500 2,827 12,896 10,476 395 304,330 333,981 - 1,349 5,754 8,362 - 1,591 685,461

MADISON INSURANCE COMPANY - 4,703 12,836 23,037 48,915 2,599 202,000 235,653 - 9,006 2,003 24,296 307,351 10,823 883,222

MAYFAIR INSURANCE COMPANY 40 18,496 2,422 35,063 4,440 3,645 71,012 31,570 - 1,052 9,202 139,950 - ( 827 ) 316,066

OCCIDENTAL INSURANCE COMPANY - 447 19,015 4,026 64 19,565 106,797 96,566 1,345 1,289 13,584 75,111 - 4,841 342,651

PACIS INSURANCE COMPANY - ( 2,480 ) 975 9,852 3,225 - 119,374 35,516 - 1,009 1,394 9,181 16,657 45 194,750

PHOENIX OF EAST AFRICA 4,939 ( 3,746 ) 3,120 8,407 7,410 289 39,325 12,195 - 875 8,305 22,440 - 28,368 131,925

RESOLUTION INSURANCE COMPANY - - 651 - 49 - 11,354 25,585 - 7,308 217 15,422 328,382 724 389,693

SAHAM INSURANCE COMPANY - 2,617 779 545 5,260 1,727 65,230 26,437 ( 81 ) ( 580 ) ( 229 ) 6,944 30,404 13,063 152,115

SANLAM GENERAL INSURANCE LIMITED - ( 5,012 ) 5,235 ( 546 ) 4,132 223 139,777 ( 19,623 ) ( 47,788 ) ( 5,267 ) ( 6,289 ) 6,123 22,514 ( 69 ) 93,410

TAKAFUL INSURANCE OF AFRICA ( 1,646 ) 1,103 ( 7,569 ) 10,468 10,471 ( 84,057 ) ( 26,748 ) 170,717 ( 7,217 ) 3,633 ( 9,445 ) 27,655 37,113 2,167 126,645

TAUSI ASSURANCE COMPANY - 496 28,934 9,050 435 19,689 37,817 10,119 - 559 20,086 29,530 3,130 ( 132 ) 159,712

THE KENYAN ALLIANCE INSURANCE - 1,068 22,928 33,676 4,784 ( 663 ) 141,851 92,359 - 5,505 21,388 83 - 2,980 325,960

THE MONARCH INSURANCE - ( 89 ) 94 254 204 971 75,727 33,283 - 894 ( 212 ) 2,652 - 982 114,760

TRIDENT INSURANCE COMPANY ( 1,105 ) ( 990 ) 4,945 4,064 ( 9,609 ) ( 4,090 ) 59,731 51,296 ( 2,400 ) ( 4,522 ) ( 3,128 ) ( 48,108 ) 21,779 ( 2,512 ) 65,350

UAP INSURANCE COMPANY - 4,144 8,360 70,197 12,657 5,117 454,806 300,232 - 13,482 27,280 46,393 1,893,636 10,891 2,847,194

XPLICO INSURANCE COMPANY ( 86 ) 709 849 ( 51 ) 12 3,964 136,088 152,099 - 51 2,789 6,416 110,265 15,856 428,962

TOTAL ( 16,244 ) 201,994 328,883 589,959 238,174 239,255 7,462,612 5,447,055 1,352,698 589,922 526,444 1,168,648 8,575,952 175,236 26,880,590

CONTINENTAL REINSURANCE 2,293 ( 5,213 ) - 112,560 1,552 4,007 - 19,733 - 2,232 ( 35 ) 6 151,098 16,664 304,898

EAST AFRICA REINSURANCE ( 453 ) 46,578 - 282,986 1,083 55,098 - 173,966 - 2,362 - 59 206,457 65,744 833,880

KENYA REINSURANCE CORPORATION ( 6,289 ) ( 96,471 ) 232 1,334,539 32,614 547 ( 18,568 ) ( 210,969 ) - 384,515 475,906 ( 53 ) 1,201,287 6,381 3,103,671

TOTAL ( 4,449 ) ( 55,106 ) 232 1,730,085 35,249 59,652 ( 18,568 ) ( 17,270 ) - 389,109 475,871 12 1,558,842 88,789 4,242,449

APPENDIX 12: SUMMARY OF CLAIMS INCURRED UNDER GENERAL INSURANCE BUSINESS FOR THE PERIOD ENDED 30.06.2016

INSURERS

REINSURERS



13

Company Aviation Engineering Fire Domestic Fire Industrial Liability Marine Motor Private

Motor

Commercial

Motor

Commercial

PSV

Personal

Accident Theft

Workmens'


Total

AAR INSURANCE KENYA 0.0 0.0 47.9 0.0 45.5 0.0 0.0 0.0 0.0 6.6 16.2 -10.6 75.5 9.9 74.4

AFRICAN MERCHANT ASSURANCE 0.0 0.7 25.5 -75.7 1361.7 141.4 65.5 28.4 -1361.5 9.6 -825.2 21.5 0.0 -5.9 54.6

AIG INSURANCE COMPANY 1209.7 1.2 42.8 127.7 38.5 73.8 87.1 57.2 0.0 75.2 -264.6 17.6 0.0 4720.6 61.3

ALLIANZ INSURANCE COMPANY 0.0 40.6 0.0 4.3 16.3 0.0 187.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34.8

APA INSURANCE COMPANY 42.9 116.7 52.2 98.6 274.9 13.9 91.4 59.8 0.0 25.8 39.6 65.8 75.1 5.4 70.7

BRITAM GENERAL INSURANCE 0.0 24.5 16.9 -23.1 15.7 8.1 105.2 72.5 0.0 5.2 60.6 31.8 42.2 517.5 57.0

CANNON ASSURANCE COMPANY 0.0 294.2 35.7 138.8 3283.3 135.3 85.0 55.3 0.0 155.2 229.0 79.9 0.0 -17.9 85.9

CIC GENERAL INSURANCE COMPANY 0.0 -33.9 16.2 40.0 -161.7 43.6 85.4 54.2 0.0 22.1 25.8 40.8 53.3 17.9 53.2

CORPORATE INSURANCE COMPANY 0.0 53.8 -13.4 340.8 -2084.0 31.6 54.5 57.6 0.0 65.4 30.0 -2.6 0.0 87.9 35.9

DIRECTLINE ASSURANCE COMPANY 0.0 0.0 0.0 0.0 0.0 0.0 10.5 11.0 65.7 0.0 0.0 0.0 0.0 0.0 64.4

FIDELITY SHIELD INSURANCE -413016.7 152.2 81.0 53.5 1000.5 235.3 62.0 82.7 83.7 10.3 76.7 7.8 0.0 220.9 70.4

FIRST ASSURANCE COMPANY -26.8 179.8 92.3 51.3 8.6 -2.2 111.1 64.2 0.0 18.1 62.4 77.1 81.0 35.8 75.0

GA INSURANCE COMPANY -3.1 146.7 47.1 52.9 -18.7 1.1 84.4 68.1 -160.6 -21.5 0.4 -11.6 85.4 184.1 40.7

GEMINIA INSURANCE COMPANY 0.0 299.0 49.7 90.6 27.6 69.5 100.6 95.8 0.0 67.0 76.5 74.4 0.0 0.2 88.1

HERITAGE INSURANCE COMPANY 63.6 32.6 140.7 15.0 -6.3 56.9 71.1 63.3 60.9 15.4 -4.2 35.1 50.3 36.2 47.9

ICEA LION GENERAL INSURANCE 29.4 38.6 59.8 15.1 83.8 52.9 68.1 50.2 0.0 50.9 49.1 56.5 66.0 33.6 57.5

INTRA-AFRICA ASSURANCE 0.0 98.5 108.1 60.6 84.8 16.6 66.9 54.0 0.0 191.4 173.8 10.0 0.0 48.8 61.0

INVESCO ASSURANCE COMPANY 0.0 834.6 -1086.9 -190.7 -5.3 -1.0 74.9 234.0 34.6 15.2 -250.6 2105.6 0.0 0.0 45.4

JUBILEE INSURANCE COMPANY 3.7 82.0 47.6 24.8 -278.3 23.7 84.4 38.7 0.0 108.4 86.5 38.7 80.1 -23.1 74.2

KENINDIA ASSURANCE COMPANY 0.0 99.0 131.4 79.4 -40.1 38.9 63.2 109.4 0.0 18.5 47.5 61.9 95.0 12.8 73.2

KENYA ORIENT INSURANCE 0.0 24.5 22.3 38.1 66.8 4.8 37.9 289.7 0.0 23.5 8.6 28.2 0.0 3.4 57.3

MADISON INSURANCE COMPANY 0.0 27.0 107.8 268.3 112.2 120.7 85.5 50.2 0.0 89.0 29.7 128.2 88.6 16.3 71.3

MAYFAIR INSURANCE COMPANY 5.2 48.7 17.9 34.5 36.3 9.2 59.2 26.6 0.0 9.0 31.3 82.7 0.0 -3.5 46.6

OCCIDENTAL INSURANCE COMPANY 0.0 5.4 116.5 16.2 4.9 64.5 63.5 43.7 0.0 24.8 48.5 48.5 0.0 50.6 51.3

PACIS INSURANCE COMPANY 0.0 -73.0 19.9 69.8 42.7 0.0 77.8 23.0 0.0 4.9 10.3 32.7 65.4 6.4 45.6

PHOENIX OF EAST AFRICA 23.3 -161.1 48.5 142.5 102.2 5.2 82.7 59.6 0.0 32.2 427.0 142.4 0.0 455.1 92.0

RESOLUTION INSURANCE COMPANY 0.0 0.0 -56.1 0.0 -20.6 0.0 113.9 436.5 0.0 23.3 46.1 54.0 61.7 -75.1 62.5

SAHAM INSURANCE COMPANY 0.0 70.8 28.5 11.3 348.3 338.6 78.3 66.1 -0.3 -34.4 -3.7 29.6 93.5 26.7 54.7

SANLAM GENERAL INSURANCE LIMITED 0.0 -411.2 779.0 -16.9 -129.7 29.3 142.7 -26.9 -169.6 -272.8 150.8 144.1 33.7 -1.3 33.9

TAKAFUL INSURANCE OF AFRICA 0.0 30.3 -277.2 1986.3 193.2 11723.4 208.2 67.8 15.6 15.9 17.0 63.7 44.5 20.7 41.0

TAUSI ASSURANCE COMPANY 0.0 18.1 234.1 55.1 9.4 52.1 57.4 23.6 0.0 12.0 56.5 50.6 62.0 -3.2 55.0

THE KENYAN ALLIANCE INSURANCE 0.0 9.1 131.4 168.7 208.5 -11.6 61.0 54.3 0.0 65.5 132.9 0.4 0.0 834.7 64.6

THE MONARCH INSURANCE 0.0 2.4 24.7 2.2 10.1 144.5 46.3 36.8 0.0 9.3 -12.6 40.1 0.0 4.2 37.5

TRIDENT INSURANCE COMPANY -390.5 -26.2 162.9 51.2 -432.8 -47.8 62.7 55.8 -41.9 -103.0 -47.3 -117.8 67.4 -22.0 20.8

UAP INSURANCE COMPANY 0.0 16.7 18.3 62.5 33.7 19.8 79.4 57.1 0.0 31.0 33.4 33.7 79.8 40.1 71.0

XPLICO INSURANCE COMPANY -3.4 -7.9 -128.8 -4.8 0.3 -3.1 23.7 187.5 0.0 10.3 114.6 103.7 35.3 32.6 47.9

TOTAL -44.8 45.1 60.1 46.7 33.0 33.0 74.4 63.1 52.8 39.8 44.2 43.0 71.2 23.2 62.3

CONTINENTAL REINSURANCE 51.1 -36.8 0.0 43.5 20.3 18.1 0.0 45.2 0.0 88.4 18.1 0.0 58.5 17.0 47.0

EAST AFRICA REINSURANCE 135.2 43.2 0.0 46.1 16.7 58.2 0.0 111.5 0.0 55.0 0.0 155.3 98.4 39.3 61.3

KENYA REINSURANCE CORPORATION -59.4 -34.2 17.7 85.2 59.9 0.2 9.3 -45.3 0.0 75.1 171.8 -11.5 66.4 1.5 57.0

TOTAL -30.2 -13.6 17.7 70.9 51.4 16.8 9.3 -2.6 0.0 75.0 171.9 0.0 68.4 12.8 56.9

APPENDIX 13: SUMMARY OF INCURRED CLAIMS RATIOS UNDER GENERAL INSURANCE BUSINESS FOR THE PERIOD ENDED 30.06.2016

INSURERS

REINSURERS

14


Company Aviation Engineering Fire Domestic Fire Industrial Liability Marine Motor Private

Motor

Commercial

Motor

Commercial

PSV

Personal

Accident Theft

Workmens'


Total

AAR INSURANCE KENYA - - ( 592 ) - - 14 - - - 5,152 212 9,674 ( 50,210 ) 2,264 ( 33,487 )

AFRICAN MERCHANT ASSURANCE - 35,290 ( 275 ) ( 89,176 ) ( 13,993 ) ( 1,380 ) ( 43,561 ) 61,016 ( 119,475 ) 146,888 ( 24,221 ) 35,479 - ( 10,942 ) ( 24,349 )

AIG INSURANCE COMPANY ( 8,934 ) 35,552 15,118 ( 13,157 ) 92,994 ( 3,708 ) ( 51,766 ) ( 16,468 ) - ( 64,735 ) 21,268 14,993 - 27,029 48,187

ALLIANZ INSURANCE COMPANY - ( 40,377 ) ( 97 ) ( 4,609 ) ( 829 ) - ( 1,894 ) - - - - - - - ( 47,806 )

APA INSURANCE COMPANY 754 ( 20,599 ) 63 ( 41,727 ) ( 77,569 ) 39,294 ( 155,636 ) 121,874 - 18,823 19,908 ( 31,254 ) 8,087 87,407 ( 30,576 )

BRITAM GENERAL INSURANCE - 7,548 17,402 99,536 ( 401 ) 4,364 ( 293,884 ) ( 71,849 ) - 132,359 1,534 25,036 307,985 ( 5,503 ) 224,129

CANNON ASSURANCE COMPANY - ( 12,447 ) ( 475 ) ( 11,878 ) ( 25,029 ) ( 11,162 ) ( 42,960 ) ( 27,207 ) ( 16,553 ) ( 12,975 ) ( 15,393 ) ( 14,297 ) ( 6,783 ) 12,578 ( 184,580 )

CIC GENERAL INSURANCE COMPANY - 13,630 9,481 ( 26,697 ) 135,978 11,744 ( 147,647 ) 175,617 - 15,928 17,758 13,752 61,907 38,398 319,849

CORPORATE INSURANCE COMPANY ( 3,307 ) ( 5,654 ) 1,485 8,024 3,954 564 870 196 - 979 461 10,127 - 395 18,094

DIRECTLINE ASSURANCE COMPANY - - - - - - 13,153 5,814 ( 110,409 ) - - - - - ( 91,442 )

FIDELITY SHIELD INSURANCE 24,775 ( 8,837 ) ( 3,051 ) ( 13,571 ) ( 40,201 ) ( 39,298 ) 10,702 ( 50,866 ) ( 1,087 ) 2,834 ( 6,553 ) 43,869 7,882 ( 7,400 ) ( 80,801 )

FIRST ASSURANCE COMPANY 553 5,151 ( 8,111 ) 5,264 12,394 22,015 ( 122,566 ) 11,840 - 13,675 3,020 ( 19,162 ) 12,130 17,156 ( 46,641 )

GA INSURANCE COMPANY 835 ( 10,692 ) 5,332 45,990 26,760 52,863 ( 20,543 ) 14,918 36,219 18,922 103,877 183,453 9,101 ( 22,852 ) 444,183

GEMINIA INSURANCE COMPANY - ( 7,805 ) 1,493 ( 19,165 ) 976 ( 7,387 ) ( 68,270 ) ( 63,692 ) - 70 ( 7,892 ) ( 17,355 ) - 10,179 ( 178,850 )

HERITAGE INSURANCE COMPANY 75 5,730 ( 50,080 ) 44,504 27,792 ( 2,460 ) ( 39,414 ) ( 19,811 ) 5,779 38,590 23,613 10,702 91,390 5,700 142,109

ICEA LION GENERAL INSURANCE ( 54,986 ) 4,320 3,692 4,900 ( 5,487 ) 8,769 45,012 64,686 - 6,366 28,280 19,481 ( 16,887 ) 762 108,910

INTRA-AFRICA ASSURANCE - ( 186 ) ( 2,853 ) 8,262 ( 1,094 ) 9,934 ( 4,055 ) 3,547 - ( 9,805 ) ( 19,312 ) 21,709 - 2,553 8,699

INVESCO ASSURANCE COMPANY - ( 326 ) 1,457 ( 3,861 ) 18 218 ( 29,682 ) ( 88,667 ) 112,552 ( 189 ) 238 ( 969 ) - - ( 9,212 )

JUBILEE INSURANCE COMPANY ( 5,772 ) ( 17,416 ) 4,471 23,371 21,796 26,437 ( 60,027 ) 108,194 - ( 119,244 ) ( 12,205 ) 12,778 893 19,289 2,564

KENINDIA ASSURANCE COMPANY - ( 10,851 ) ( 14,044 ) ( 47,076 ) 10,762 29,231 14,714 ( 111,693 ) - 6,883 17,675 ( 40,442 ) ( 8,912 ) 10,003 ( 143,750 )

KENYA ORIENT INSURANCE - 6,389 5,045 9,606 ( 2,556 ) 5,755 325,423 ( 406,341 ) 38,997 193 54,903 3,193 - 39,318 79,923

MADISON INSURANCE COMPANY - 8,058 ( 4,303 ) ( 19,838 ) ( 26,325 ) ( 1,039 ) ( 59,214 ) 49,341 - ( 4,274 ) 1,478 ( 13,323 ) ( 73,378 ) 26,380 ( 116,438 )

MAYFAIR INSURANCE COMPANY 2,024 11,673 5,712 41,579 3,825 22,227 731 51,006 - 6,287 6,612 ( 33,644 ) - 19,136 137,169

OCCIDENTAL INSURANCE COMPANY - 8,784 ( 8,126 ) 19,911 1,021 3,802 11,645 58,927 ( 1,345 ) 3,166 10,279 17,796 - 4,699 130,559

PACIS INSURANCE COMPANY - 2,794 206 ( 11,871 ) ( 485 ) 387 ( 34,521 ) 50,349 - ( 3,372 ) 1,438 ( 322 ) ( 10,212 ) 344 ( 5,267 )

PHOENIX OF EAST AFRICA ( 1,146 ) 1,888 764 ( 36,965 ) ( 30,761 ) 1,615 ( 20,250 ) ( 31,052 ) - ( 818 ) ( 6,698 ) ( 13,258 ) - ( 22,613 ) ( 159,293 )

RESOLUTION INSURANCE COMPANY - - ( 2,136 ) 8,907 ( 312 ) - ( 7,319 ) ( 24,603 ) ( 27 ) 9,503 557 289 ( 66,234 ) ( 3,938 ) ( 85,311 )

SAHAM INSURANCE COMPANY - 4,361 ( 116 ) 6,123 ( 2,976 ) ( 1,215 ) ( 34,755 ) ( 27,648 ) 26,281 1,997 1,956 ( 1,863 ) ( 7,450 ) 16,089 ( 19,218 )

SANLAM GENERAL INSURANCE LIMITED - 4,642 ( 5,778 ) ( 485 ) ( 19,307 ) ( 1,579 ) ( 112,426 ) 43,634 69,652 ( 669 ) 3,222 ( 5,950 ) 8,189 ( 8,711 ) ( 25,568 )

TAKAFUL INSURANCE OF AFRICA 1,646 1,330 3,988 ( 12,841 ) ( 7,470 ) 82,594 ( 17,214 ) 30,852 ( 39,176 ) 12,478 ( 56,434 ) 7,618 ( 2,688 ) 8,181 12,863

TAUSI ASSURANCE COMPANY - ( 629 ) ( 22,196 ) ( 7,003 ) 1,854 3,668 7,532 20,472 - 1,744 ( 3,420 ) 5,292 121 2,708 10,144

THE KENYAN ALLIANCE INSURANCE - 8,166 ( 16,097 ) ( 24,702 ) ( 3,433 ) 4,046 2,317 18,058 - ( 4,710 ) ( 12,223 ) 11,711 - ( 2,854 ) ( 19,720 )

THE MONARCH INSURANCE - ( 4,235 ) ( 117 ) 3,903 175 ( 582 ) 1,913 951 - 3,006 441 ( 497 ) - 10,201 15,160

TRIDENT INSURANCE COMPANY ( 3,747 ) ( 6,795 ) ( 3,631 ) 4,880 11,070 5,195 ( 3,074 ) ( 7,039 ) 7,550 6,028 1,909 77,126 8,860 ( 11,320 ) 87,013

UAP INSURANCE COMPANY - 23,077 16,944 ( 7,136 ) 6,483 12,003 ( 129,204 ) 35,227 - 6,447 17,532 25,177 ( 134,946 ) 5,577 ( 122,819 )

XPLICO INSURANCE COMPANY 1,119 ( 13,775 ) ( 1,661 ) 1,016 2,911 ( 133,376 ) 240,697 ( 148,054 ) - 578 ( 1,369 ) ( 3,022 ) 100,891 18,709 64,663

TOTAL ( 46,111 ) 27,759 ( 51,086 ) ( 55,982 ) 102,535 143,553 ( 825,173 ) ( 168,471 ) 8,958 238,105 172,451 353,897 239,736 288,922 429,090

CONTINENTAL REINSURANCE ( 911 ) 12,532 - ( 16,432 ) 3,099 10,124 ( 6,092 ) 18,116 - ( 1,262 ) ( 157 ) ( 61,106 ) 57,248 45,030 60,189

EAST AFRICA REINSURANCE 649 14,310 - 81,212 3,323 ( 5,850 ) - ( 36,106 ) ( 6,180 ) 265 - ( 21 ) ( 62,350 ) 30,101 19,353

KENYA REINSURANCE CORPORATION 10,243 260,509 216 ( 408,176 ) 2,163 146,069 ( 183,053 ) 641,383 - ( 59,946 ) ( 300,966 ) 391 23,448 225,204 357,485

TOTAL 9,981 287,351 216 ( 343,396 ) 8,585 150,343 ( 189,145 ) 623,393 ( 6,180 ) ( 60,943 ) ( 301,123 ) ( 60,736 ) 18,346 300,335 437,027

APPENDIX 14: SUMMARY OF UNDERWRITING PROFITS UNDER GENERAL INSURANCE BUSINESS FOR THE PERIOD ENDED 30.06.2016

INSURERS

REINSURERS



15

Company

Gross Direct

Premium

Inward

Reinsurance

Outward

Reinsurance

Net Premium

Written UPR B/F

Unexpired

Risk Reserve

(B/F)

UPR C/F

Unexpired

Risk Reserve

(B/F)

Net Earned

Premium

Income

Incurred

Claims

Net

Commisions

Expense of

Management

Underwriting

Profit /(Loss)

Investment

Income

Operating

Profit

AAR INSURANCE KENYA 2,541,552 - 37,325 2,504,226 1,834,684 - 2,208,327 - 2,130,584 1,585,843 190,284 387,945 ( 33,487 ) 90,055 56,567

AFRICAN MERCHANT ASSURANCE 1,147,027 10,182 119,114 1,038,095 909,325 - 941,335 - 1,006,085 548,936 76,120 405,378 ( 24,349 ) 113,593 89,245

AIG INSURANCE COMPANY 2,278,520 51,142 952,669 1,376,993 890,118 - 1,015,204 - 1,251,907 767,567 67,889 368,265 48,187 - 48,187

ALLIANZ INSURANCE COMPANY 8,883 - 2,241 6,642 - - 5,755 - 888 309 - 48,384 ( 47,806 ) 57,410 9,603

APA INSURANCE COMPANY 5,089,555 - 1,190,911 3,898,644 3,204,141 - 3,553,850 - 3,548,936 2,508,771 285,721 785,020 ( 30,576 ) - ( 30,576 )

BRITAM GENERAL INSURANCE 3,532,882 - 615,758 2,917,124 3,040,464 140,213 2,684,182 85,791 3,327,828 1,898,064 352,572 853,063 224,129 353,288 577,417

CANNON ASSURANCE COMPANY 779,643 9,056 158,300 630,399 406,780 - 596,757 - 440,422 378,424 50,943 195,636 ( 184,580 ) - ( 184,580 )

CIC GENERAL INSURANCE COMPANY 4,109,705 20,191 208,185 3,921,712 2,827,370 - 3,279,762 - 3,469,320 1,845,828 445,653 857,989 319,849 253,317 573,167

CORPORATE INSURANCE COMPANY 155,460 9,407 31,380 133,488 115,724 - 81,200 - 168,013 60,306 14,333 75,280 18,094 27,726 45,820

DIRECTLINE ASSURANCE COMPANY 1,510,845 - 41,337 1,469,508 791,135 - 786,410 - 1,474,234 948,877 150,284 466,516 ( 91,442 ) - ( 91,442 )

FIDELITY SHIELD INSURANCE 966,583 15,290 248,722 733,152 493,386 - 613,193 - 613,345 431,702 65,369 197,075 ( 80,801 ) - ( 80,801 )

FIRST ASSURANCE COMPANY 2,174,465 67,087 919,411 1,322,142 918,772 - 1,050,320 - 1,190,594 892,806 67,759 276,671 ( 46,641 ) - ( 46,641 )

GA INSURANCE COMPANY 2,952,687 50,112 1,386,607 1,616,192 994,752 - 1,401,921 - 1,209,023 492,478 ( 42,273 ) 314,635 444,183 256,393 700,576

GEMINIA INSURANCE COMPANY 1,056,709 3,757 127,560 932,907 553,561 - 764,466 - 722,002 636,041 99,547 165,264 ( 178,850 ) 87,882 ( 90,967 )

HERITAGE INSURANCE COMPANY 2,869,661 3,567 1,144,842 1,728,386 1,193,420 - 1,389,710 - 1,532,095 733,640 44,454 611,892 142,109 313,692 455,801

ICEA LION GENERAL INSURANCE 3,661,031 58,604 1,367,175 2,352,460 1,360,135 - 1,818,761 - 1,893,834 1,088,218 206,341 490,364 108,910 - 108,910

INTRA-AFRICA ASSURANCE 518,029 6,229 109,169 415,089 314,323 - 328,921 - 400,491 244,162 16,818 130,813 8,699 8,312 17,011

INVESCO ASSURANCE COMPANY 1,149,757 - 20,218 1,129,539 387,475 - 345,337 - 1,171,677 531,944 118,980 529,965 ( 9,212 ) - ( 9,212 )

JUBILEE INSURANCE COMPANY 6,899,581 378,889 2,063,163 5,215,308 3,350,928 - 4,030,399 - 4,535,836 3,364,208 391,659 777,405 2,564 383,053 385,617

KENINDIA ASSURANCE COMPANY 1,989,920 28,794 811,861 1,206,853 694,487 - 993,659 - 907,681 664,590 65,501 321,340 ( 143,750 ) 154,493 10,743

KENYA ORIENT INSURANCE 1,419,332 14,560 103,825 1,330,067 1,093,495 - 1,227,251 - 1,196,311 685,461 111,436 319,492 79,923 36,526 116,448

MADISON INSURANCE COMPANY 1,394,170 17,859 66,973 1,345,056 1,041,059 - 1,147,815 - 1,238,300 883,222 188,026 283,490 ( 116,438 ) - ( 116,438 )

MAYFAIR INSURANCE COMPANY 1,211,276 41,103 501,066 751,312 422,697 - 495,319 - 678,690 316,066 69,162 156,293 137,169 - 137,169

OCCIDENTAL INSURANCE COMPANY 1,090,264 4,959 389,180 706,043 560,137 - 598,583 - 667,597 342,651 64,957 129,430 130,559 107,135 237,694

PACIS INSURANCE COMPANY 616,902 - 105,550 511,352 348,052 - 432,730 - 426,674 194,750 58,619 178,573 ( 5,267 ) 41,461 36,194

PHOENIX OF EAST AFRICA 202,187 48,418 94,178 156,427 121,669 - 134,774 - 143,321 131,925 19,217 151,472 ( 159,293 ) 107,244 ( 52,048 )

RESOLUTION INSURANCE COMPANY 2,019,864 - 1,350,502 669,361 522,880 34,855 569,121 34,855 623,121 389,693 ( 187,016 ) 505,755 ( 85,311 ) 32,798 ( 52,513 )

SAHAM INSURANCE COMPANY 676,686 2,780 385,638 293,828 217,332 - 233,011 - 278,149 152,115 ( 5,070 ) 150,321 ( 19,218 ) 46,144 26,926

SANLAM GENERAL INSURANCE LIMITED 402,191 5,893 77,208 330,877 206,775 - 261,991 - 275,660 93,410 25,535 182,283 ( 25,568 ) 43,668 18,100

TAKAFUL INSURANCE OF AFRICA 523,421 - 181,135 342,286 354,266 - 387,997 - 308,555 126,645 7,614 161,434 12,863 - 12,863

TAUSI ASSURANCE COMPANY 555,048 11,100 174,400 391,747 189,478 - 290,745 - 290,480 159,712 29,356 91,269 10,144 - 10,144

THE KENYAN ALLIANCE INSURANCE 500,451 2,579 32,414 470,617 478,631 - 444,853 - 504,395 325,960 50,547 147,609 ( 19,720 ) 51,943 32,223

THE MONARCH INSURANCE 428,507 14,519 44,474 398,553 253,859 - 346,450 - 305,962 114,760 17,833 158,208 15,160 - 15,160

TRIDENT INSURANCE COMPANY 535,320 19,527 215,502 339,345 294,893 - 319,901 - 314,337 65,350 ( 6,427 ) 168,400 87,013 - 87,013

UAP INSURANCE COMPANY 5,277,180 51,191 554,649 4,773,722 2,934,218 - 3,699,468 - 4,008,472 2,847,194 366,469 917,628 ( 122,819 ) - ( 122,819 )

XPLICO INSURANCE COMPANY 712,741 - 48,734 664,007 527,953 - 296,320 - 895,640 428,962 44,726 357,289 64,663 - 64,663

TOTAL 62,958,035 946,795 15,881,376 48,023,459 33,848,374 175,068 38,775,798 120,646 43,150,459 26,880,590 3,522,938 12,317,846 429,090 2,566,133 2,995,224

CONTINENTAL REINSURANCE - 681,462 64,028 617,434 303,870 - 272,585 - 648,719 304,898 204,617 79,015 60,189 28,617 88,806

EAST AFRICA REINSURANCE - 1,418,482 65,752 1,352,730 859,557 - 851,960 - 1,360,326 833,880 397,263 109,830 19,353 227,870 247,223

KENYA REINSURANCE CORPORATION - 5,994,662 342,335 5,652,327 4,407,392 - 4,611,349 - 5,448,371 3,103,671 1,550,975 436,240 357,485 1,427,004 1,784,489

TOTAL - 8,094,606 472,115 7,622,491 5,570,819 - 5,735,894 - 7,457,416 4,242,449 2,152,855 625,085 437,027 1,683,491 2,120,518

APPENDIX 15: SUMMARY OF GENERAL INSURANCE BUSINESS REVENUE ACCOUNTS FOR THE PERIOD ENDED 30.06.2016

INSURERS

REINSURERS



16

Company

APA LIFE

ASSURANCE

COMPANY BARCLAYS LIFE

BRITAM LIFE

ASSURANCE

CANNON

ASSURANCE

COMPANY

CAPEX LIFE

ASSURANCE

COMPANY

CIC LIFE

ASSURANCE

COMPANY

CONTINENTAL

REINSURANCE

CORPORATE

INSURANCE

COMPANY

EAST AFRICA

REINSURANCE

FIRST

ASSURANCE

COMPANY

Share Capital 450,000 450,000 880,000 150,000 150,000 800,000 300,000 150,000 500,000 150,000

Share Premium - - - - - - - - - -

Revaluation Reserves ( 2,091 ) 1,380 5,364,888 - 778 - ( 919 ) - 406,961 -

Statutory Reserves 195,853 ( 372,735 ) - 354,547 42,671 822,876 21,057 - - 142,519

Retained Earnings ( 23,710 ) 2,642 1,754,177 - - 135,178 - 103,918 - -

Other Reserves 14,058 - ( 420,000 ) 429,968 48,793 ( 127,018 ) 93,313 - - -

Total Equity 634,111 81,287 7,579,065 934,515 242,241 1,631,036 413,450 253,918 906,961 292,519

Underwriting Provisions 112,071 - 624,750 67,924 6,545 397,777 29,108 11,083 - 4,080

Actuarial Contract Liabilities 2,886,193 675,287 36,862,707 492,834 52,214 4,798,529 - 563,018 228,869 17,769

LongTerm Liabilities 28,057 - 2,778,342 181,243 153,977 445,633 39,595 - 174,412 61,380

Current Liabilities 43,501 268,460 1,377,817 55,980 14,556 567,092 26,975 52,761 174,133 10,663

Total Equity And Liabilities 3,703,933 1,025,033 49,222,681 1,732,496 469,533 7,840,067 509,128 880,780 1,484,374 386,411

Land And Buildings - - 496,781 107,795 - - - - - -

Investment Property 295,000 - 3,779,774 813,235 394,785 1,992,994 - 324,000 - 77,500

Other Fixed Assets 15,958 25,089 625,189 15,634 4,938 177,896 - 699 - 61

Government Securities 1,582,077 766,594 13,000,903 393,070 63,646 2,073,913 259,094 145,929 521,164 148,774

Other Securities 15,962 - - - - 659,321 - - - -

Investment in Related Companies - - 4,272,203 - - - - - - -

Corporate Bonds 92,120 - 785,164 18,921 - 336,961 41,815 - 52,852 -

Commercial Papers 55,572 - 216,877 - - - - - - -

Debentures - - - - - - - - - -

Ordinary Shares Quoted 536,441 - 5,547,914 120,396 3 363,679 22,711 1,556 43,879 4,945

Ordinary Shares Unquoted 30,954 - 78,039 5,291 - 13,050 - 1,469 - -

Preference Shares Quoted - - - - - - - - - -

Preference Shares Unquoted - - - - - - - - - -

Loans Secured & Unsecured 13,864 - 695,183 16,645 - 243,921 1,000 55,733 - -

Mortgages - - 1,043,560 95,374 - 196,268 - - - -

Term Deposits 821,222 43,404 1,886,176 51,254 - 602,269 120,333 258,874 735,368 116,600

Cash and Cash Balances 77,704 115,290 379,484 11,473 169 151,564 13,430 57,951 79,718 23,040

Outstanding Premiums 110,743 34,878 579,403 5,340 4,526 638,885 26,201 1,924 42,985 12,888

Other Receivables 32,532 39,779 2,733,098 - - 361,472 - 32,646 6,790 1,202

Other Assets 5,641 - 12,079,147 76,165 1,460 - 24,543 - 338 1,401

Intangible Assets 18,142 - 1,023,785 1,902 6 27,874 - - 1,279 -

Total Assets 3,703,933 1,025,033 49,222,681 1,732,496 469,533 7,840,067 509,128 880,780 1,484,374 386,411

APPENDIX 16: SUMMARY OF LONG TERM INSURANCE BUSINESS BALANCE SHEETS AS AT 30.06.2016

Amounts in Thousand Shillings Continued next page


Company

GA LIFE

INSURANCE

COMPANY

GEMINIA

INSURANCE

COMPANY

ICEA LION LIFE

ASSURANCE

COMPANY

JUBILEE

INSURANCE

COMPANY

KENINDIA

ASSURANCE

COMPANY

KENYA ORIENT

LIFE

ASSURANCE

KENYA

REINSURANCE

CORPORATION

LIBERTY LIFE

ASSURANCE

MADISON

INSURANCE

COMPANY

METROPOLITAN

LIFE ASSURANCE

Share Capital 200,000 150,000 450,000 500,000 161,388 150,000 - 612,340 150,000 416,725

Share Premium - - - - - - - - - 491,068

Revaluation Reserves - - - - - - - 311,465 - -

Statutory Reserves 151,007 - 5,585,555 3,444,793 318,516 - 3,245,343 1,687,689 1,388,022 -

Retained Earnings 9,563 - 1,984,829 990,834 111,555 ( 136,238 ) - ( 341,975 ) 62,000 ( 864,173 )

Other Reserves - - - - 2,054,852 - - - - -

Total Equity 360,570 150,000 8,020,384 4,935,627 2,646,311 13,762 3,245,343 2,269,518 1,600,022 43,620

Underwriting Provisions 300 21,393 104,188 655,527 - - - 448,259 88,832 39,337

Actuarial Contract Liabilities 3,191,676 - 43,642,797 42,966,261 20,646,105 487,192 2,179,836 19,691,134 6,110,274 599,289

LongTerm Liabilities 1,584 - 1,185,009 63,508 4,104 - - 856,780 457,300 -

Current Liabilities 29,891 493,341 468,733 1,162,179 794,366 19,534 1,353,198 513,556 44,039 64,855

Total Equity And Liabilities 3,584,021 664,735 53,421,111 49,783,101 24,090,886 520,488 6,778,377 23,779,248 8,300,467 747,101

Land And Buildings - - - - 1,180,745 - - 466,112 - -

Investment Property 973,916 - 9,209,949 3,945,505 1,617,760 - 1,300,000 1,189,500 3,975,000 -

Other Fixed Assets 830 - 150,259 31,869 17,986 15,227 - 143,215 63,878 5,122

Government Securities 2,066,394 280,300 32,958,954 27,504,687 20,234,848 137,745 2,272,706 13,195,459 1,449,350 341,744

Other Securities - - - - - - - - 55,851 -

Investment in Related Companies - - 676,490 1,743,296 - - - - - -

Corporate Bonds 143,611 3,000 1,442,841 1,613,460 - 32,242 - 2,264,461 106,751 111,418

Commercial Papers - - - - 105,260 - - - 85,043 -

Debentures - - - - 52,750 - - - - -

Ordinary Shares Quoted 38,031 - 5,494,427 5,862,080 193,608 - - 2,192,533 155,838 66,956

Ordinary Shares Unquoted - - - 2,060,543 675 17,000 - 393,000 1,428,628 -

Preference Shares Quoted - - 1,203 - - - - - - -


Loans Secured & Unsecured 259 - 425,507 622,207 90,817 10,000 - 1,144,015 123,097 1,759

Mortgages - - 372,984 - 4,813 - - 344,948 28,301 -

Term Deposits 325,020 342,614 2,079,790 5,420,508 441,038 133,425 2,946,591 1,507,061 371,048 68,269

Cash and Cash Balances 27,431 20,455 79,680 122,344 35,115 103,699 95,937 261,298 65,913 13,500

Outstanding Premiums - - 33,600 612,858 - 23,236 163,143 269,566 89,930 81,048

Other Receivables - - 371,957 240,755 92,250 - - 55,828 301,840 14,288

Other Assets 8,528 18,365 94,964 - - 44,783 - 265,741 - 22,284

Intangible Assets - - 28,506 2,989 23,221 3,132 - 86,509 - 20,714

Total Assets 3,584,021 664,735 53,421,111 49,783,101 24,090,886 520,488 6,778,377 23,779,248 8,300,467 747,101

Continued from previous page

Amounts in Thousand Shillings Continued next page


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Company

OLD MUTUAL

ASSURANCE

COMPANY

PIONEER

ASSURANCE

COMPANY

PRUDENTIAL

LIFE ASSURANCE

SAHAM

INSURANCE

COMPANY

SANLAM LIFE

ASSURANCE

TAKAFUL

INSURANCE OF

AFRICA

THE KENYAN

ALLIANCE

INSURANCE

THE MONARCH

INSURANCE

COMPANY

UAP LIFE

ASSURANCE

COMPANY

TOTAL

Share Capital 2,174,871 150,000 250,000 150,000 200,000 150,000 150,000 154,976 1,130,456 11,280,756

Share Premium 1,884,957 - 369,064 - 30,260 - - - 8,637 2,783,986

Revaluation Reserves - - - 4,131 - - - - 27,534 6,114,127

Statutory Reserves - 315,564 ( 625,618 ) - 2,302,243 28,512 6,000 23,044 ( 95,942 ) 18,981,516

Retained Earnings ( 1,106,707 ) 225,230 - 893 ( 782,213 ) - 18,282 - 130,259 2,274,344

Other Reserves - - 399,764 - - - - 151,510 - 2,645,240

Total Equity 2,953,121 690,794 393,210 155,024 1,750,291 178,512 174,282 329,530 1,200,944 44,079,968

Underwriting Provisions 465,592 743,566 132,769 11,518 - - 42,434 61,797 676,938 4,745,788

Actuarial Contract Liabilities 9,537,344 1,465,421 402,772 1,019,319 20,335,661 79,151 1,478,421 125,040 8,172,004 228,707,117

LongTerm Liabilities - 140,842 - 1,474 690,708 - 7,835 - - 7,271,783

Current Liabilities 739,478 160,751 78,424 26,152 845,945 5,201 55,310 80,261 252,958 9,780,110

Total Equity And Liabilities 13,695,535 3,201,373 1,007,174 1,213,486 23,622,605 262,864 1,758,281 596,629 10,302,845 294,584,763

Land And Buildings 981,541 - - - - - - - - 3,232,974

Investment Property 950,000 885,059 - 76,000 1,831,472 - 300,000 234,832 902,391 35,068,672

Other Fixed Assets 93,071 43,313 51,773 4,143 120,106 - 2,412 25,123 29,449 1,663,240

Government Securities 3,093,020 363,680 250,751 696,810 11,844,412 55,000 95,450 74,033 4,699,343 140,569,850

Other Securities 19,303 - - - 706,912 - - - - 1,457,349

Investment in Related Companies - - - - - - - 22,500 - 6,714,489

Corporate Bonds 813,045 - - 67,949 2,691,888 26,678 55,679 - 978,112 11,678,968

Commercial Papers - - - - - - - - 235,379 698,131

Debentures - - - - - - - - - 52,750

Ordinary Shares Quoted 3,600,939 28,221 - 13,012 2,793,939 - - - 1,864,621 28,945,729

Ordinary Shares Unquoted 478,372 - - - - - - - 13,280 4,520,301

Preference Shares Quoted - - - - - - - - - 1,203


Loans Secured & Unsecured 253,416 103,076 12,468 8,924 22,795 - 12,883 - 13,874 3,871,443

Mortgages 28,435 - - - 355,307 - - - 67,249 2,537,239

Term Deposits 1,749,895 379,629 - 255,779 2,383,890 86,363 1,008,844 - 711,888 24,847,152

Cash and Cash Balances 203,869 236,470 635,758 7,504 166,155 5,461 - 194 73,186 3,063,792

Outstanding Premiums 62,922 892,514 7,472 6,217 247,907 46,547 32,872 87,642 397,958 4,513,205

Other Receivables 1,222,746 194,782 5,164 - - 22,179 - - 72,214 5,801,522

Other Assets 139,185 60,235 23,784 77,147 356,318 20,635 250,141 150,000 243,901 13,964,706

Intangible Assets 5,775 14,393 20,005 - 101,502 - - 2,304 - 1,382,038

Total Assets 13,695,535 3,201,373 1,007,174 1,213,486 23,622,605 262,864 1,758,281 596,629 10,302,845 294,584,763


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17

Company

AAR

INSURANCE

KENYA

AFRICAN

MERCHANT

ASSURANCE

COMPANY

AIG

INSURANCE

COMPANY

ALLIANZ

INSURANCE

COMPANY

APA

INSURANCE

COMPANY

BRITAM

GENERAL

INSURANCE

COMPANY

CANNON

ASSURANCE

COMPANY

CIC GENERAL

INSURANCE

COMPANY

CONTINENTAL

REINSURANCE

CORPORATE

INSURANCE

COMPANY

Share Capital 400,000 987,386 450,000 1,000,000 1,250,000 2,668,000 300,000 1,700,000 500,000 400,000

Share Premium 600,523 - - - - - - - - -

Revaluation Reserves - - ( 20,378 ) - - - - ( 73,573 ) ( 2,270 ) -

Statutory Reserves - - - - - - - - - -

Retained Earnings ( 164,033 ) 650,339 1,388,904 45,972 3,296,723 209,704 263,782 2,954,872 215,033 550,162

Other Reserves - 12,502 - - 420,363 - - - - -

Total Equity 836,490 1,650,226 1,818,526 1,045,972 4,967,086 2,877,704 563,782 4,581,300 712,763 950,162

Underwriting Provisions 2,468,954 1,951,287 1,938,623 6,064 8,886,670 6,323,279 1,528,040 6,549,478 458,754 227,162

Actuarial Contract Liabilities - - - - - - - - - -

LongTerm Liabilities - - - - - - - - - -

Current Liabilities 271,642 169,532 1,340,523 2,336 887,008 790,845 257,681 117,992 204,525 228,293

Total Equity And Liabilities 3,577,086 3,771,045 5,097,672 1,054,373 14,740,764 9,991,828 2,349,503 11,248,769 1,376,042 1,405,616

Land And Buildings - 49,797 - - - 28,763 105,551 217,250 - -

Investment Property - 510,000 600,000 - 1,160,000 - 266,000 1,464,640 - 780,000

Other Fixed Assets 96,288 95,450 63,334 4,990 106,652 204,360 34,546 284,171 19,892 4,269

Government Securities 605,408 455,626 2,604,159 50,345 5,670,188 4,833,595 333,083 1,387,401 403,088 178,900

Other Securities - - - - - - - 277,193 - -

Investment in Related Companies - - - - 573,974 215,588 30,000 - - -

Corporate Bonds 108,977 18,843 - - 282,381 518,291 32,425 245,703 65,233 -

Commercial Papers - - - - 13,547 - - 170,459 - -

Debentures - - - - - - - - - -

Ordinary Shares Quoted - 17,714 - - 1,932,682 504,037 426,525 402,825 39,972 1,712

Ordinary Shares Unquoted - - - - 52,025 16,001 303,909 24,563 - 1,469



Loans Secured & Unsecured - 19,595 18,948 - 56,730 - 14,208 329,939 3,437 -

Mortgages - - - - 42,106 - 34,244 - 26,252 -

Term Deposits 1,067,402 1,319,415 244,775 - 1,899,343 965,865 138,441 1,390,546 170,540 118,440

Cash and Cash Balances 15,855 167,545 222,200 912,255 150,676 582,180 21,302 347,560 33,989 50

Outstanding Premiums 1,526,108 902,444 1,042,273 8,883 2,193,770 525,919 329,402 3,793,837 580,598 253,615

Other Receivables 124,805 25,819 77,210 - 91,179 839,769 164,363 318,274 - 38,004

Other Assets - 172,630 177,765 77,900 173,081 165,254 35,414 130,811 33,040 21,883

Intangible Assets 32,245 16,166 47,010 - 342,431 592,206 80,090 463,598 - 7,275

Total Assets 3,577,086 3,771,045 5,097,672 1,054,373 14,740,764 9,991,828 2,349,503 11,248,769 1,376,042 1,405,616

APPENDIX 17: SUMMARY OF GENERAL INSURANCE BUSINESS BALANCE SHEETS AS AT 30.06.2016

Amounts in thousand Shillings Continued next page


Company

DIRECTLINE

ASSURANCE

COMPANY

EAST AFRICA

REINSURANCE

COMPANY

FIDELITY

SHIELD

INSURANCE

COMPANY

FIRST

ASSURANCE

COMPANY

GA GENERAL

INSURANCE

COMPANY

GEMINIA

INSURANCE

COMPANY

LIMITED

HERITAGE

INSURANCE

COMPANY

ICEA LION

GENERAL

INSURANCE

COMPANY

INTRA-AFRICA

ASSURANCE

COMPANY

INVESCO

ASSURANCE

COMPANY

Share Capital 300,000 1,000,000 600,000 660,000 450,000 550,000 500,000 1,000,000 400,000 1,680,000

Share Premium - - - 512,139 - - - - - -

Revaluation Reserves ( 80,448 ) 212,620 97,920 137,417 829,766 578,992 - 339,959 319,752 284

Statutory Reserves - - - - - - - ( 200,000 ) - -

Retained Earnings 610,909 1,101,994 359,308 964,341 1,487,598 262,644 1,779,479 2,095,339 96,452 ( 1,257,045 )

Other Reserves - 9,385 - - 231,859 55,222 - 200,000 7,500 -

Total Equity 830,462 2,323,999 1,057,228 2,273,896 2,999,223 1,446,857 2,279,479 3,435,298 823,704 423,239

Underwriting Provisions 4,143,491 2,258,139 1,600,632 2,402,778 4,420,813 2,320,729 2,979,717 4,728,851 858,111 2,545,628


LongTerm Liabilities - 99,979 5,834 - - 887 - 539,945 - 96,064

Current Liabilities 44,662 1,280,482 182,670 644,256 1,529,899 199,839 340,653 636,429 53,599 76,083


Land And Buildings - 389,206 263,259 185,500 1,156,500 19,484 - - 130,020 75,489

Investment Property 1,189,889 765,852 1,087,795 1,325,000 1,395,230 973,000 29,375 2,590,000 288,660 1,178,480


Government Securities 991,674 916,116 254,135 890,560 1,696,034 661,200 2,390,013 3,292,933 225,450 196,000

Other Securities - - - - - - - 40,000 - -

Investment in Related Companies 163,460 - - 52,929 308,827 - 121,369 50,147 - -

Corporate Bonds - 363,117 - 63,479 289,548 24,300 193,325 285,117 - -

Commercial Papers - - - - 10,182 - - - - -

Debentures - - - - - - - - - -

Ordinary Shares Quoted 163,503 108,878 98,021 40,452 373,959 159,713 128,943 775,480 72,349 2,357

Ordinary Shares Unquoted - - - - 210,786 6,088 - 15,538 - -



Loans Secured & Unsecured 14,929 3,776 7,029 19,017 283,625 52,967 61,453 - - -

Mortgages - 40,798 27,095 - - - 272,451 - 12,733 -

Term Deposits 1,244,546 1,859,337 156,431 1,471,036 1,141,368 730,005 831,250 532,688 266,151 352,132

Cash and Cash Balances 789,876 58,896 54,879 94,880 - 141,605 180,542 9,502 29,760 104,514

Outstanding Premiums - 876,812 689,126 866,730 1,571,789 426,202 994,633 860,189 555,817 398,519

Other Receivables - 147,976 - 18,468 30,040 20,363 48,524 94,698 87,371 300,403

Other Assets 256,968 54,672 110,565 201,796 83,853 718,165 227,089 323,102 - -

Intangible Assets 95,801 373,412 58,518 67,029 362,795 1,890 19,455 318,950 44,413 470,591

Total Assets 5,018,614 5,962,599 2,846,363 5,320,930 8,949,936 3,968,313 5,599,848 9,340,523 1,735,413 3,141,014





Company

JUBILEE

INSURANCE

COMPANY

KENINDIA

ASSURANCE

COMPANY

KENYA

ORIENT

INSURANCE

COMPANY

KENYA

REINSURANCE

CORPORATION

MADISON

INSURANCE

COMPANY

MAYFAIR

INSURANCE

COMPANY

OCCIDENTAL

INSURANCE

COMPANY

PACIS

INSURANCE

COMPANY

PHOENIX OF

EAST AFRICA

ASSURANCE

RESOLUTION

INSURANCE

COMPANY

Share Capital 2,000,000 400,000 810,721 1,749,873 300,000 525,000 693,000 303,000 300,000 330,000

Share Premium - 1,198 - - - - - 17,712 - 270,000

Revaluation Reserves 290,741 85,750 391,005 4,049 - 408,435 1,506 ( 1,219 ) 85,492 ( 3,251 )

Statutory Reserves - - - - - - - - - -

Retained Earnings 3,556,350 1,610,821 156,382 17,022,434 640,269 811,377 430,454 391,819 1,054,900 ( 442,481 )

Other Reserves - 289,427 50,000 1,063,938 - - - 55 - -

Total Equity 5,847,091 2,387,195 1,408,107 19,840,293 940,269 1,744,812 1,124,960 711,367 1,440,392 154,268

Underwriting Provisions 6,843,241 2,706,009 1,488,672 9,754,954 1,658,229 1,697,022 1,352,285 1,063,105 320,230 899,406


LongTerm Liabilities - 81,251 72,041 - - - 1,044 14,300 - -

Current Liabilities 215,493 1,016,210 182,208 995,341 68,412 374,502 106,941 62,910 131,095 773,071


Land And Buildings - 635,623 78,464 28,098 - 202,545 - 75,500 - -

Investment Property - 1,022,868 429,152 6,751,456 567,000 412,038 441,683 745,325 - -


Government Securities 3,386,613 1,542,923 173,110 7,986,271 370,769 430,378 741,260 142,259 382,500 138,112

Other Securities - - - - 1,520 - - - - -

Investment in Related Companies 1,641,201 81,905 170,000 3,542,365 - 372,222 - - 143,807 -

Corporate Bonds 25,130 52,750 5,248 495,519 23,381 128,133 32,731 - - -

Commercial Papers - 40,927 - - 46,885 - - - - -

Debentures - - - - - - - - - -

Ordinary Shares Quoted 1,296,793 72,003 5,081 2,343,119 11,061 187,084 111,234 1,603 192,128 -

Ordinary Shares Unquoted 579,425 211,542 1,070,273 202,231 244,951 493,378 100,825 1,420 - -

Preference Shares Quoted 411 - - 86 - - - - - -


Loans Secured & Unsecured 34,977 - - - 2,371 10,080 - - 5,329 -

Mortgages 70,962 - - 670,386 - - - - - -

Term Deposits 412,815 613,445 68,147 2,265,433 175,569 924,050 424,580 59,215 524,708 102,074

Cash and Cash Balances 200,597 220,818 34,881 287,614 111,334 81,348 60,703 4,467 5,471 25,831

Outstanding Premiums 3,872,492 462,942 747,308 3,545,988 843,505 250,102 541,957 605,785 256,848 500,093

Other Receivables 717,968 - 23,224 650,500 70,006 - 53,556 162,107 82,072 487,332

Other Assets 213,198 1,132,836 128,109 357,815 3,384 241,514 11,687 - 206,035 157,078

Intangible Assets 411,151 1,061 164,234 1,374,978 141,828 17,999 29,320 12,342 56,560 244,781

Total Assets 12,905,825 6,190,665 3,151,028 30,590,588 2,666,911 3,816,336 2,585,230 1,851,681 1,891,717 1,826,744



Continued from previous page<<BACK NEXT>>


Company

SAHAM

INSURANCE

COMPANY

SANLAM

GENERAL

INSURANCE

LIMITED

TAKAFUL

INSURANCE OF

AFRICA

TAUSI

ASSURANCE

COMPANY

THE KENYAN

ALLIANCE

INSURANCE

COMPANY

THE MONARCH

INSURANCE

COMPANY

TRIDENT

INSURANCE

COMPANY

UAP

INSURANCE

COMPANY

XPLICO

INSURANCE

COMPANY TOTAL

Share Capital 300,000 350,284 470,203 600,000 300,000 316,476 500,000 600,000 887,500 28,531,443

Share Premium - 102,759 50,000 - - - - - - 1,554,331

Revaluation Reserves ( 4,184 ) 54,362 - 152,683 85,660 - 205,130 - 19,670 4,115,870

Statutory Reserves - - - - - - - - - ( 200,000 )

Retained Earnings 170,922 ( 219,397 ) ( 89,068 ) 244,965 1,186,667 67,345 1,626,698 5,468,135 266,023 50,867,091

Other Reserves - - - ( 25,141 ) 2,493 - 25,000 1,389,890 - 3,732,491

Total Equity 466,738 288,008 431,135 972,506 1,574,819 383,822 2,356,828 7,458,026 1,173,193 88,601,226

Underwriting Provisions 450,133 1,514,768 715,387 806,181 1,370,247 602,275 1,431,407 6,850,207 637,146 100,758,103


LongTerm Liabilities - - - - 49,978 - 51,217 - - 1,012,540

Current Liabilities 334,201 259,626 240,365 230,767 232,866 101,018 373,241 1,438,741 294,258 16,690,214


Land And Buildings - - - 270,019 105,000 - 240,660 - 586,500 4,843,228

Investment Property - 1,116,700 21,100 - 1,255,849 420,006 1,716,399 3,582,700 - 34,086,195

Other Fixed Assets 11,574 25,287 41,994 18,931 36,401 8,814 22,103 79,363 143,212 2,571,980

Government Securities 467,250 206,759 30,999 844,350 180,000 138,415 253,549 3,235,053 80,000 48,766,477

Other Securities - - - - - - 16,957 - 103,000 438,669

Investment in Related Companies - - - - - - 1,026,000 - 25,251 8,519,046

Corporate Bonds 64,107 15,000 53,356 25,281 25,650 - 23,750 815,360 - 4,276,135

Commercial Papers - - - - - - - 24,243 - 306,242

Debentures - - - - - - - - - -

Ordinary Shares Quoted 36,797 747 - 192,261 25,537 - 5,342 1,548,267 - 11,278,177

Ordinary Shares UnQuoted - 92,036 - 6,325 - 59 7,985 66,450 - 3,707,277

Preference Shares Quoted - - - - - - - - - 497


Loans Secured & Unsecured 9,992 7,869 - 2,321 10,450 - 246,473 1,199,248 4,916 2,419,680

Mortgages - - - 98,742 - - - 192,499 - 1,488,266

Term Deposits 219,564 159,528 490,286 264,191 741,527 5,393 10,905 914,958 299,833 24,575,931

Cash and Cash Balances 142,161 9,496 291,995 12,987 7,996 12,571 45,439 293,295 9,963 5,777,034

Outstanding Premiums 228,744 217,695 312,850 177,110 689,484 415,531 461,234 1,950,735 593,032 35,070,100

Other Receivables - 16,767 - - 31,277 3,980 98,832 733,484 131,887 5,690,255

Other Assets 48,488 180,610 102,261 27,236 65,012 43,244 23,047 740,259 116,360 6,762,164

Intangible Assets 22,395 13,907 42,047 69,702 53,727 39,101 14,018 371,061 10,643 6,484,728

Total Assets 1,251,072 2,062,402 1,386,887 2,009,455 3,227,910 1,087,115 4,212,693 15,746,974 2,104,597 207,062,083


Amounts in thousand Shillings


Insurance Industry Report for the Period January June 2016 ...

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Transcript of Insurance Industry Report for the Period January June 2016 ...