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Global Hail: Kenya – JD Supra

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Despite these regulatory changes, Kenya’s insurance market has potential for growth. This is likely due in part to the fact that Kenyan farmers continue to excel as prominent exporters of goods (such as tea), and in turn, the need for property and/or agricultural insurance grows as well. As of 2015, the population size of Kenya was 44.9 million. However, according to recent statistics, property and/or casualty insurance only comprises less than thirty-percent of the non-life insurance market. While the imminent legislative changes may bring temporary chaos, the Kenyan insurance market is ripe for growth.
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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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