Estimated Total of KES. 73,029,619,000 was accounted for as gross premium income for the period between May 2019 and June 2019 by General Insurance companies .
Gross premium income refers to the total amount paid by clients purchasing an insurance cover. This amount is paid out directly to the insurance company before deduction of commissions, management expenses and claims settlement.
The total gross premium income grew by 2.9% from KES. 70,098,066 that was recorded in a similar period in 2018. Medical Insurance accounted for the highest source of gross premium income followed by motor commercial insurance and private vehicle insurance. This classes of of insurance also led in the same period in 2018.
The least gross premium income was from Aviation insurance which accounted for KES. 931,386,000. The second least source was fire domestic insurance which accounted for KES. 943,148,000.