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Britam blames fraud for loss in Rwanda

Britam Group Managing Director Benson Wairegi (right) with one of the firm’s directors Peter Munga during an Annual General Meeting in Nairobi. [Photo: Elvis Ogina, Standard]

Britam has attributed its poor performance in Rwanda to fraudulent claims on an outpatient insurance cover that saw the subsidiary report a loss during the year to December 2016.

Group Chief Executive Benson Wairegi said the company had already stopped offering the product and taken other measures on the challenge that led to Rwanda being the only operation within the firm’s stable to report losses.

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