×
The Standard e-Paper
Stay Informed, Even Offline
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
Agriculture Cabinet Secretary Peter Munya receives a cheque of Sh17 million from Ashok Shah (second right) from Apollo insurance. [File, Standard]
Insurers in Kenya are grappling with effects of Covid-19 amidst new capital adequacy requirements by the Insurance Regulatory Authority (IRA). IRA requires companies to meet 200 per cent (previously 100 per cent) of the Prescribed Capital Ratio (PCR). And while a good number of insurers were compliant by June 30, 2020, others had not. In a directive to all insurers, IRA requires submission of stress and scenario tests, including capital adequacy calculations and liquidity strains to determine the impact of Covid-19.
Subscribe to our newsletter and stay updated on the latest developments and special offers!
join