East African underwriters await marine insurance dividend
Cargo ship at the port of Mombasa. Insurance companies in the region are now eyeing a $170 million marine insurance dividend following the Kenya National Treasury’s directive to cargo importers to insure with local insurers from January 1, 2017 when the new law takes effect. PHOTO | FILE
Insurance companies in the region are now eyeing a $170 million marine insurance dividend following the Kenya National Treasury’s directive to cargo importers to insure with local insurers from January 1, 2017 when the new law takes effect.
The new requirement comes at a time importation of high worth equipment and raw materials is expected to increase as a result of the massive infrastructure projects underway in the East and Central African regions.
