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Why Kenya has few micro insurers

The Insurance Regulatory Authority places Xplico Insurance under statutory management and liquidates Invesco Assurance.[Standard, File]

The Insurance Regulatory Authority (IRA) says it has rejected approval requests from several microinsurance firms because their products do not meet the threshold set for the low-income population.

The regulator says some of the providers are simply unbundling already approved conventional products and repackaging them as micro, which negates the sole basis of the 2020 regulations.

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