Fitch: Kenyan Insurers Remain an Attractive Target for Foreign Capital

September 7, 2015 11:09 AM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Kenyan Insurance Market here JOHANNESBURG/LONDON, September 07 (Fitch) Fitch Ratings says in a new report that Kenyan insurers' attractiveness for foreign investors has been supported by the relative market sophistication in Kenya, and access to the greater East African region.

Investors' appetite for acquisitions in the insurance market has pushed up valuations significantly. Although premium and profit growth rates may support valuations, Fitch believes that future M&A activity will focus on the consolidation of smaller licences. The agency believes that the Kenyan insur...

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