Kenya's insurance industry saw a significant drop in reported fraud cases in Q4 2024, coinciding with a nearly quadruple increase in industry profits during the same period. This positive trend is attributed to stricter supervision and robust enforcement efforts.

• Only 29 fraud cases were reported between October and December 2024, down from 58 in the same period of 2023.
• The industry's profit after tax surged to Ksh52.1 billion, from Ksh13.3 billion in the prior year.
• The Insurance Regulatory Authority (IRA) noted that the drop in fraud cases indicates tighter supervision and stronger collaboration within the sector, with profits boosted by a 61% rise in investment income from government securities.