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Originally published by The Standard Business
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June 30, 2026
7h ago

Relief for the shilling as local underwriters take on marine cargo insurance

Relief for the shilling as local underwriters take on marine cargo insurance

Kenya's new requirement for locally underwritten marine cargo insurance is expected to support the shilling, retain insurance premiums in the country and simplify cover for importers...

✨ Key Highlights

The Kenyan shilling is expected to receive a boost as local underwriters begin offering marine cargo insurance for imports, effective July 1.

  • Local insurance firms are joining forces to provide covers up to Sh4 billion.
  • This directive is mandated by the Finance Act, 2017 and amendments to the Marine Insurance Act.
  • The move requires all importers to utilize the expertise of local underwriters for their marine cargo.

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