The Policyholders’ Compensation Fund (PCF) has taken control of three struggling insurance companies placed under its statutory management to protect policyholders and stabilize the affected firms. The three insurers affected are Trident Insurance Company Limited, KUSCCO Mutual Assurance Limited, and Corporate Insurance Company Limited. According to PCF, the companies were placed under statutory management, effective
A report by the Capital Markets Authority (CMA) shows that Kenyans are steadily shifting their investments away from Money Market Funds (MMFs), which were previously popular. The report shows that MMFs’ share of Assets Under Management (AUM) has dropped gradually from highs of over 90 percent in the previous years to about 56 percent by
In the Kenyan credit market, the phrase “In Duplum” is often the last line of defense for a borrower drowning in debt. Derived from Latin, meaning “in double,” the rule is a consumer protection cornerstone designed to prevent interest from spiraling out of control. According to the rule, only the principal owing at the time
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