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Policyholders’ claims, also known as non-liability claims, have surged by a third from Sh29.73 billion.

Fines to insurers for various breaches, including late payment of claims and failure to submit audited accounts tripled to Sh56.9 million.

The competition watchdog has forced 18 insurance companies to pay Sh38 million to 20 vehicle repairers and five motor assessors.

According to the project’s founder David Murimi, they are currently seeking approval from Nema, Warma and other government agencies as they prepare to buy excess hydro power from Kengen.

The leading matatu insurer collected Sh3.1 billion in premiums in the period, giving the company 76.9 percent of the sector market share.

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Matatu owners ditched Xplico Insurance shrinking its market share of the public service vehicle industry by almost two-thirds.

Nine insurers have been fined Sh17.6 million for late payment of claims, failure to submit audited accounts and premium levy payment.