Insurance industry’s Gross Written Premiums increase
Published On January 25, 2024 » 443 Views» By Times Reporter » Business, Stories
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By KETRA KALUNGA –
THE Insurance industry has recorded a Gross Written Premiums (GWP) increased by 22 per cent to slightly over K7 billion in 2023 from K6 billion recorded at the end of fourth quarter of 2022.
Pensions and Insurance Authority (PIA) has projected the Industry will contribute 1.2 per cent to Gross Domestic Product (GDP) in 2023, remaining steady from 2022.
PIA Communications Manager Doreen Kambanganji said during the same period, GWP for long-term insurance business increased by 20 per cent while general insurance business increased by 40 per cent.
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