Kenya: Govt retracts proposal to impose 2.5% tax on vehicles

Published on June 1, 2024
The Kenyan government has withdrawn the proposed 2.5% levy on motor vehicles in the Finance Bill 2024 in the face of the tax's likely unfavourable impact on the insurance industry.
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Türkiye: Quake insurance scheme to cover other disasters with effect from the end of June

June 1, 2024
Minister of Treasury and Finance Mehmet Simsek has announced that Türkiye's compulsory earthquake insurance scheme, the Turkish Catastrophe Insurance Pool (TCIP) will be expanded to cover other

Gulf: Floods cause estimated insured losses of as much as US$2.4bn

June 1, 2024
Total insured losses arising from the 2024 Gulf Floods event are estimated to exceed $1.6bn and could reach as high as $2.4bn for the UAE, of which Motor represents ~10%, according to an analysis by