Calculating risk based capital requirement using correlation method
Omar, Farooq Idle
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Kenya has 49 insurers, five re-insurers and almost 200 brokers in a country where about 3 percent of the population has cover. A lack of proper risk management has seen many insurers in Africa become insolvent. Kenya, for example, has seen at least seven insurers in the last decade being placed under statutory management, and eventually liquidated, due to inadequate capital. In view of this, this project will examine risks that affect capital calculation of a life insurance company in Kenya.