Determinants of Financial Performance of Insurance Companies: Empirical Evidence Using Kenyan Data

The drivers of financial success the insurance industry are interest to several players in any economy including government; policymakers; policyholders; and investors. In Kenya; there have been relatively few studies on this topic; most which look at narrow elements that determine companies’ performance. This article sought explore components contributing performance firms. We employed a sample consisting 37 general insurers 16 life for period running from 2009 2018 utilised panel data methods order establish determinants Kenyan insurers. pooled OLS; fixed effects random models were estimated with measures (proxied by either ROA or ROE) as dependent variables. results study documented insurer size positively related. also found was negatively related age variable. unraveled higher leveraged companies performed better than their lowly geared peers. provides broad analyses various Kenya. findings contribute academic literature sector Kenya Africa whole. Furthermore; it gives pointers management aspects business would need greater attention drive sustain superior