Multibillion Insurance Company in Kenya Owned by Dp William Ruto: Kenya’s deputy president William Ruto is no doubt a rich man by all means. He has multi-billion companies spread cross many sectors of the country’s economy. For a long time now, politicians of the country have formed a major percentage of the rich people in the country. Close to 80% of the country’s billionaires are politicians. That aside, this article seeks to explore the lucrative Insurance company that Dp Ruto owns. Take a look.
Amaco Insurance company is one of those companies that have earned Dp Ruto a top slot in the country’s rich people. Amaco Insurance was established around 24 years back. Critics have insinuated that the entity was facing tough economic times and was at the verge of collapsing after Kenyans filed a petition at the High court seeking its liquidation.
With Silas Simatwo being the chairman of the Amaco Insurance, the company has been severally linked to Dp Ruto who is said to own a substantial amount of shares in it, and might be the leading owner of the company.
The Africa Merchant Assurance Company (Amaco) risked closure after petitioners filed petitions wanting it to be liquidated for late settlement of claims with the industry regulator. The company had also been accused of non settlement of claims from customers.
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