1. Background

The insurance Industry currently operates with A1949-52 mortality tables, which are rather outdated. Mortality and morbidity rates are used by insurance companies for pricing insurance products and for actuarial valuation of insurance business portfolios. Mortality data is also critical in pension design and valuation. A study on mortality and morbidity can also assist in obtaining data on the impact of HIV/AIDS on insurance. Data on mortality and morbidity is also important at a national level because it facilitates efficient and effective decisions in resource planning and utilization especially in provision of medical services. The main goal of this project was to strengthen the insurance industry in Kenya. The purpose and key output of the project was to develop updated tables on mortality and morbidity. The project commenced on 1st July 2005 .The project entailed an investigation of mortality and morbidity and was completed in September 2007.The project was funded by FIRST Initiative (FIRST is a multi donor grant facility providing technical assistance to promote financial sector deepening).It was conducted over a period of two years in four phases namely:

The project consultant was Alexander Forbes Financial services. Project reports were peer reviewed by Qundiem Consulting of South Africa.

2. Dissemination Workshop

A workshop to disseminate the findings of the study was held on 4 July 2008 and attracted seventy Participants drawn from a wide group of stakeholders including: a) Life Insurance companies in Kenya
b) Insurance Regulatory Authority
c) Reinsurance companies
d) Insurance companies from South Africa, Rwanda and Uganda
e) Actuarial Society of Kenya
f) University of Nairobi
g) Jomo Kenyatta University
h) Central Bureau of Statistics The main objectives of the workshop were:
a) Disseminate the study findings to a wider group of stakeholders
b) Obtain comments from insurance professionals and actuaries on the study findings
c) Obtain suggestions on the best ways of adopting the tables for use by insurers, reinsurers, actuaries and regulators
d) Act as a forum for exchange of ideas on future mortality investigations by various stakeholders. The workshop will be highly participatory and sufficient time is provided for questions and comments.

3. Publication of the Tables

Commutation functions (The KE 2001-2003 TABLES FOR ASSURED LIVES) have been prepared. Plans are underway to publish the tables. The published tables will be presented to IRA and other industry stakeholders.