The premium income reported under life insurance business amounted to Sh61.26 billion while that under general business was Sh112.00 billion.
Analysts say this is the slowest growth for premiums in the last five years comparing to a growth of 20.3 percent and 20.4 percent in 2014 and 2013 respectively.
Standard Investment Bank Research says the medical insurance business will continue to be the fastest growing segment driven by retail business due to the rise in healthcare expenses.
Net profit for the life business went down by 72 percent to Sh1.9 billion compared to Sh7 billion recorded in 2014 while general business net profit went down by 24 percent to Sh7.7 billion down from Sh10 billion same period previous year.
The insurance industry asset base stood at Sh478.75 billion as at the end of 2015 representing a growth of 12.3 percent from Sh426.31 billion held as at the end of 2014.
Investments formed the largest proportion of assets at Sh390.23 billion, 81.5 percent of total industry assets.
