Moderating Impact of Underwriting Risk on the Relationship between Firm Specific Factors and Insurance Financial Inclusion in Kenya

Chibole Khalumi Willingtone, Maingi Muli and Oseno Ben

Journal of Accounting and Finance in Emerging Economies, 2026, vol. 12, issue 1, 183-194

Abstract: Purpose: The study further determined the moderating impact of underwriting risk on the relationship between firm specific factors and insurance financial inclusion in Kenya.Design/Methodology/Approach: Longitudinal research design was adopted in guiding time series data with target population of 58 insurance firms of which all were censured. Secondary data was obtained for a 10 year period commencing from 2015-2024 being a period which has witnessed the intermittent performance of the insurance industry, a number of regulatory reforms introduced as well as tax related concerns.Findings: There was a positive statistically significant relationship between firm specific factors and insurance financial inclusion in Kenya (Adj R2 0.4201: p 0.000< 0.05). Underwriting risk had a weak negative significant moderating impact on the relationship between firm specific factors and insurance financial inclusion in Kenya (Adj R2 0.4488: p 0.000< 0.05).Implications/Originality/Value: The study recommends that insurance firms should design policies that will salvage them from underwriting risk such as a clause of remitting considerable premiums for a given claim this will caution from losses as a result of underwriting risk.&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&

Keywords: Underwriting risk; Firm Specific Factors; Financial Inclusion; Insurance Firms (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:src:jafeec:v:12:y:2026:i:1:p:183-194

DOI: 10.26710/jafee.v12i1.3724

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