Ruto Amaco insurance auctioned over sh15m debt

Ruto Amaco insurance auctioned over sh15m debt

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Amaco insurance associated with Deputy President William Ruto was auctioned over sh.15 million debt.

The auctioneers dramatically raided the offices of Africa Merchant Assurance Company (Amaco) on Mombasa Road over claims that it has failed to clear the amount with Mama Rael Medical Clinic.

During the mid-morning surprise raid conducted by Dollar Auctioneers staff and clients were baffled when mean looking men carted away goods at the premises.

However Amaco general manager Ken Kiprop read mischief behind the raid saying the company had agreed to pay Mama Rael Medical Clinic sh1 million by Friday as a proof of commitment that they were ready to offset the claim.

He added that the same matter has given them a lot of headache and promised to have an urgent meeting that will see the issue solved urgently.

Police officers guarded the place as hired men carried away goods including furniture, printers and other office equipment.

According to Insurance Regulatory Authority, Amaco controls 1.69 percent share of Kenyan market and last year alone collected customer premiums amounting to sh2.1 billion.