An insurance firm has revealed that the Westgate Mall which suffered a terror attack in September 2013 received a Sh. 5 billion compensation pay.
The popular mall came under attack from Al Shabaab militants on September 21 amd left over 70 people dead and millions of property destroyed.
There were also reports that the Kenya military personnel were involved in the looting of expensive items at the mall.
The African Trade Insurance Agency (ATI) announced that the bulk of this payment went to Sony Holdings who owned the building. At least 85 per cent of the Sh. 5 billion payment which was equivalent to around Sh. 4.3 billion was paid to the Westgate owners.
The remaining Sh. 700 million was paid to small businesses and individuals.
“Kenya has so far been very good to us, the only major claim we paid was the Westgate Mall where we spent a big chunk of close to $50 million,” ATI chief executive officer George Otieno said yesterday.
The shopping mall was insured by Lloyd’s of London, ATI and the Kenindia Insurance.
Westgate Mall hosted more than 50 businesses, including Nakumatt Supermarkets, the anchor tenant, several banks amd businesses
ATI paid the massive amount of money to different insurance companies for onward payment to their clients.
Mr Otieno said about 30 small businesses and 15 vehicle owners benefited from the payout.
“The few number of motorists compensated was due to the fact that most had not extended their cover to terrorism,” said ATI’s head of claims and recoveries, Lucy Machel Ondiek.