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{
    "id": 234942,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/234942/?format=api",
    "text_counter": 85,
    "type": "speech",
    "speaker_name": "Mr. Kenneth",
    "speaker_title": "",
    "speaker": {
        "id": 167,
        "legal_name": "Peter Kenneth",
        "slug": "peter-kenneth"
    },
    "content": "Mr. Speaker, Sir, there was a court order on 22nd March, 2002, shifting the closed Life Fund of Kenya National Assurance Company (KNAC), which was in liquidation, to the Kenya National Assurance Company 2001, together with all its assets and actuarial liabilities. Following the said transfers, the new company took assets amounting to Kshs2.2 billion and actuarial liabilities of Kshs3.9 billion. Mr. Speaker, Sir, there was a deficit of Kshs1.699 billion in the Fund, which was dealt with by the infusion of funds by the Government to the company. The assets of the company have not been sold. The assets that had been sold that fetched the figure of Kshs836 million included the sale of Bima House, Kenya National Building in Kisumu, Eldoret Stall Complex and the Nakuru manager's house."
}