News and Events

AM BEST AFFIRMS CREDIT RATINGS OF KENYA REINSURANCE CORPORATION LIMITED

AM Best, through a press release published on the Business Wire website on 31st January 2019, write that AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of the Corporation. The outlook of these Credit Ratings is stable.

KENYA RE AT MAANZONI LODGE

Employees are the most valuable assets a company has; ensuring that they are motivated and enjoy a great relationship together, team buildings remain an ideal avenue to facilitate good synergy as well as guarantee better output and productivity. Team building helps foster better and open communication between employees themselves, and also between employees and the higher management. It goes a long way in improving professional relations, understanding and co-operation. Team building makes the team, a unit and improves coordination between its members as this is one of the important goals to be achieved on the way to organizational success

Kenya Re hosts Life Technical Insurance Seminar

The Corporation hosted a Life Technical Insurance seminar at the Sarova Stanley hotel in Nairobi on 3rd and 4th September.  The seminar was attended by over 40 participants from 20 different insurance players from Kenya. Some of the companies represented during the training were Sanlam, Gemina Insurance, and East Africa Insurers among many others. The MD Mr. Jadiah Mwarania thanked the participants and urged them to acquire all the knowledge that they can in order to grow the industry and take it to the next level.

KENYA RE AT THE FOREFRONT IN INTRODUCING NEW FINANCIAL REPORTING STANDARD

Kenya Reinsurance Corporation held a breakfast forum earlier on 30th October 2018 where Deloitte and Fidelity Information Services (FIS) shared joint insight and knowledge on the new International Financial Reporting Standard, IFRS 17. The forum held at the Radisson Blue hotel in Nairobi was graced by insurance stakeholders, clients, regulators and industry bodies. The forum focused on giving an informed overview and demystifying the concepts under IFRS 17.

Kenya Re holds Inaugural Zambia Market cocktail

The Kenya Re. Zambia team hosted their local market clients to an inaugural Market Cocktail event on 12th July, 2018 at the Radisson Blu hotel in Lusaka. The event was graced by Her Excellency, The Kenyan High Commissioner to Zambia Ms. Sophy Kombe. The key note speaker was the Acting Managing Director Mr. Michael Mbeshi who updated the market on the operations of the corporation. Highlighting the 12% growth in the Gross Premiums for 2017 as well as a commitment to high quality service and prompt responses. Reference was made to the decision to place the regional office in Zambia which is strategically located in Southern Africa. 

Kenya Re Records 14% Increase in Investment Income

The Corporation Investment income grew by 14% from Ksh. 1.716 billion in June 2017 to Ksh 1.940 billion in June 2018. The Corporation also reported profit before tax of Ksh 1.756 billion as at 30th June 2018 compared to 2.294 billion as at 30th June 2017, which is 23% lower. Profit after tax was Ksh 1.230 billion compared to Ksh 1.622 billion, which is 24% lower. The Corporation saw a 16% drop in gross premiums written from 7.504 billion as at 30th June 2017 to Ksh. 6.332 billion as at June 30 2018. The Corporation presented the mid fiscal 2018 financial results on 24th August at the Intercontinental Hotel Nairobi.  Present during the event was the Corporation Chairman Mr. David Kemei and Managing Director Mr. Jadiah Mwarania.

Kenya Re holds NON-LIFE seminar in Togo

Kenya Re’s Côte d’Ivoire office held a seminar for the French-speaking countries at Hotel 2 Février, Lomé in Togo from 14th to 16th May 2018. The seminar’s objective was to analyze Kenya Re’s Non-Life General Reinsurance. The main topic of discussion was Fundamentals of Reinsurance which was facilitated by Mr Arthur Levry, Regional General Manager, West Africa Office and Mr Longin Nterere Assistant Manager, International Division Nairobi. All the seminar logistics were done by Lucy Kagwiria, Assistant Manager, West Africa Office. The seminar was officially opened by the Togo Insurance Commissioner, Mr Ayeva Souleymane and Deputy Commissioner Ms Nelly Mongosso’o. There were participants from countries such as Togo, Mali, Ivory Coast, Benin, Burkina Faso and Niger.

 

Launch of PWD Education Integration Programs

The first phase of the 2017 Niko Fiti campaign saw the launch of the Niko Fiti PWDs Education integration program in Lenana Boys and Moi Girls Isinya which are aimed at promoting inclusion and opportunity for students living with disability to join reputable secondary schools in 2018. The program involves modification of the school’s facilities to ensure access, mobility and integration of students with various disabilities in the institutions.

 

The Corporation engaged and partnered with the Ministry of Education to identify the schools to be integrated. “The integration process by the ministry of education will help create equal educational opportunities for all in this country thus empowering more people especially those living with disabilities to reach their dreams and strive to achieve more. The integration process develops an appreciation factor in that everyone has unique characteristics and abilities,” added the Chairman Mr. David Kemei.

KENYA RE RECORDS 3.5 BILLION PROFIT

The core purpose of an Investor’s Briefing in a Business to Business (B2B) organization is to maintain strong, transparent relationships with investors. The Corporation held its Full Year Investor Briefing on 29th March 2018 from 7:00 am at the Hilton Hotel, Nairobi. The purpose of Investor Briefings has been to improve the growth of business and create awareness and transparency to shareholders and interested parties. 

Kenya Re hosts NON-LIFE REINSURANCE seminar

The Corporation held a Non-Life Reinsurance seminar that attracted over 60 participants from over 20 insurance companies from Kenya and beyond, notable were the participants from alBaraka Insurance Company from Khartoum Sudan.  The seminar was held at the Sarova Stanley hotel in Nairobi and took place 0n 5th and 6th September. The opening ceremony was graced by Kenya Re MD Mr. Jadiah Mwarania who thanked the local insurance companies for supporting Kenya Re over the years not only through their business but also by trusting the Corporation with their staff to train on different issues affecting the industry.

Copyright © 2019 Kenya Reinsurance Corporation. All Rights Reserved.Nairobi, Kenya, Tel. +254 703 083 000, +254 20 220 2000, Email: kenyare@kenyare.co.ke, (+254703083210 & +254703083212 Complaints Office), ( +254703083241/+254703083303 Corruption reporting lines).