Raising a toast to business partners
Kenya Reinsurance Corporation Ltd (Kenya Re) held a cocktail to appreciate and recognise insurance professionals and practitioners as key business partners who have immensely contributed to the growth of the corporation, both locally and internationally.
The event was held at the Sankara hotel on 2nd November 2016, during which Kenya Re’s Managing Director, Mr Jadiah Mwarania, announced that the corporation was due to launch its Zambia regional office.
The new regional hub based in Lusaka City, launched on 9th November 2016, will serve Namibia, Zambia, Zimbabwe, Botswana, Mozambique, Lesotho, Swaziland Malawi and Angola. This move will boost business growth and strengthen Kenya Re’s business relationship in Southern Africa, as well as transfer its expertise, experience, innovative reinsurance services, risk management and customised solutions to the Southern Africa markets.
Through this, Kenya Re seeks to ultimately increase reinsurance capacity for insurance companies in Africa.
Kenya Re recently posted Ksh2.1 Billion in the pre-tax profits for the 2016 half-year financial results, attributing the outcome to efforts made in expanding the reinsurance business locally and internationally.
According to Mr. Mwarania, the corporation’s customer centricity strategic pillar called for network expansion and alignment with the evolving needs of its clientele.
“We are pleased to launch our Zambia regional hub in the hope of expanding our existing and new business opportunities within Southern Africa. Our success will be premised on our expertise and market knowledge, amplified by the outstanding human resource capacities,” said Mr. Mwarania.
The Managing Director added that Kenya Re anticipated great success and growth, especially tapping the new Zambia Government trade strategy for local and international investment.
In his inaugural speech, the new president of Zambia Edgar Chagwa, called for economic diversification through progressive commercial diplomacy that would attract foreign and local trade investment. Zambia has previously held a mono economy, mostly reliant in copper mining.