News and Events

ALCOHOL & DRUG ABUSE MAINSTREAMING COMMITTEE

The Alcohol and Drug Abuse (ADA) Committee is a vibrant team of Kenya Re staff commissioned on 12th July 2016 with a mandate to address issues related to alcohol and drug abuse within the organization. In consultation with management the committee developed a work plan which fits into the different work plans of various departments/divisions.

THE WEEK THAT WAS, CUSTOMER SERVICE WEEK!

Customer Service Week is an international celebration of the importance of customer service and of the people who serve and support customers on a daily basis. In 1992 the U.S. Congress proclaimed Customer Service Week a nationally recognized event, celebrated annually during the first full week in October. The Customer Service Week is an annual event where companies are assessed by judges and awarded based on their score against other organizations. 

Tree planting at Kibiko Secondary School

Over the last three years, Kenya Reinsurance Corporation (Kenya Re) has taken up a CSR initiative at Kibiku Secondary School in Ngong, Kajiado County. The Corporation has engaged the school in tree planting exercises twice every year in the interest of safeguarding afforestation and bringing the school community together.


On 31st October 2016, Kenya Re staff, led by Property & Administration General Manager, Mr. Michael Mbeshi, together with teachers and students of Kibiku Secondary, planted 1500 tree seedlings at the school.


The seedlings were irrigated using a water piping system that was also sponsored by the Corporation to ensure the sustainability of the trees.


Mr. Mbeshi encouraged the students to continue with the initiative even after they leave Kibiku Secondary school, stressing the importance of trees to livelihoods and the environment.


The Corporation has been planting trees at this school as a means of educating the younger generation on the value of preserving the environment.


Over the years, the weather has changed due to global warming, and this has brought a lot of changes in the weather patterns. This activity is aimed at informing the students and the Kibiku community at large on the importance of environmental conversation.


Kenya still suffers from severe deforestation. However, the “20 Million Trees for Kenya’s Forests” initiative by the Government will go a long way in restoring degraded land and protect habitats.


Kenya Re is leading the way in this exercise by example. This is definitely a step in the right direction.

 

 

Kenya Re on a mission to bolster investment group programmes for persons with disability in Kisumu

The Niko Fiti – Ability beyond disability campaign embarked on its final CSR initiative this year in Kisumu County on Friday 25th November 2016 at the Tom Mboya Labour College.


The Kisumu edition focused on increased investment and financing cohorts among people with disabilities, to assert their involvement in the country’s economic development while improving their livelihoods.


The event saw beneficiaries from Kisumu, Siaya, Kisii, Nyamira, Migori, Vihiga and Bondo counties receive 70 mobile vending units, 75 canes, 75 slates, 75 stylus and 75 packets of adult diapers. It was presided over by Kenya Re’s Managing Director, Mr. Jadiah Mwarania. Also present was the National Chairman of the Association for the Physically Disabled of Kenya (APDK) Mr. Fred Owako, and Director, Mr. Gideon Muga.


The Ksh32 Million CSR project was informed by the statistics that over 3.4 percent of Kenya’s total population lived with a form of disability. A national survey on persons with disability, conducted in 2007, revealed that the most prevalent form of disability was physical, followed by visual impairment.


About 50.4 percent of women had some form of disability, compared to men. Diseases were found to be the main cause of disability, responsible for 19 percent of cases, followed by congenital reasons at 14 percent, accidents at 12 percent, and other causes.


The research also identified rural areas as having larger populations of persons with disabilities, with about a quarter of the cases found in those places.


Generally, 25 percent of persons with disabilities experience moderate difficulties, which results in restriction to daily living activities. Niko Fiti Na Kenya Re has this year empowered the lives of over 1000 beneficiaries in Nairobi, Mombasa, Eldoret and Kisumu counties.


With continued support and partnership by Kenya RE, APDK held a one-day intensive training to equip the 70 mobile vending units beneficiaries with knowledge on leadership and governance, existing policies on disabilities, group dynamics and the importance of initiating organisations for advocacy and support.


In addition, they were given insights into financial management, basic record keeping and entrepreneurship skills. The training further included budget planning and monitoring progress for business growth.


The skills acquired through such training will help beneficiaries to succeed in business, support their families and generally contribute to community and national productivity.


Speaking during the event, Mr. Mwarania said that the 2016 CSR initiative aimed at protecting and ensuring equal enjoyment of all human rights and fundamental freedoms by all persons with disabilities (PWDs).


“The country is currently experiencing a favourable investment climate championed by an aggressive private sector. We want PWDs to be part of this positive story.  With the training offered, we hope that we will inspire individual and investment group programmes that will explore ingenious funding ideas to subsequently help people with disability and their families combat poverty and access greater support to plan for the future.”

 

 

NIKO FITI BENEFICIARIES TESTIMONIALS

Following the launch of the 2016 Niko Fiti-Ability Beyond Disability Campaign, we met 3 of the 160 beneficiaries who were empowered through the assistive devices last year to capture their experiences after receiving the mobile vending units donation.        

 

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.

 

KENYA RE ANNOUNCES SHAREHOLDER DIVIDEND PAYOUT OF KSHS. 0.80 PER SHARE

Nairobi, 16thJune, 2017…..In the interest of building shareholder inclusivity and boosting shareholder value, Kenya Reinsurance Corporation today announced the shareholder dividend for the year 2016 during the 19th annual general meeting held at the Bomas of Kenya in Nairobi. 

 

Kenya Re recently announced results for the full year results for the period ended 31st December 2016 which was made possible by the Corporation’s progressive and consistent efforts. 

 

ZAMBIA OFFICE LAUNCH AND INAUGURAL GOLF TOURNAMENT

The first Kenya Reinsurance Golf Day in Zambia was held at the celebrated Lusaka Golf Club on 9th November 2016, a day before the official Zambia regional office launch.
 
The event was hosted to promote the launch and expansion of Kenya Reinsurance business into Zambia. It attracted 111 players drawn from the insurance industry in Zambia, and created a less formal environment for brand interaction with high level decision makers within the reinsurance and B2B environment.

 

The golf tournament was a structured Four Ball. This is one of the most popular formats for team competitions. It is the chosen format for some of the biggest team tournaments in golf, including the Ryder Cup.
 
The exciting golfers day out culminated in a prize giving ceremony hosted by the Kenya Re team.
 
Speaking during the prize giving ceremony, the Managing Director of Kenya Re, Mr. Jadiah Mwarania, said that the tournament provided an opportunity for reconnection with acquaintances and initiation of new ones.

He added: “As the great Tiger Woods once said, ‘golf is a great sport for someone to learn discipline, responsibility and sportsmanship’. We need to apply this to our daily life. Let us be disciplined and responsible in our business practices in order to grow the insurance industry and economies in Africa. In doing so, we promote integrity, objectivity and good corporate citizenship in our economies.”

 

Master Scorer, Mr. Rodwell Chawatama, who organised the tournament, lauded Kenya Re for hosting the event, and invited the company’s management to install an annual golf tournament in Lusaka.

 

The well attended tournament provided a customer meet-and-greet day for Kenya Re team ahead of the regional office launch.

 

Zambia’s enabling business environment

 

When Kenya Re first conceived the idea of opening an office within Southern Africa, Zambia was prominent due to the prevalent enabling business environment, as well as its growing insurance sector.

 

Driven by an ambitious and dynamic vision, Kenya Re zeroed in on Zambia as a regional hub. The Zambia and Kenya Re teams developed an aggressive launch campaign culminating in a ceremony held at the Intercontinental Hotel Lusaka, and attended by the entire insurance actors in Zambia.

 

The Zambia launch, presided over by the Zambia Pensions and Insurance Authority, was a first in Lusaka, borrowing from Kenyan expertise while applying Zambia cultural norms.

 

With the Corporation’s footprint in the country, Zambia will benefit from an increase in reinsurance capacity and expertise.


 
The Corporation has progressively been on a growth path. As at June 2016, gross written premiums stood at ksh7.1 Billion (US$ 71 Million), up from Ksh6.2 Billion (US$ 6.2 Million) in June 2015.  The pre-tax profit grew by four percent from Ksh2.1 Billion (US$ 2.1 Million) in June 2015 to Ksh2.2 Billion (US$ 2.2 Million) in June 2016. The profit after tax as well increased by four percent from Ksh1.5 Billion (US$ 1.5 Million) in June 2015 to Ksh1.6 Billion (US $ 1.6 million) in June 2016.
 
The new Kenya Re’s Zambia regional office is situated on Chila Road in Lusaka, from which we will serve the entire Southern African market, including Namibia, Zimbabwe, Zambia, Angola, Botswana, Lesotho and Swaziland. Through the regional hub, Kenya Re will offer distinguished expertise, experienced staff, and innovative insurance and risk management services.

 

Speaking at the launch, the Registrar and CEO of the Zambia Pension and Insurance Authority Martin Libinga, endorsed Kenya Re investment in Zambia, calling it a stamp on Zambia’s thriving economy.

 

“Kenya Re’s move to Zambia is an endorsement of the work it has been doing for the development of the African economy, and specifically the insurance sector. As the economies grow, there is a need for risk management tools to facilitate business continuity.

 

Mr. Libinga invited insurance players in Zambia to engage Kenya Re experience and expertise to ensure benefit for the people of Zambia.


According to Zambia Pension and Insurance Authority, the insurance industry recorded an overall increase of 18 percent in terms of Gross Written Premium (GWP) turnover during the year ended 31st December 2015.

 

In monetary terms, GWP increased to K2.10 billion in 2015 from K1.83 billion recorded in 2014. The Insurance Penetration Ratio (GWP to GDP ratio) stood at 0.67 percent in 2015 compared to 1.5 percent in 2014. The GWP in general insurance stood at K1.38 billion in 2015 from K1.21 billion in 2014. Under long term insurance, the GWP turnover as at December 2015 stood at K717 million from K650 million in 2014.

 

Celebrating the launch, Kenya Reinsurance Corporation Managing Director said the reinsurance firm growth path earmarked Zambia as the silver bullet to the southern region.

 

“We are inspired by the incredible economic achievements being experienced in Zambia. Our response is to design and present insurance and risk management packages that will shelter the new and existing investments. Our over 45 years’ experience in reinsurance accords us capabilities to reinsure existing insurance companies and to inspire and adopt new insurance providers for the overall industry development,” Mr. Mwarania said.

 

He noted that Kenya Re was committed to offering technical services for the development of manpower and knowledge within the insurance and reinsurance industry. To this end, Kenya Re launch was preceded by an engineering and bonds seminar attended by insurance providers in Zambia.

 

“We know that a one-size-fits-all approach in building reinsurance products and solutions will not work. In this regard, we are committed to creating solutions tailored to address diverse insurance needs,” added Mr. Mwarania.

 

The Kenya Re’s Southern African growth will be delivered through a strategy anchored on five key pillars, namely maintaining financial stability, innovative business processes, continued business development, effective risk management and increased institution capacity. Further, the Kenya Re plans to cement existing client relationships, while forging new opportunities for business growth.

 

 

Computer Donation at Kibiku

On 1st September 2016, 30 dell computers were donated to the Kibiko Secondary School as part of Corporate Social Responsibility and sponsoring the ICT development of the school.

 

Speaking during the handing over ceremony, Kenya Re Managing Director intimated that the computers will go a long way in equipping and preparing the students with ICT knowledge in the era of Information and technology. He urged the students to take advantage of the equipment and learn all they can as the world still has a place for them.

 

Kenya Re management present during the ceremony also gave an account of their hey-days in high school so as to encourage the students to dream big and to never lose focus with their studies. Many of them gave their experiences in order to inspire the students to work hard and to remind them that there is no short cut to success.

 

The students were enthusiastic about the donation and they promised to work hard in school. Previously, the Corporation partnered with the school through tree planting occasions where over 3000 tree seedlings have been planted in 3 years. The Corporation has also sponsored a water piping system to ensure sustainability of the tree seedlings.

 

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).