Kenya Reinsurance Corporation

Kenya Reinsurance Corporation Limited commonly referred to as Kenya Re is a reinsurance company based in Nairobi, Kenya.

Kenya Re is the oldest reinsurer in Eastern and Central Africa and serves over 265 insurances companies in 62 countries across Africa, the Middle East and Asia with over 50 percent of its revenue being generated from foreign markets. The firm provides reinsurance products to both life and general insurance. Kenya Re is listed on the Nairobi Securities Exchange.

Kenya Reinsurance Corporation was established through an Act of Parliament in December 1970. The firm commenced reinsurance business in January 1971. Kenya Re launched its IPO in 2007 leading to the government cutting its stake in the reinsurer.

The shares of the stock of Kenya Reinsurance Corporation are traded on the Nairobi Securities Exchange, under the symbol: KNRE. As of 31 December 2014, the shareholding in the group’s stock was as depicted in the table below:

Kenya Re is governed by an eleven-person Board of Directors with Jennifer Karina serving as the chairperson of the group and Jadiah Mwarania as the managing director.

Office

Location:

Reinsurance Plaza, along Aga Khan Walk & Taifa Road, Nairobi, Kenya

Phone:

+254 703 083 000

Complaints Office:

+254 703 083212, +254 703 083214

Corruption Reporting:

+254 703 083241, +254 703 083324

Email:

kenyare@kenyare.co.ke

Property Investment Management OfficesReinsurance Plaza – Nairobi

1. +254 703 083 350
2. +254 703 083 371
3. +254 703 083 372
4. +254 703 083 373
5. +254 703 083 374
6. +254 703 083 394

Anniversary Towers – Nairobi

1. +254 703 083 392
2. +254 703 083 252

Kenya Re Towers – Upperhill, Nairobi

1. +254 703 083 375
2. +254 703 083 396

Anniversary Towers – Nairobi

1. +254 703 083 395
2. +254 703 083 358

Email: kenyare@kenyare.co.ke

Kenya Reinsurance ABIDJAN, COTE D’IVOIRE

The Cote d’Ivoire Office Subsidiary was setup on 30^th July 2010. The office is responsible for managing and growing the Corporation’s General & Life reinsurance business in line with the Corporation’s strategic objectives in the CIMA Region (French Speaking Countries in West and Central Africa)

Some of the Key deliverables to achieve Profitable Growth include but not limited to;

• Grow Premium Revenue
• Grow Investment income
• Premium Collection
• Timely and effective processing of claims in line with our SLAs with cedants
• Marketing, client engagement, and follow-up on new treaties and renewals to grow the business.
• Prudent selection of risks within the CIMA Region
• Following up and processing of Cedant Technical Accounts

Key Markets (Cedants)

The subsidiary serves West and central Africa specifically CIMA Region i.e. Cima markets (Benin, Burkina Faso, Cameroon, Central Africa Republic, Congo, Cote d’Ivoire, Gabon, Mali, Niger, Senegal, chad, Togo, Equatorial Guinea and Comoros) & Mauritania.

Kenya Reinsurance Kampala, Uganda

The Uganda Office Subsidiary was setup on 26th August, 2019 but started transacting officially on 1st January 2020. The office is responsible for managing and growing the Corporation’s General & Life reinsurance business in line with the Corporation’s strategic objectives within Uganda Market.

Some of the Key deliverables to achieve Profitable Growth include but not limited to;

• Grow Premium Revenue
• Grow Investment income
• Premium Collection
• Timely and effective processing of claims in line with our SLAs with cedants
• Marketing, client engagement, and follow-up on new treaties and renewals to grow the business.
• Prudent selection of risks within the Ugandan market
• Following up and processing of Cedant Technical Accounts

Key Markets (Cedants)

The Ugandan Market has 21 General Insurance Companies, 9 life Insurance Companies, 5 licensed HMOs and 2 Micro Insurers.

General Insurance accounts for over 60% of the Market and Life Insurance accounts for close to 30% of the Market.

The Reinsurance Ratios in the General Insurance Market are at an average of 44%, which comes to a Potential Local Reinsurance Revenue of over UGX 200BN/=.

Kenya Reinsurance Lusaka, Zambia

Kenya Reinsurance Corporation established the subsidiary in Zambia in order to service the Southern African region. The subsidiary obtained its trading license in August 2016 and proceeded to have its official launch in November 2016.

2017 was the first full year of operations and the subsidiary opened its doors to the public from its office in Kabulonga, Lusaka. The subsidiary’s purpose is to provide seamless stability in the region, while its mission is providing risk management solutions that secure the future and create value for stakeholders furthering the purpose of the parent company.

Some of the Key deliverables to achieve Profitable Growth include but not limited to;

• Grow Premium Revenue
• Grow Investment income
• Premium Collection
• Timely and effective processing of claims in line with our SLAs with cedants
• Marketing, client engagement, and follow-up on new treaties and renewals to grow the business.
• Prudent selection of risks within the Southern Africa market
• Following up and processing of Cedant Technical Accounts

Key Markets (Cedants)

The Zambia subsidiary serves the following countries:

• Angola
• Botswana
• Eswatini
• Lesotho
• Malawi
• Mozambique
• Namibia
• South Africa
• Zambia
• Zimbabwe

The subsidiary has since grown premiums written year-on-year and continues to advance with serving its chosen markets and creating value for them.