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 Corporation is also rated AA by Global Credit Rating (GCR).
About Kenya Re-insurance Corporation Limited
Kenya Reinsurance Corporation Limited is engaged in underwriting of classes of reinsurance business and investment activities. The Company’s segments are long term business and short term business. The short term business segment comprises motor, marine, aviation, fire, and accident. The long term business segment includes individual and Company life. Its core activity is providing reinsurance services for various classes of business. It provides reinsurance services to insurance companies in Kenya, Africa Middle East and Asia. It offers traditional non-life products, such as fire, accident, liability, motor and life classes. It also carries out technical seminars to clients and does pricing and product development. It engages in Retakaful business. It provides reinsurance capacity and technical expertise to both local and the international markets. It provides reinsurance services to companies spread out in over 60 countries. Its main geographical segment of business is in Kenya.
Objectives of Kenya Re-insurance
- To be Africa’s best source of reinsurance security and service provider.
- To increase gross premiums from new and existing markets.
- To improve returns on assets.
- To provide international customer service standards.
- To promote professionalism and ethics in the insurance industry
Kenya Re-insurance Products
Life and Health
Life and health reinsurance are critical in the contemporary world as businesses seek to grow and improve their position in the ever-evolving world. Businesses continue to face shortcomings due to changing demographics and encounter disruptions, primarily due to the changing scenarios in medicine and data science. Therefore, we offer businesses a chance to actualize digital doors opening up while we stimulate new pathways to our customers. We are continually looking for ways to overcome traditional shortcomings that reduce businesses’ efficiency by offering a life and health insurance plan that compares to none in terms of efficiency.
Kenya Re is primarily set up to help businesses in the continually evolving world overcome health and life challenges by actualizing the ever-growing pools of information while helping companies retain efficient ties with their customers. Notably, our company offers tailored risk and capital management solutions that seek to deal with the complexity of firms’ individual needs by offering life and health reinsurance solutions. Insurance solutions seek to protect people from any health shortcomings they may encounter, and we are on the frontline in helping people.
Property and Casualty
- MARINE HULL
Kenya Re-insurance Ownership
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 Reinsurance Corporation Stock Ownership
||Cabinet Secretary to the National Treasury of Kenya
Kenya Re-insurance Governance
Kenya Re is governed by an eleven-person Board of Directors with Chiboli Shakaba serving as the Chairman of the group and Jadiah Mwarania as the Managing Director.
Chiboli Induli Shakaba – Independent Non-Executive Chairman
Michael Jeti Mbeshi – Acting Managing Director, Executive Director
Jacqueline N. Njui – General Manager (Finance and Investments)
Beth S. Nyaga – General Manager, Reinsurance Operations
Johnson Ireri – Chief Accountant
List of Kenya Re-insurance Property Investments
Kenya Re Towers, Upperhill Nairobi
This property is situated along Hill Lane, approximately 100 metres off Ragati Road in Nairobi’s Upper Hill area. It is identified as Kenya Re Towers adjacent to the European Union and Mwalimu Towers and opposite the Japanese Embassy. The property is in neighbourhood of Britak Centre, and Rahimtullah Towers among others.
This outstanding masterpiece with steel and glass cladding finishes is home to major corporate like Bamburi Cement, Ernst & Young, Kenya Tourist Board, Kenya Roads Board and diplomatic institutions like the African Trade Insurance Agency among others. There is a cafeteria on the ground floor and a candy shop on the parking level.
It is a twin tower building with one tower rising to 10 office floors and another one with six (6) floors.
There are three (3) upper parking floors and one (1) basement parking floor.
The building is user friendly for people with disabilities.
The building is served by a standby generator, modern panoramic lifts and borehole water supply.The building is under twenty (24) hour CCTV surveillance and its magnificent water fountain has been refurbished and rebranded.
The building is connected to the fibre network for communications.
Anniversary Towers, Nairobi
The property is situated adjacent to AMBANK House and lies along University Way and Monrovia Lane, overlooking Maendeleo House within Nairobi City Centre. It is in the neighbourhood of Posta SACCO Plaza, Hazina Towers and View Park Towers among others.
This prestigious development comprises a twenty two (22) storey commercial building beautifully finished in mosaic tiles and tinted glass cladding. It boasts of high speed lifts and is served by standby generators connected to mains for all services. There are two basement parking levels providing ample and secure parking space for the tenants.
The building is under twenty (24) hour CCTV surveillance. A wide variety of tenants can be found in the building including government departments,, private companies and other institutions.
The favourite San Valencia Restaurant is to be found in this building, Rialto Fashions and other elegant shops and arcades.
The building is connected to the fiber network for internet communications
Reinsurance Plaza, Nairobi
The property is situated along Aga Khan Walk and Taifa Road, almost directly opposite the High Court and Nairobi Cinema within Nairobi City Centre.
It is located at the heart of the Nairobi CBD close to major Government departments like the Treasury, KRA, Foreign Affairs, Deputy President’s Office, Office of the President and Attorney General. It is an 18 storey building comprising offices on 17 upper floors and shops on the Ground and Mezzanine floors. The building is under twenty (24) hour CCTV surveillance.
The building has two basement parking floors with two levels each providing ample and secure parking for tenants and is served by a standby generator, borehole water supply is a connected to mains for all services. Modern lifts installed make the building more user friendly. It is secure and safe for use by both tenants and visitors to the building.
The building is connected to the fiber network for internet communications and has been retrofitted with energy efficient fittings including solar grid panels. The building is user friendly for people with disabilities.
Reinsurance Plaza, Kisumu
The property is situated at the junction of Jomo Kenyatta highway and Oginga Odinga Road within Kisumu City Center. It is adjacent to Varsity Towers to the west, Alpha House to the north and in the neighbourhood of Diamond Trust Bank, Kenya Commercial Bank, Al Imran Plaza and Kisumu Hotel. It is at the heart of the lakeside city’s CBD.
Development comprises an eight (8) storey commercial building, three (2) storey shop units, power room and a switch room and it is connected to mains for all services.The building has 55 open parking lots secured within its boundaries. It boasts to some of the major clients and institutions in Kisumu including the NHIF, Kisumu Teachers SACCO Society, doctors, government departments, insurance companies, and Choppies Supermarket to name just a few.
The building is fitted with a standby generator and modern lifts for efficiency and is user friendly for people with disabilities with access ramps.The building is connected to the fibre for internet communications.
Kenya Re-insurance Contacts
Location: Reinsurance Plaza, along Aga Khan Walk & Taifa Road, Nairobi, Kenya
Complaints Office: +254 703 083210, +254 703 083212
Corruption Reporting: +254 703 083241, +254 703 083303