Kenya Reinsurance Corporation Explained

Kenya Reinsurance Corporation
Type:Public
Key People:Hon. Catherine Kimura
Chairperson of the Board
Hillary M. Wachinga, PhD
Managing Director
Industry:Reinsurance, Insurance
Revenue: KES: 22.1 billion (2019)
Net Income: KES: 4.2 billion (2019)
Assets: KES: 50.4 billion (2019)
Equity: KES: 31.95 billion (2019)
Homepage:Homepage
Location:Nairobi, Kenya

Kenya Reinsurance Corporation Limited commonly referred to as Kenya Re is a reinsurance company based in Nairobi, Kenya.[1]

Overview

Kenya Re is the oldest men a livereinsurer 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.[2] The firm provides reinsurance products to both life and general insurance.[3] Kenya Re is listed on the Nairobi Securities Exchange.

History

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.[4]

Ownership

The shares of the stock of Kenya Reinsurance Corporation are traded on the Nairobi Securities Exchange, under the symbol: KNRE.[5], the shareholding in the group's stock was as depicted in the table below:[6]

Rank !!Name of Owner!!Percentage Ownership
160.00
2Others40.00
Total100.00

Governance

Kenya Re is governed by an eleven-person Board of Directors with Hon. Catherine Kimura serving as the Chairperson of the Board of Directors[7] and Dr. Hillary M. Wachinga as the Managing Director.[8]

See also

Notes and References

  1. Web site: Kenya Re - Background. 2015-12-19. Kenya Re. 22 December 2015. https://web.archive.org/web/20151222085031/https://www.kenyare.co.ke/index.php/site-map/background. dead.
  2. Web site: Kenya Re profit 20pc up as it eyes oil. August 12, 2015. December 19, 2015. Business Daily Africa. Nation Media Group.
  3. Web site: Kenya Reinsurance Corp Ltd (KNRE.NR). https://web.archive.org/web/20151222124012/http://in.reuters.com/finance/stocks/companyProfile?symbol=KNRE.NR. dead. 2015-12-22. 2015-12-20. Reuters. Thomson Reuters.
  4. Web site: Kenya Re share allocation ends in favour of insurers. August 20, 2007. December 20, 2015.
  5. Web site: Listed Companies. 2015-12-20. NSE. 28 September 2020. https://web.archive.org/web/20200928092308/https://www.nse.co.ke/listed-companies/list.html. dead.
  6. Book: Kenya Reinsurance Corporation - 2014 Annual Report. 2014. Nairobi. 19 December 2015. 22 December 2015. https://web.archive.org/web/20151222101834/https://www.kenyare.co.ke/index.php/example-pages/annual-report/105-kenyare-annual-accounts-for-fy-2015/file. dead.
  7. Web site: Board of Directors Kenya Reinsurance Corporation . 2024-03-12 . www.kenyare.co.ke.
  8. Web site: Management Team Kenya Reinsurance Corporation . 2024-03-12 . www.kenyare.co.ke.