Kenya Reinsurance Corporation Limited commonly referred to as Kenya Re is a reinsurance company based in Nairobi, Kenya.[1]
| Company type | Public |
|---|---|
| KN: KNRE | |
| Industry | Reinsurance, Insurance |
| Founded | 1 January 1971 |
| Headquarters | Nairobi, Kenya |
Key people | Hon. Catherine Kimura Chairperson of the Board Hillary M. Wachinga, PhD Managing Director |
| Revenue |  KES: 22.1 billion (2019) |
| KES: 4.2 billion (2019) | |
| Total assets | KES: 50.4 billion (2019) |
| Total equity | KES: 31.95 billion (2019) |
| Website | Homepage |
Overview edit
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.[2] The firm provides reinsurance products to both life and general insurance.[3] Kenya Re is listed on the Nairobi Securities Exchange.
History edit
Kenya Reinsurance Corporation was established through an Act of Parliament in December 1970. The firm commenced reinsurance business in January 1971.[1] Kenya Re launched its IPO in 2007 leading to the government cutting its stake in the reinsurer.[4]
Ownership edit
The shares of the stock of Kenya Reinsurance Corporation are traded on the Nairobi Securities Exchange, under the symbol: KNRE.[5] As of 31 December 2014[update], the shareholding in the group's stock was as depicted in the table below:[6]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | National Treasury of Kenya | 60.00 |
| 2 | Others | 40.00 |
| Total | 100.00 |
Governance edit
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 edit
References edit
- ^ a b "Kenya Re - Background". Kenya Re. Archived from the original on 22 December 2015. Retrieved 19 December 2015.
- ^ "Kenya Re profit 20pc up as it eyes oil". Business Daily Africa. Nation Media Group. 12 August 2015. Retrieved 19 December 2015.
- ^ "Kenya Reinsurance Corp Ltd (KNRE.NR)". Reuters. Thomson Reuters. Archived from the original on 22 December 2015. Retrieved 20 December 2015.
- ^ "Kenya Re share allocation ends in favour of insurers". 20 August 2007. Retrieved 20 December 2015.
- ^ "Listed Companies". NSE. Archived from the original on 28 September 2020. Retrieved 20 December 2015.
- ^ Kenya Reinsurance Corporation - 2014 Annual Report. Nairobi. 2014. Archived from the original on 22 December 2015. Retrieved 19 December 2015.
{{cite book}}: CS1 maint: location missing publisher (link) - ^ "Board of Directors | Kenya Reinsurance Corporation". www.kenyare.co.ke. Retrieved 12 March 2024.
- ^ "Management Team | Kenya Reinsurance Corporation". www.kenyare.co.ke. Retrieved 12 March 2024.