Kenya Reinsurance Corporation

Kenya Reinsurance Corporation
Public
Traded as KN: KNRE
Industry Reinsurance, Insurance
Founded 1 January 1971 (1971-01-01)
Headquarters Nairobi, Kenya
Key people
 David Kibet Kemei
Chairman of the Board
Jadiah Mwarania
Managing Director
Revenue Increase KES: 14.04 billion (2014)
Increase KES: 3.14 billion (2014)
Total assets Increase KES: 32.2 billion (2014)
Total equity Increase KES: 19.99 billion (2014)
Website Homepage

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 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

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

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, the shareholding in the group's stock was as depicted in the table below:[6]

Kenya Reinsurance Corporation Stock Ownership
Rank Name of OwnerPercentage Ownership
1Cabinet Secretary to the National Treasury of Kenya 60.00
2Others 40.00
Total100.00

Governance

Kenya Re is governed by an eleven-person Board of Directors with David Kibet Kemei serving as the Chairman of the group and Jadiah Mwarania as the Managing Director.[7]

See also

References

  1. 1 2 "Kenya Re - Background". Kenya Re. Retrieved 2015-12-19.
  2. ↑ "Kenya Re profit 20pc up as it eyes oil". Business Daily Africa. Nation Media Group. August 12, 2015. Retrieved December 19, 2015.
  3. ↑ "Kenya Reinsurance Corp Ltd (KNRE.NR)". Reuters. Thomson Reuters. Retrieved 2015-12-20.
  4. ↑ "Kenya Re share allocation ends in favour of insurers". August 20, 2007. Retrieved December 20, 2015.
  5. ↑ "Listed Companies". NSE. Retrieved 2015-12-20.
  6. ↑ Kenya Reinsurance Corporation - 2014 Annual Report. Nairobi. 2014.
  7. ↑ "Directors". www.kenyare.co.ke. Retrieved 2016-05-31.


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