Kenya Reinsurance Corporation Limited commonly referred to as Kenya Re is a

reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own insu ...

company based in

Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...

Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...

Overview

Kenya Re is the oldest reinsurer in

Eastern Eastern may refer to: Transportation *China Eastern Airlines, a current Chinese airline based in Shanghai *Eastern Air, former name of Zambia Skyways *Eastern Air Lines, a defunct American airline that operated from 1926 to 1991 *Eastern Air Li ...

and

Central Africa Central Africa is a subregion of the African continent comprising various countries according to different definitions. Angola, Burundi, the Central African Republic, Chad, the Democratic Republic of the Congo, the Republic of the Congo, ...

and serves over 265 insurances companies in 62 countries across

Africa Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area ...

, the

Middle East The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Pro ...

and

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...

with over 50 percent of its revenue being generated from foreign markets. The firm provides reinsurance products to both

life Life is a quality that distinguishes matter that has biological processes, such as signaling and self-sustaining processes, from that which does not, and is defined by the capacity for growth, reaction to stimuli, metabolism, energ ...

and

general insurance General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determine ...

. Kenya Re is listed on the

Nairobi Securities Exchange The Nairobi Securities Exchange (NSE) was established in 1954 as the Nairobi Stock Exchange, based in Nairobi the capital of Kenya. It was a voluntary association of stockbrokers in the European community registered under the Societies Act in ...

History

Kenya Reinsurance Corporation was established through an

Act of Parliament Acts of Parliament, sometimes referred to as primary legislation, are texts of law passed by the Legislature, legislative body of a jurisdiction (often a parliament or council). In most countries with a parliamentary system of government, acts of ...

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.

Ownership

The shares of the

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

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

Governance

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.

References

Financial services companies established in 1971 Reinsurance companies Insurance companies of Kenya Companies listed on the Nairobi Securities Exchange Companies based in Nairobi Government-owned insurance companies Kenyan companies established in 1971 {{insurance-company-stub

Overview

History

Ownership

Governance

See also

References