Founded 1970 | Traded as KN: KNRE | |
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Key people David Kibet KemeiChairman of the BoardJadiah MwaraniaManaging Director Revenue KES: 14.04 billion (2014) Net income KES: 3.14 billion (2014) | ||
Kenya Reinsurance Corporation Limited commonly referred to as Kenya Re is a reinsurance company based in Nairobi, Kenya.
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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. The firm provides reinsurance products to both life and general insurance. 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.
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:
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.