This archive report was first published on 7 August 2020.
Published on August 7, 2020, Kenya Reinsurance Corporation announced a significant increase in its half-year net earnings, reaching KSh 1.6 Billion.
The reinsurer's life business grew by 17% from KSh 776 Million in 2019 to KSh 909 Million, while its fire business expanded by 71% to KSh 2.6 Billion in underwritten premiums.
Despite the COVID-19 pandemic affecting its business, Kenya Re's gross premiums rose to KSh 9.1 Billion in June 2020, compared to KSh 8.9 Billion in the same period in 2019.
The corporation's balance sheet size grew by 6% to KSh 53.3 Billion at the close of the first six months of 2020, with shareholders' equity rising to KSh 33 Billion from KSh 31.9 Billion in 2019.
