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Analysts from Standard Investment Bank noted that while revenue and investment income remained mostly stable, higher claims during the period accounted for the drop in profitability/ FILE


Kenya re boosts COVID-19 fight with Sh40mn donation

NAIROBI, Kenya, Jun 14 – Kenya Reinsurance Corporation Limited has donated Sh40 Million, which will be channeled towards the purchase of Personal Protective Equipment (PPEs) to support the spirited fight against COVID-19.

The donation comes at a time when the world faces a shortage of PPEs as earlier predicted by the World Health Organization (WHO).

The shortages are leaving doctors, nurses, and other frontline workers dangerously ill-equipped to care for COVID-19 patients, due to limited access to supplies such as gloves, medical masks, respirators, goggles, face shields, gowns, and aprons.

“We have heard and read of stories in the news about shortages of PPE kits across the world, this poses a serious threat because without them testing and treating patients with the disease will be made very difficult. It is for this reason that we have channeled our donation to aid the Government in its fight against the pandemic.” said Kenya Re Chairman Chiboli Shakaba.

Speaking during the donation, Kenya Re Managing Director, Jadiah Mwarania, voiced the importance of the donation. “As Kenya’s biggest reinsurer, we are committed to helping our majority shareholder – the Government of Kenya, in fighting this pandemic that has affected us all in one way or another. Our donation is a boost to the Government’s efforts geared at containing the spread of the deadly Coronavirus disease. I would like to thank all entities and individuals of good-will who have contributed towards this cause. We shall overcome this pandemic together.”

The donation was channeled through the Covid-19 Emergency Response Fund that was established to mobilize resources for emergency response towards containing the spread and impact of COVID 19. 

The donation also comes two months after the Corporation announced a 35 percent growth in profit for the year 2019 of Sh4.17 billion profit before tax.

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