NAIROBI, Kenya, Aug 17 – Kenya Re’s profit recovered to Sh600 million in the half year ending June this year, from a loss of Sh200 million during a similar period last year.
The improvement is attributed to a 20 percent growth in insurance revenue from Sh8.6 billion to Sh10.3 billion.
Income was also boosted by better performances in Cote d’Ivoire and Uganda.
“Our performance in the first half of 2024 reflects the insurance sector’s trust in Kenya Re and prudent risk management,” Kenya Re Group Managing Director Hillary Maina Wachinga said.
“We commit to continue offering solutions to our clients in Africa, Middle East and Asia while responding to changes in our operating environment in a timely manner,” Wachinga added.
Likewise, Kenya Re’s investment income expanded by 24 percent from Sh2.1 billion to Sh2.7 billion, attributed to prudent investment decisions.
