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Kenya: Reinsurer continues expansion drive

June 17, 2014 - 6:00am

Kenya Reinsurance Corp. Ltd. managing director Jadiah Mwarania said the company will increase its retained earnings to fund "continued expansion" in the new financial year, The Star reported.

Board chairman Nelius Kariuki said "presently, we have a business presence in over 45 countries and in over 160 insurers in Africa, Middle East and Asia." The company's profit after tax in 2013 amounted to 3 billion Kenyan shillings ($34.7 million), up 7% year on year.

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