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Kenya Re looks to new markets, profit declines 36%

Posted On: Apr. 1, 2019 6:14 AM CST

Kenya Reinsurance Corp. Ltd. plans to expand its operations to new markets after its net profit declined more than 36% year over year to 2.3 billion Kenyan shillings ($23 million) in 2018, Business Daily reported. Gross written premiums remained flat at nearly KES 15 billion while net claims totaled KES 7.6 billion, up 16% from 2017.

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