Kenya Re posts a profit of 34 million USD in 2017
As at December 31, 2017, Kenya Re recorded a 9.4% rise in its net result after tax from 3.2 billion KES (31.8 million USd) to 3.5 billion KES (34.2 million USD) twelve months later.
The turnover increased, on its turn, by 12.12% at 14.8 billion KES (144.7 million USD) against 13.2 billion KES (131.2 million USD) in 2016.
Moreover, the incurred losses of the Kenyan reinsurer increased by 13.6% to settle at 7.59 billion KES (74 million USD). This worsening in the loss ratio is due to the high number of natural disasters that occurred in 2017 worldwide.
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