Low profit for Kenya Re in 2013

The gross premiums written by Kenya Re in 2013 increased by 21% at 9.6 billion KES (112.8 million USD). This turnover’s positive development was not reflected in net income whose growth is limited to just 7.1% at 3 billion KES (35 million USD).

This is due to a significant increase in claims in terms of frequency and severity, the total of which went up from 4.06 billion KES (47.4 million USD) to 4.7 billion KES (55.2 million USD), that is a 16% rise.
Income from investments also had a negative impact, dwindling down by 14% at 2.2 billion KES (25.8 million USD) compared to 2.6 billion KES (30.3 million USD) a year earlier.