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DEG acquires 5.4% of Zep-Re

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Magazine Issue: 
Insurers facing the digital turning point [3]
Magazine date: 
Jul 2016

The German investment and development company, DEG has acquired 5.4% in Zep-Re's capital bringing its total stake in the Kenyan reinsurer to 14.93%.

The agreement between the two companies was signed for an amount of 1.4 billion KES (14.07 million USD).

This investment comes after Kenya Re [4], the majority shareholder of Zep Re, acquired in June 2016, additional shares of 4.44% for a value of 1.3 billion KES (13.13 million USD) thus controling, 19.88% of the reinsurance company.

Zep Re showed an 11.04% increase in its 2015 turnover, which went from 125 million KES (1.4 million USD) in 2014 to 138.8 million KES (1.38 million USD).

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Wed, 20/07/2016 - 09:26

Source URL: https://www.atlas-mag.net/en/article/deg-acquires-54-of-zep-re

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[3] https://www.atlas-mag.net/en/issue/insurers-facing-the-digital-turning-point
[4] http://www.atlas-mag.net/en/article/kenya-reinsurance-corporation-limited-kenya-re
[5] http://www.atlas-mag.net/en/article/kenya-res-stake-in-zep-re-could-be-reduced-to-5
[6] http://www.atlas-mag.net/en/article/2014-ranking-of-reinsurers-in-africa
[7] http://www.atlas-mag.net/en/article/special-reinsurance-african-reinsurance-market-has-wind-in-its-sails