East Africa Reinsurance

	DATE OF CREATION: June 1993, Kenya
	CLASS OF BUSINESS: Life and non life
	MAIN UNDERWRITING ZONES: Africa and Asia

East Africa Reinsurance : contact

Adress: EARe House, 98 Riverside Drive P.O. Box 20196, 00200 City Square, Nairobi, Kenya

Tel: +(254 20) 4084 000 / 4443588 / 4455385

Email: info [at] eastafricare [dot] com

Website: www.eastafricare.com

East Africa Reinsurance : rating

Agency	Rating	Outlook
A.M. Best	B	Stable
GCR	AA- (National business)	Stable
GCR	B (International business)	Stable

East Africa Reinsurance : main indicators

In thousands USD

	2020	2021
Turnover	36 431	37 969
Shareholder’s equity	48 878	47 487
Net result	3 734	1 206

East Africa Reinsurance : turnover 2021 by class of business

In thousands USD

	Premiums	In %
Fire	11 112	29.27%
Health	5 923	15.60%
Motor	2 136	5.63%
Engineering	2 067	5.44%
Marine and aviation	2 103	5.54%
Liability	133	0.35%
Miscellaneous risks	4 234	11.15%
Total non life	27 708	72.98%
Life	10 261	27.02%
Grand total	37 969	100%

East Africa Reinsurance : capital and shareholding

Shareholders	In %
ICEA LION Life Assurance	30.91%
First Chartered Securities	26.52%
Kenindia Assurance	15.99%
GIC India	14.75%
GA Insurance	6.86%
Pioneer Holdings (Africa)	3.00%
Apollo Investments	1.35%
United Insurance Company	0.62%

East Africa Reinsurance : technical Ratios

	2020	2021
Net loss ratio	58.68%	61.03%
Net management expenses ratio	43.48%	37.66%
Net combined ratio	102.16%	98.69%

East Africa Reinsurance : management

A.K. Wainaina	Chairman of the board
Peter K. Maina	Chief executive officer
Purity Mumbe	Chief finance officer
Calisto Ogaye	Head of technical business

Exchange rate as at 31/12/2020 : 1 KES = 0.00910 ; as at 31/12/2021 : 1 KES = 0.00878 USD.
Source: East Africa Re et Insurance Regulatory Authority (IRA).

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Thu, 02/03/2023 - 17:29