Kenindia Assurance Company

Date of creation: 6 December 1978 in Nairobi
Class of business: Life and non-life
Subsidiaries:

Kenya Pravack
Kenindia Asset Management Company
Tanzindia Assurance Company

Number of employees: 236

Kenindia Assurance Company in 2019


M. N. Mehta Chairman of the board	B. S. Sharma Managing Director

Share capital	5 486 580 USD
Turnover	79 026 967 USD
Assets	488 007 000 USD
Shareholder’s equity	34 362 323 USD
Net result	-1 862 014 USD
Net non-life loss ratio	97.30%
Net non-life management expenses ratio	45.41%
Non-life combined ratio	142.71%

Management

M. N. Mehta	Chairman of the board
B. S. Sharma	Managing director
J. Macharia	Chief Operating Officer (COO)
Mohan Jha	General Manager, Finance
V. R. Kumar	General Manager, General Operations
Uthup Joseph	General Manager, Life Division

Shareholding

Shareholders	Shares
Life Insurance Corporation of India	10.21%
General Insurance Corporation of India	9.19%
National Insurance Company	9.19%
New India Assurance Co.	9.19%
United India Insurance Co.	9.19%
Oriental Insurance Company	9.00%
Sansora Investments	7.90%
Chandaria Foundation Registered Trustees	7.70%
Mehta Group	6.17%
Lex Holdings	4.58%
Others	17.68%

Kenindia Assurance Company: Major technical highlights (2015-2019)

Figures in USD

Highlights	2015	2016	2017	2018	2019
Gross written premiums	59 021 290	66 513 557	73 493 107	82 000 455	79 026 967
Non-life gross written premiums	27 494 890	28 701 297	28 939 507	27 861 735	24 141 607
Net written premiums	47 948 602	55 486 383	62 651 482	72 320 351	70 257 134
Net non-life written premiums	16 643 002	18 019 003	18 491 482	18 620 831	15 694 514
Net non-life earned premiums	16 000 013	17 604 984	19 050 854	18 792 665	17 089 719
Net non-life incurred losses	10 957 046	11 893 417	12 840 490	13 320 809	16 627 878
Non-life management expenses	6 090 989	6 907 381	7 704 173	7 664 674	7 127 097
Net non-life loss ratio ⁽¹⁾	68.48%	67.56%	67.40%	70.88%	97.30%
Net non-life management expenses ratio ⁽²⁾	36.60%	38.33%	41.66%	41.16%	45.41%
Net non-life combined ratio ⁽³⁾	105.08%	105.89%	109.06%	112.04%	142.71%
Net result	7 592 736	2 654 235	2 354 496	3 212 602	-1 862 014

⁽¹⁾ Loss ratio = incurred losses / earned premiums
⁽²⁾ Management expenses ratio = management expenses / written premiums
⁽³⁾ Combined ratio = loss ratio + management expenses ratio

Kenindia Assurance Company: Turnover breakdown per class of business (2015-2019)

Figures in USD

	2015	2016	2017	2018	2019	2019 shares
Motor	7 680 663	8 312 940	8 083 651	9 082 149	7 318 531	9.26%
Fire	7 116 672	7 844 305	7 832 170	6 204 237	5 578 326	7.06%
Personal accident ⁽¹⁾	3 944 208	4 391 261	4 507 306	4 063 029	3 566 913	4.51%
Marine ⁽²⁾	2 513 808	2 467 626	2 674 233	2 760 206	2 418 770	3.06%
Theft	2 761 671	2 290 942	2 294 611	1 963 302	1 844 753	2.34%
Engineering	1 897 603	1 658 097	1 590 605	1 653 920	1 432 799	1.81%
Health	968 851	1 006 341	1 281 062	1 342 390	1 329 258	1.68%
Third party liability	377 030	491 904	437 184	553 392	482 134	0.61%
Miscellaneous accident	234 384	237 881	238 685	239 110	170 123	0.22%
Total non-life	27 494 890	28 701 297	28 939 507	27 861 735	24 141 607	30.55%
Retirement benefits funds	21 494 189	24 113 483	28 361 203	34 931 284	34 572 515	43.75%
Ordinary life insurance	9 611 155	9 834 454	11 856 739	14 133 720	15 786 954	19.98%
Annuities	-	3 291 822	3 621 619	4 607 315	4 034 123	5.10%
Group life insurance	421 056	572 501	714 039	466 401	491 768	0.62%
Total life	31 526 400	37 812 260	44 553 600	54 138 720	54 885 360	69.45%
Grand total	59 021 290	66 513 557	73 493 107	82 000 455	79 026 967	100%

⁽¹⁾ Including workmen’s compensation ⁽²⁾ Including aviation and marine transportation

Turnover breakdown per class of business in 2019

* Including theft, engineering, health and third party liability.

Kenindia Assurance Company: Net written premiums per non-life insurance (2015-2019)

Figures in USD

	2015	2016	2017	2018	2019	2018-2019 evolution ⁽¹⁾
Motor	7 367 338	7 961 344	7 838 093	8 829 745	7 094 901	-19.81%
Fire	1 331 702	1 674 067	1 508 314	1 133 770	896 327	-21.10%
Personal accident ⁽²⁾	3 358 426	4 096 121	4 159 642	3 732 244	3 233 855	-13.53%
Marine ⁽³⁾	2 108 621	1 947 116	2 032 262	2 185 879	1 933 917	-11.71%
Theft	984 749	899 897	1 048 214	852 770	767 593	-10.17%
Engineering	283 766	128 113	297 648	258 933	236 510	-8.85%
Health	924 730	1 006 341	1 253 021	1 297 758	1 296 887	-0.27%
Third party liability	212 544	255 623	270 240	256 239	166 045	-35.33%
Miscellaneous accident	71 126	50 381	84 048	73 493	68 479	-7.01%
Total non-life	16 643 002	18 019 003	18 491 482	18 620 831	15 694 514	-15.89%

⁽¹⁾ Evolution in local currency ⁽²⁾ Including workmen’s compensation ⁽³⁾ Including aviation and marine transportation

Kenindia Assurance Company: Net loss ratio per class of business (2015-2019)

	2015	2016	2017	2018	2019
Motor	69.18%	66.84%	58.65%	67.79%	119.08%
Fire	63.42%	85.29%	48.10%	36.51%	105.47%
Personal accident ⁽¹⁾	76.51%	76.85%	92.99%	118.08%	70.39%
Marine ⁽²⁾	52.08%	22.97%	39.87%	15.50%	49.83%
Theft	63.39%	77.71%	62.13%	53.60%	93.72%
Engineering	44.31%	137.22%	196.27%	89.27%	76.79%
Health	96.68%	91.03%	101.18%	94.06%	102.55%
Third party liability	49.77%	58.04%	56.81%	36.46%	181.66%
Miscellaneous accident	-5.86%	3.70%	15.06%	-21.74%	20.00%
Total non-life	68.48%	67.56%	67.40%	70.88%	97.30%

⁽¹⁾ Including workmen’s compensation ⁽²⁾ Including aviation and marine transportation

Kenindia Assurance Company: Net management expenses ratio per class of business (2015-2019)

	2015	2016	2017	2018	2019
Motor	30.46%	30.12%	31.89%	33.55%	36.25%
Fire	66.85%	79.78%	101.28%	91.37%	127.23%
Personal accident ⁽¹⁾	40.43%	39.45%	41.68%	43.78%	46.35%
Marine ⁽²⁾	39.62%	38.62%	43.60%	44.07%	45.55%
Theft	16.00%	24.03%	28.01%	27.06%	39.24%
Engineering	74.68%	184.21%	75.13%	94.92%	93.40%
Health	28.93%	28.08%	30.96%	33.27%	35.62%
Third party liability	51.63%	48.33%	45.74%	54.18%	71.36%
Miscellaneous accident	23.32%	-104.43%	33.71%	29.92%	-98.70%
Total non-life	36.60%	38.33%	41.66%	41.16%	45.41%

Kenindia Assurance Company: Net combined ratios per class of business (2015-2019)

	2015	2016	2017	2018	2019
Motor	99.64%	96.96%	90.54%	101.34%	155.33%
Fire	130.27%	165.07%	149.38%	127.88%	232.70%
Personal accident ⁽¹⁾	116.94%	116.30%	134.67%	161.86%	116.74%
Marine ⁽²⁾	91.70%	61.59%	83.47%	59.57%	95.38%
Theft	79.39%	101.74%	90.14%	80.66%	132.96%
Engineering	118.99%	321.43%	271.40%	184.19%	170.19%
Health	125.61%	119.11%	132.14%	127.33%	138.17%
Third party liability	101.40%	106.37%	102.55%	90.64%	253.02%
Miscellaneous accident	17.46%	-100.73%	48.77%	8.18%	-78.70%
Total non-life	105.08%	105.89%	109.06%	112.04%	142.71%

⁽¹⁾ Including workmen’s compensation ⁽²⁾ Including aviation and marine transportation

Exchange rate KES/USD as at 31/12	2015	2016	2017	2018	2019
Exchange rate KES/USD as at 31/12	0.0096	0.00958	0.0096	0.00976	0.00978

Kenindia Assurance Company: Contact

Head Office	Kenindia House, Loita Street ; PO Box 44372-00100 G.PO, Nairobi, Kenya
Phone	+254 (020) 3316099 / 2214439
FAX	+254 (020) 2218380
E-mail	kenindia [at] kenindia [dot] com
Website	www.kenindia.com

Average:

Your rating: None

Wed, 04/11/2020 - 15:50

Kenindia Assurance Company

Kenindia Assurance Company in 2019

Kenindia Assurance Company: Major technical highlights (2015-2019)

Kenindia Assurance Company: Turnover breakdown per class of business (2015-2019)

Kenindia Assurance Company: Net written premiums per non-life insurance (2015-2019)

Kenindia Assurance Company: Net loss ratio per class of business (2015-2019)

Kenindia Assurance Company: Net management expenses ratio per class of business (2015-2019)

Kenindia Assurance Company: Net combined ratios per class of business (2015-2019)

The online magazine