Kenya Re calls for the establishment of a national flood insurance pool

Kenya Re is advocating for the establishment of a national flood risk insurance pool. The program would bring together Kenya Re, direct insurers, the local government, and capital market participants.

Under the reinsurer’s proposal, property and casualty insurers would cede their flood risks to this pool, while the government would assume responsibility for extreme events and establish an appropriate regulatory and legislative framework.

This initiative comes amid a rise in extreme weather events, particularly floods, which resulted in insured losses of nearly 5 billion KES (38.5 million USD) in 2025.