Kenya Re, H1 2024 results

Kenya Re achieved a 20% increase in insurance revenue, from 8.584 billion KES (61 million USD) as at 30 June 2023 to 10.306 billion KES (79 million USD) a year later.

Impacted by exchange rate volatility and higher management expenses, net profit declined by 10% over one year to 1.055 billion KES (8 million USD).

At 1.856 billion KES (14 million USD), the investment income was also down by 31% year-on-year.

At the end of the first half of 2024, the reinsurer's assets and shareholders' equity stood at 65.677 billion KES (504 million USD) and 48.896 billion KES (375 million USD) respectively.