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Kenya Re, increase of the legal cession

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Magazine Issue: 
Digital risks, a new challenge for insurers [3]
Magazine date: 
Mar 2015

The Kenyan government has set the rate of the legal cession to Kenya Re at 20% compared to 18% previously.
The state owned reinsurer will be benefiting from this rate of compulsory cession until 2020.
The Kenyan government owns a 60% stake in the capital of the reinsurer whose volume of local business fell from 40% five years ago to 30% today.

<p< Kenyan insurers are also required to place respectively 10% and 5% of their business with Zep Re and Africa Re. Other reinsurers can, therefore, benefit from only 65% of the cessions.
Wed, 15/04/2015 - 16:48

Source URL: https://www.atlas-mag.net/en/article/kenya-re-increase-of-the-legal-cession

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