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Dec 2016 Kenya Reinsurance Corporation inaugurated an underwriting office in November 2016 in Lusaka, the capital city of Zambia. The establishment of this entity in the south of the continent comes straight with the expansion plan of the reinsurer who is targeting in particular Angola, Botswana, Mozambique, Namibia and Zimbabwe. Kenya Re is already operational in West Africa in Abidjan (Côte d’Ivoire) since 2010 through an office turned into a subsidiary in 2014.
The company’s strategy consists in getting established where it is difficult for a foreign reinsurer to develop a portfolio because of the presence of a national reinsurer, legal cession obligation or because of a regulatory provision.
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