Kenya Re [4] has recorded a 23% increase in its turnover in 2022 to reach 25 billion KES (201.2 million USD) against 20.3 billion KES (178.1 million USD) in 2021.
Non-life premiums amounted to 22.7 billion KES (182.7 million USD) compared to 2.3 billion KES (18.5 million USD) for the life class of business.
The Kenyan reinsurer ended the past year with a 15% net profit growth. The latter went from 3.2 billion KES (28.1 million USD) as at 31 December 2021 to 3.6 billion KES (29 million USD) twelve months later. The investment income improved by 2% to 3.7 billion KES (29.8 million USD).
These positive results were mainly driven by the strong performance of the reinsurance portfolio, the diversification of products and the prompt processing of claims.
By the end of 2022, the company's assets and shareholders' equity stood at 70.1 billion KES (564.1 million USD) and 40.8 billion KES (328.3 million USD) respectively.