Kenya Re net profit rises to Sh1.56 billion

Kenya Reinsurance Corporation MD Jadiah Mwarania (left) and Chairman David Kemei review the 2016 half-year results yesterday. The corporation has recorded a 4 per cent growth in net profit for thee half-year period ended June 30, 2016. (PHOTO: LEE MWITI/ STANDARD)

Kenya Reinsurance Corporation has recorded a 4 per cent growth in net profit for thee half-year period ended June 30, 2016. The Nairobi Securities Exchange-listed re-insurer saw its profit jump to Sh1.56 billion compared to Sh1.5 billion in the same period last year.

Presenting the company’s half-year results yesterday, Kenya Re Managing Director Jadiah Mwarania said the firm’s profit was powered by growth in gross written premiums. “Our gross written premiums shot up by 14 per cent in June 2016 from Sh6.2 billion in 2015 to Sh7.1 billion in 2016. Another area that grew significantly was investment income,” Mr Mwarania said.