Kenya Re to scale down in India on Sh3.2b premiums dip

Kenya Re Managing Director Hillary Wachinga and Chairperson Catherine Kimura during the release of the company's 2023 half-year financial results in Nairobi on August 25, 2023. [Jonah Onyango, Standard]

Kenya Reinsurance Corporation is strategically withdrawing from the Indian market where the firm foresees a loss of Sh3.2 billion in premiums.

The withdrawal has been informed by a hit the reinsurer has taken which also saw its net premiums for the half year ending June 30, 2023 drop to Sh6.4 billion from Sh9.7 billion in 2022.