Kenya Re profits up by 23 percent.

Kenya Re profits up by 23 percent.

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Kenya Re –Insurance corporation pre tax profits grew by 23 % from 1.7 billion shillings to 2.1 billion shillings as at 30th June 2015.

Releasing half of the year financial results in Nairobi, Kenya Re –Insurance corporation managing director Mr Jadiah Mwarania said the performance was due to efficient claims management , product innovation, development as well as aggressive marketing in chosen markets.

Mwarania said the company assets grew by 6%  from 32.1 billion to 34.1 billion while the share holders funds went up by7%  from 19.9 billion to 21.4 billion .

He added that the corporation is working to create capacity and expertise into oil , gas and energy sector ‘’ This includes our marine and energy retrocession protection for inward treaty and and facultative acceptance .’’Mwarania  added

He reiterated the corporation’s commitment to expand its market by putting up subsidiary in  Lusaka Zambia to serve countries like Swaziland ,Lesotho, Namibia and Mozambique as well as putting up another subsidiary in Abdijan to serve West Africa and other Francophone markets.

In investment the Kenya Re CEO said the corporation efforts were focused on investment policy and rationale of balancing risk and returns.

‘’We continue to actively manage our investment portfolio of 25 billion .The portfolio is made up of 7.7 billion in government securities ,7.1 billion in investment properties.’’ He added