From Standard Digital
Kenya Re-insurance Corporation has recorded a six percent growth in pre-tax profit for the six months ended June 30. However, shareholders will miss out on a windfall after directors declined to recommend payment of interim dividend. The corporation’s profit before tax climbed to Sh1.72 billion from Sh1.62 billion in a similar period last year. Managing Director Jadiah Mwarania, said the improved performance was as a result of implementing the firm’s strategic goals.
Mwarania said the corporation would strive to be innovative to deal with new risks that continue to emerge in the insurance market. “We have made efforts to diversify our products to cater for emerging reinsurance needs and capitalise on new opportunities,” Mwarania told an investor briefing in Nairobi yesterday. The corporation’s gross premium written for the six months to June 30, grew by 22 per cent to Sh4.91 billion from Sh4.03 billion in a similar period last year driven by aggressive marketing in the international market where there is bigger growth opportunities.
Written by James Anyanzwa/Read more at Standard Digital