Kenya Re 1st-half profit up 6 pct on new business
15 August 2014, 08:24
Nairobi - Kenya Reinsurance Corp reported a 6 percent rise in first-half pretax profit to 1.7 billion shillings ($19.4 million) on Thursday as revenue increased from its businesses in Kenya and other African markets.
Gross written premiums climbed 23 percent to 4.9 billion shillings in the first six months of the year. Investment income rose to 1.3 billion shillings from 1.2 billion shillings.
Net claims incurred also rose, however, to 2.1 billion shillings from 1.6 billion shillings.