• About
  • Advertise
  • Privacy & Policy
  • Contact
Kenyan Business Feed
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
Kenyan Business Feed
No Result
View All Result
Home News

Kenya Re sets sights on expansion to Uganda

Kenyan Business Feed by Kenyan Business Feed
Share on FacebookShare on Twitter

[ad_1]

PATRICK ALUSHULA

By PATRICK ALUSHULA
More by this Author

Kenya Re is set to open a subsidiary in Uganda, deepening its presence in the East African country.

The board sees this as part of the company’s expansion programme and shareholders will vote on this as a special resolution during the annual general meeting (AGM) set for June 14.

“That the company be and is hereby authorised to establish a subsidiary in Uganda on such terms and conditions as may be determined by the relevant regulatory authorities and the board of directors,” says the firm in its AGM notice.

Directors will also be seeking for shareholders’ nod to determine the conditions upon which the planned subsidiary will be established. If the resolution is passed, the company will seek regulatory approvals to set up the business.

This will deepen its presence in Uganda, having entered that market in 2015 by acquiring five per cent stake in the Uganda Reinsurance Company at Sh20 million. As at end of 2017, Kenya Re had raised its stake to 11.5 per cent in Uganda Re, according to its annual report.

The decision will take competition at the doorstep of Uganda Re. It is not immediately clear if Kenya Re will offload the minority stake in the reinsurer.

The Kenyan multinational, which offers covers to more than 160 insurance companies spread out in over 45 countries in Africa, Middle East and Asia, has been hinting at entering new markets in the face of rising competition.

In March last year, Kenya Re management said the decision by countries such as Uganda, Tanzania and Ethiopia to set up their own reinsurers had eaten into its market share.

“When they form these national reinsurers it means they get compulsory cessions which reduces the volume of business available for foreign reinsurers,” Managing Director Jadiah Mwarania said earlier.

Setting up in such markets and being considered a local company instead of having to offer the services from Kenya is therefore seen as a way of reacting to the competition.

Further, the company is keen on expanding line of insurance products such as re-takaful in markets where it already operates.



[ad_2]

Source link


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]
Kenyan Business Feed

Kenyan Business Feed

Recommended.

Centum profit jumps to Sh4.12bn as land revalued

Centum profit jumps to Sh4.12bn as land revalued

June 12, 2019

Kenya and UK Collaborate on Wildlife Conservation and Tourism

November 30, 2024

Subscribe.

Trending.

Safaricom warns customers against fake M-Pesa investment schemes circulating online, urging Kenyans to verify all offers through official channels.

Safaricom Warns Customers Against Fake M-Pesa Investment Schemes Circulating on Social Media

September 21, 2025
Tourism CS Rebecca Miano joins Samburu leaders at the Maralal Camel Derby, which draws 30,000 visitors and boosts cultural tourism in northern Kenya.

Maralal Camel Derby Draws 30,000 Visitors as Festival Anchors Samburu on Global Tourism Map

September 28, 2025
Co-operative Bank of Kenya recognized at Global SME Finance Forum 2025 for innovative business banking solutions supporting SMEs across Africa.

Co-op Bank Honored at Global SME Finance Forum 2025 for Advancing SME Finance and Innovation

September 22, 2025
Safaricom Chapa Dimba All-Stars closed their Spain tour with a 4-2 win over SD Huesca, showcasing Kenyan youth football talent on an international stage.

Safaricom Chapa Dimba All-Stars Seal Spain Tour With 4-2 Victory Over SD Huesca

September 21, 2025
Nairobi hosts the first PUBG Mobile Africa Cup Finals, with Safaricom Hook providing 5G power, fan zones, and interactive gaming experiences.

East Africa Crowns First PUBG Mobile Africa Cup Champion as Safaricom Hook Powers Historic Finals

September 21, 2025
Kenyan Business Feed

We focus on news, analysis, and reports about Kenyan business, covering sectors like agriculture, finance, tourism, and technology.

Categories

  • African
  • Agribusiness
  • Courts
  • Education
  • Health
  • Hospitality
  • Manufacturing
  • NetWorths
  • News
  • Reports & Analysis
  • World Business

Popular News

  • First look at the prison where El Chapo may live for the rest of his life

    First look at the prison where El Chapo may live for the rest of his life

    2157 shares
    Share 1040 Tweet 466
  • Sameer Africa CEO Sacked

    1804 shares
    Share 750 Tweet 439

Recent News

Tourism CS Rebecca Miano joins Samburu leaders at the Maralal Camel Derby, which draws 30,000 visitors and boosts cultural tourism in northern Kenya.

Maralal Camel Derby Draws 30,000 Visitors as Festival Anchors Samburu on Global Tourism Map

September 28, 2025
Kenyans to enjoy free entry to all national parks on World Tourism Day as government promotes conservation and domestic tourism.

Free Entry to National Parks Announced for World Tourism Day as Sector Pushes Sustainability Agenda

September 28, 2025
  • Home
  • African
  • News
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF

No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF