News and Events

AM BEST AFFIRMS CREDIT RATINGS OF KENYA REINSURANCE CORPORATION LIMITED

AM Best, through a press release published on the Business Wire website on 31st January 2019, write that AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of the Corporation. The outlook of these Credit Ratings is stable.

 

 

KENYA RE AT MAANZONI LODGE

Employees are the most valuable assets a company has; ensuring that they are motivated and enjoy a great relationship together, team buildings remain an ideal avenue to facilitate good synergy as well as guarantee better output and productivity. Team building helps foster better and open communication between employees themselves, and also between employees and the higher management. It goes a long way in improving professional relations, understanding and co-operation. Team building makes the team, a unit and improves coordination between its members as this is one of the important goals to be achieved on the way to organizational success

After a series of alluring and inviting uhondos, the long-awaited team building was here with us. The day was 30th November 2018. Staff are arrived at their various work stations ready to clear pending work in their in-trays, reply to pending emails and to do some light shopping ahead of travel!  Buses departed for the 45-minute drive from Nairobi Central Business District along the Nairobi-Mombasa highway in shifts, the first bus left at 4.00pm and the last at 5.30pm.

At the foot of the Lukenya Hills on the Nairobi-Mombasa highway, surrounded by dry, tropical savanna scrubland, staff met a blend of luxury and nature from the arrival point.  Delightful gardens, with bright colorful flowers and towering acacia trees, which are home to hundreds of birds is what met the eye at this beautiful place. The venue, none other than, Maanzoni Lodge in Machakos County.

The lodge provided superb ambience as it was a perfect get away from the hustles and bustles of the city for some fresh air. Staff were treated to a sumptuous dinner and they took the opportunity to catch up with fellow colleagues as they dug into their meal. What followed was a briefing by the facilitators, Outburst, as well as remarks from the Managing Director, Mr. Jadiah Mwarania, who emphasized the importance of team building as a superb approach to improving productivity and motivation as it helps in breaking down barriers, eliminate distractions, and ultimately have fun hence the reason behind incorporating teambuilding into the Corporation’s training curriculum.

The following day, 1st December 2018, was fun-packed with a schedule of activities by the facilitators. Beginning with a 6.00am work-out in preparation for the day’s activities. Not even the dicey weather could derail staff morale in taking part in planned activities. After breakfast, staff proceeded to the Duma conference hall for the morning session. Being 1st December 2017, it was World AIDS Day and what better way to mark the day than a sensitization facilitated by the Kenya Re HIV/AIDS Committee.  The committee brought in two guests Ms. Grace Nasubo and her son Meshack Melau who shared personal experiences with staff on the need to get tested, prevention as well as care and treatment if tested positive. The young boy really moved staff with a super presentation of a poem that encourages testing and advocates against stigma for persons living with HIV/AIDS. Staff speaking to Re News remarked that the sensitization was very timely and a move in the right direction.

The rest of the day flowed through with diverse activities in smaller groups. The most significant activity being a competition to decorate a cake provided by the facilitators, Outburst. Staff were arranged in five different groups. A cake was provided together with dough and an aluminum foil. The rest of the items necessary to decorate the cake were placed at a central table for staff to pick. Here’s the trick! The rules of the game stipulated that every group only uses two items at a go and no group should use any two items for more than three minutes. Staff really put in their creative wits in decorating their cakes in the very little time and resources given!  All cakes looked wonderful but the owners of the winning cake, had to be crowned. Team Victors it was! They made a nice cake in symbolic commemoration of the day’s event, World AIDS Day. The team thereafter donated their cake to Ms Grace Nasubo and her son, Meshack Melau. This competition was different! There were no losers! All teams remained behind to cut and munch on their cakes!

Then came the night of a thousand stars, the Christmas party. Staff came adorned in the 70s style of the night! Ladies came beautifully dressed in big wigs, bell-bottoms, frayed jeans, midi skirts, and ankle-length maxi dresses. Men on the other hand were elegantly dressed in bell bottom pants, flared jeans as well as 70s capes and shirts.

The Managing Director, Mr. Jadiah Mwarania, in his remarks noted that his speech was reflective of how the year has been for the Corporation; recapping negatives and positives that the Corporation has been through.  He reiterated the need for staff to work together towards achievement of set targets and goals. He also took the opportunity to welcome new staff who have joined the Corporation on contractual and permanent terms and wished them the best as they settled down in their new roles.

The emcees of the night, Yvonne Mwancha, Joel Irungu and Mwangi Chege aka Mwas (of Outburst) were in check to ensure staff remain as entertained as possible through winning of raffles and airtime, dancing to music of the various ages sets and of course some good dose of laughter! The Christmas Party Committee also took the opportunity to unveil winners of various categories voted in by staff. The various awards went to:

·         Alcohol & Drug Abuse Mainstreaming Committee (ADA) which was awarded Committee of the Year and credited for implementing initiatives aligned to their mandate.

·          The department of the year went to the Records & Archives Department which was applauded for quick turnaround time in availing requested files/records.

·         Mr. Patrick Amonde was crowned Employee of the Year for his monumental commitment to his work duties especially when staff sought travel clearances. He always went out of his way to ensure that the concerned staff get assisted in time to travel.

·         Best dressed gentleman went to Mr. Adams Koome while best dressed lady went to Mrs. Rose Waganda.

·         The Alcohol & Drug Abuse Mainstreaming Committee (ADA) also recognized the efforts of Ms. Lina Nyaga, Mr. James Mburu and Ms. Mary Mwendwa in supporting the Committee’s mandate.

 

The official event ended at around 12.30am and staff took to the dance floor to shake a leg and celebrate the hard work put in through the year! What a colossal end to 2018! Until next year, Adios!


Kenya Re hosts Life Technical Insurance Seminar

The Corporation hosted a Life Technical Insurance seminar at the Sarova Stanley hotel in Nairobi on 3rd and 4th September.  The seminar was attended by over 40 participants from 20 different insurance players from Kenya. Some of the companies represented during the training were Sanlam, Gemina Insurance, and East Africa Insurers among many others. The MD Mr. Jadiah Mwarania thanked the participants and urged them to acquire all the knowledge that they can in order to grow the industry and take it to the next level.

KENYA RE AT THE FOREFRONT IN INTRODUCING NEW FINANCIAL REPORTING STANDARD

Kenya Reinsurance Corporation held a breakfast forum earlier on 30th October 2018 where Deloitte and Fidelity Information Services (FIS) shared joint insight and knowledge on the new International Financial Reporting Standard, IFRS 17. The forum held at the Radisson Blue hotel in Nairobi was graced by insurance stakeholders, clients, regulators and industry bodies. The forum focused on giving an informed overview and demystifying the concepts under IFRS 17.

Kenya Re holds Inaugural Zambia Market cocktail

The Kenya Re. Zambia team hosted their local market clients to an inaugural Market Cocktail event on 12th July, 2018 at the Radisson Blu hotel in Lusaka. The event was graced by Her Excellency, The Kenyan High Commissioner to Zambia Ms. Sophy Kombe. The key note speaker was the Acting Managing Director Mr. Michael Mbeshi who updated the market on the operations of the corporation. Highlighting the 12% growth in the Gross Premiums for 2017 as well as a commitment to high quality service and prompt responses. Reference was made to the decision to place the regional office in Zambia which is strategically located in Southern Africa. 

Kenya Re Records 14% Increase in Investment Income

The Corporation Investment income grew by 14% from Ksh. 1.716 billion in June 2017 to Ksh 1.940 billion in June 2018. The Corporation also reported profit before tax of Ksh 1.756 billion as at 30th June 2018 compared to 2.294 billion as at 30th June 2017, which is 23% lower. Profit after tax was Ksh 1.230 billion compared to Ksh 1.622 billion, which is 24% lower. The Corporation saw a 16% drop in gross premiums written from 7.504 billion as at 30th June 2017 to Ksh. 6.332 billion as at June 30 2018. The Corporation presented the mid fiscal 2018 financial results on 24th August at the Intercontinental Hotel Nairobi.  Present during the event was the Corporation Chairman Mr. David Kemei and Managing Director Mr. Jadiah Mwarania.

Kenya Re holds NON-LIFE seminar in Togo

Kenya Re’s Côte d’Ivoire office held a seminar for the French-speaking countries at Hotel 2 Février, Lomé in Togo from 14th to 16th May 2018. The seminar’s objective was to analyze Kenya Re’s Non-Life General Reinsurance. The main topic of discussion was Fundamentals of Reinsurance which was facilitated by Mr Arthur Levry, Regional General Manager, West Africa Office and Mr Longin Nterere Assistant Manager, International Division Nairobi. All the seminar logistics were done by Lucy Kagwiria, Assistant Manager, West Africa Office. The seminar was officially opened by the Togo Insurance Commissioner, Mr Ayeva Souleymane and Deputy Commissioner Ms Nelly Mongosso’o. There were participants from countries such as Togo, Mali, Ivory Coast, Benin, Burkina Faso and Niger.

 

Launch of PWD Education Integration Programs

The first phase of the 2017 Niko Fiti campaign saw the launch of the Niko Fiti PWDs Education integration program in Lenana Boys and Moi Girls Isinya which are aimed at promoting inclusion and opportunity for students living with disability to join reputable secondary schools in 2018. The program involves modification of the school’s facilities to ensure access, mobility and integration of students with various disabilities in the institutions.

 

The Corporation engaged and partnered with the Ministry of Education to identify the schools to be integrated. “The integration process by the ministry of education will help create equal educational opportunities for all in this country thus empowering more people especially those living with disabilities to reach their dreams and strive to achieve more. The integration process develops an appreciation factor in that everyone has unique characteristics and abilities,” added the Chairman Mr. David Kemei.

KENYA RE RECORDS 3.5 BILLION PROFIT

The core purpose of an Investor’s Briefing in a Business to Business (B2B) organization is to maintain strong, transparent relationships with investors. The Corporation held its Full Year Investor Briefing on 29th March 2018 from 7:00 am at the Hilton Hotel, Nairobi. The purpose of Investor Briefings has been to improve the growth of business and create awareness and transparency to shareholders and interested parties. 

Kenya Re hosts NON-LIFE REINSURANCE seminar

The Corporation held a Non-Life Reinsurance seminar that attracted over 60 participants from over 20 insurance companies from Kenya and beyond, notable were the participants from alBaraka Insurance Company from Khartoum Sudan.  The seminar was held at the Sarova Stanley hotel in Nairobi and took place 0n 5th and 6th September. The opening ceremony was graced by Kenya Re MD Mr. Jadiah Mwarania who thanked the local insurance companies for supporting Kenya Re over the years not only through their business but also by trusting the Corporation with their staff to train on different issues affecting the industry.

Copyright © 2019 Kenya Reinsurance Corporation. All Rights Reserved.Nairobi, Kenya, Tel. +254 703 083 000, +254 20 220 2000, Email: kenyare@kenyare.co.ke, (+254703083210 & +254703083212 Complaints Office), ( +254703083241/+254703083303 Corruption reporting lines).