The Corporation’s Group Managing Director - Dr. Hillary Maina Wachinga, along with International Business Manager - Ms. Alice Mbutu, visited the Indian insurance market from 9th to 15th June, 2024. This visit aimed to strengthen Kenya Re's commitment to the Indian insurance industry with meetings held with major cedants and reinsurance brokers. The longstanding relationship between Kenya Re and the Indian market, dating back to 1971 with JB Boda's first retrocession program placement, was emphasized.
Dr. Wachinga shared Kenya Re's latest financial results, highlighting its position as the most profitable reinsurance company in East and Central Africa. He expressed gratitude to the Indian market for its role in Kenya Re's success and urged continued support. He also provided insights on claims settled in the Indian market, amounting to USD 2.5 million from 2023 to mid-2024, showcasing Kenya Re's dedication to the partnership.
Assuring clients of Kenya Re's financial stability and commitment to efficient claims processing, Dr. Wachinga discussed the 2024 retrocession program, which includes A-rated leaders. He emphasized Kenya Re's goal of expanding business in diverse markets and improving its credit rating. Additionally, he announced plans to establish a branch office in India's Gift City to better serve the Asia and Middle East regions, enhancing client relationships and service quality.
Out of the meetings held in India, an article was published in India Economic Times Newspaper highlighting the intensive market engagements.
