On Thursday 11th June 2024, Kenya Re team led by Group Managing Director Dr. Hillary Wachinga, paid a courtesy visit to JB Boda in Mumbai, India. Dr. Wachinga was accompanied by Ms. Alice Mbutu, Manager - International Business. They were warmly received by Mr. Atul Boda, Chairman of JB Boda, along with the entire JB Boda management team.
The primary objective of the meeting was to strengthen existing business relationships and explore new business opportunities in India and other regions where JB Boda operates. The partnership between Kenya Re and JB Boda has a long history, dating back to 1971 when the broker facilitated our first retro program.
During the visit, the Kenya Re team engaged in fruitful discussions with JB Boda's underwriters and various specialized teams. The discussions focused on identifying new business opportunities through JB Boda as an intermediary. Both teams agreed to collaborate on technical aspects and in specialized areas such as cyber risk and catastrophe modelling. They also committed to resolving any outstanding issues.
Dr. Wachinga conveyed his heartfelt appreciation to JB Boda for their steadfast support and invaluable contributions to the success of Kenya Re. He encouraged JB Boda to maintain and even enhance their support, underscoring the significance of their enduring partnership in driving mutual growth and exploring new opportunities in the reinsurance industry. He emphasized that the continued collaboration between Kenya Re and JB Boda is pivotal for both organizations, particularly in navigating the evolving landscape of the global reinsurance market. It is worth noting that Claims settled in 2023 & 2024 amount to KES315,583,213 equivalent to USD – 2.5 Million. The highest claims of KES255,199,010 equivalent to USD 1,739,659 being paid to National Ins. Co Ltd.
