List of Licensed Reinsurance Companies in Kenya
This is a list of Kenyan licensed reinsurance companies. These are firms that provide insurance coverage to insurance companies.
Bypassing the risk to reinsurance companies, insurance companies are protected from losses and financial disasters. As a result, reinsurance can be simply defined as a type of insurance purchased by insurance companies to reduce risk.
As you can see, reinsurance is critical in the insurance industry. Far from its primary role in risk reduction for insurance companies, reinsurance has additional benefits such as premium rate stabilization, profit fluctuations reduction, flexibility, and the development of an insurance company.
List Of Licensed Reinsurance Companies In Kenya
1. East Africa Reinsurance Company Limited
East Africa Reinsurance Company was founded in 1993 and began operations on January 1, 1995. The company was founded through a collaboration between Kenyan insurance companies and the International Finance Corporation (IFC), the World Bank’s private sector arm.
The primary goal of establishing the company was to serve the reinsurance needs of the local insurance market, with the eventual goal of expanding to other regional and international markets.
At the time, the major international reinsurers dominated the local reinsurance market, with a few national and inter-governmental reinsurers playing a minor role.
It was also necessary to build local reinsurance capacity in order to reduce reliance on international markets and preserve foreign currency reserves.
Location: EARe House, 98 Riverside Drive
Contact: +254 733 623737 , +254 728 11104, +254 20 4084000
2. Continental Reinsurance Limited
Continental Reinsurance Ltd provides reinsurance services to insurance companies all over the world. For over 25 years, the company has served clients in Africa. The company’s 2007 listing on the Nigerian Stock Exchange demonstrated its financial stability.
The Nigerian Stock Exchange is well-known for its stringent standards, and only stable companies are admitted. The company specializes in a wide range of life and non-life reinsurance services. It operates in over 47 countries and has five customer service centers in Africa, including Nairobi.
Location:197 Lenana Place (4th Floor), Lenana Road Nairobi
Contact: +254 20 2429392/3, 020-5137701
Email: sbanerjea@continental-re.com
Read List of Licensed Insurance Brokers in Kenya
3. Ghana Reinsurance Company (Kenya) Limited
Ghana Reinsurance Company PLC is Ghana’s largest and first reinsurance company. It has grown to be one of the largest in Africa and the sub-region, catering to over 300 customers in the African sub-region.
Ghana Reinsurance PLC is headquartered in Ghana and has strategic offices in Kenya, Morocco, and Cameroon. They are strategically positioned to support the entire African market with reinsurance.