In the six months to June 2023, investment income rose 16 percent to Sh2.15 billion from Sh1.86 billion.

This was in addition to the 29 percent decline in total outflows from Sh10.48 billion to Sh7.40 billion.

“We are pleased with this performance, which reflects our business resilience and adaptability in an ever-evolving insurance landscape,” the Group Managing Director said.

“It also validates the relevance of our solutions to our insurers’ needs,” he added.

“This strength positions the Kenya Reinsurance Corporation as a reliable partner for insurers locally and across Africa, ensuring the security and continuity of their operations.”

Forex gains as well as prudent management of operating expenses reduced the reinsurer’s operating costs to Sh300 million from Sh1 billion.

“The Reinsurer is in the final phase of executing a five-year strategy built on key pillars that guide the business operations including sustainable growth goals and profitability yearly, reinvention approaches to provide unique product offerings in line with market needs.”