Kenya Reinsurance Corporation Limited (Kenya Re) has reported a strong financial performance for the six months ended June 30, 2026, with profit after tax rising 42.8 per cent to Sh2.3 billion.
The profit increased from Sh1.6 billion recorded during the same period last year.
The corporation attributed the growth to increased insurance revenue, improved underwriting outcomes and favourable net insurance finance results.
Total insurance revenue rose by 14 per cent to Sh9.4 billion, up from Sh8.3 billion in the corresponding period in 2025.
The biggest improvement was recorded in the corporation’s underwriting performance. Kenya Re’s Insurance Service Result increased by 342 per cent to Sh1.3 billion, compared with Sh320 million recorded in June 2025.
The corporation said the sharp increase demonstrated the effectiveness of its underwriting discipline and risk selection strategy.
The improved underwriting performance helped Kenya Re achieve higher overall profitability despite an increase in operating expenses.
Operating expenses rose by 22 per cent to Sh800 million from Sh600 million during the same period last year. The increase was mainly associated with business expansion and growth initiatives.
Kenya Re said the rise in expenses remained manageable relative to the gains recorded in revenue and profitability.
The reinsurer also maintained a strong balance sheet during the period under review.
Its total assets grew by three per cent to Sh74.7 billion, up from Sh72 billion. Shareholders’ funds increased by six per cent to Sh57.6 billion from Sh54.5 billion.
According to the corporation, the growth in capital and assets strengthens its capacity to support cedants, absorb risks and take advantage of emerging opportunities across its markets.
Kenya Re Group Managing Director Dr Hillary Wachinga attributed the performance to the quality of the corporation’s underwriting portfolio, its regional operations and the efforts of its employees.
“This significant growth reflects the quality of our underwriting portfolio, the strength of our regional operations, and the dedication of our employees,” Wachinga said.
He said the corporation would continue to focus on strengthening its position in the market while expanding its regional presence.
“As we look ahead, we remain focused on strengthening our market leadership, deepening regional diversification, and positioning the Corporation for long-term growth in an evolving insurance landscape,” he said.
Kenya Re said it is pursuing regional expansion as part of its long-term investment strategy. The corporation is seeking to capture opportunities across Africa and selected international markets.
It currently has three wholly owned subsidiaries in Uganda, Zambia and Côte d’Ivoire in West Africa.
The half-year results point to stronger earnings alongside improved underwriting performance, with the corporation maintaining growth in its revenue, assets and shareholders’ funds.
Kenya Re said its strategy remains focused on profitable growth, disciplined underwriting, regional diversification and long-term value creation.
