Kenya Re profit hits Sh3.6 billion on higher premiums, forex gains
A rise in premiums has seen Kenya Re’s net profit increase by 15 percent to Kes3.62 billion for the fiscal year ending December 2022. The strong performance was attributable to a rise in gross written premiums that went up by 23 percent to Kes24.98 billion while net earned premiums grew by 16 percent to close at Kes22.15 billion. In the period, the company’s investment income edged up by two percent to Kes3.74 billion with the corporation noting this was due to the effects of full containment of the Covid-19 pandemic on the investment environment. In the period, Kenya Re’s operating expenses dropped by 16 percent…
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