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 | DATE OF CREATION: June 1993, Kenya |
| CLASS OF BUSINESS: Life and non life | |
| MAIN UNDERWRITING ZONES: Africa and Asia |
East Africa Reinsurance : contact
| Adress: EARe House, 98 Riverside Drive P.O. Box 20196, 00200 City Square, Nairobi, Kenya |
| Tel: +(254 20) 4084 000 / 4443588 / 4455385 |
| Email: info@eastafricare.com |
| Website: www.eastafricare.com |
East Africa Reinsurance : rating
| Agency | Rating | Outlook |
| A.M. Best | B | Stable |
| GCR | AA- (National business) | Stable |
| GCR | B (International business) | Stable |
East Africa Reinsurance : main indicators
In thousands USD
| 2020 | 2021 | |
| Turnover | 36 431 | 37 969 |
| Shareholder’s equity | 48 878 | 47 487 |
| Net result | 3 734 | 1 206 |
East Africa Reinsurance : turnover 2021 by class of business
In thousands USD
| Premiums | In % | |
| Fire | 11 112 | 29.27% |
| Health | 5 923 | 15.60% |
| Motor | 2 136 | 5.63% |
| Engineering | 2 067 | 5.44% |
| Marine and aviation | 2 103 | 5.54% |
| Liability | 133 | 0.35% |
| Miscellaneous risks | 4 234 | 11.15% |
| Total non life | 27 708 | 72.98% |
| Life | 10 261 | 27.02% |
| Grand total | 37 969 | 100% |
East Africa Reinsurance : capital and shareholding
| Shareholders | In % |
| ICEA LION Life Assurance | 30.91% |
| First Chartered Securities | 26.52% |
| Kenindia Assurance | 15.99% |
| GIC India | 14.75% |
| GA Insurance | 6.86% |
| Pioneer Holdings (Africa) | 3.00% |
| Apollo Investments | 1.35% |
| United Insurance Company | 0.62% |
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East Africa Reinsurance : technical Ratios
| 2020 | 2021 | |
| Net loss ratio | 58.68% | 61.03% |
| Net management expenses ratio | 43.48% | 37.66% |
| Net combined ratio | 102.16% | 98.69% |
East Africa Reinsurance : management
| A.K. Wainaina | Chairman of the board |
| Peter K. Maina | Chief executive officer |
| Purity Mumbe | Chief finance officer |
| Calisto Ogaye | Head of technical business |
Exchange rate as at 31/12/2020 : 1 KES = 0.00910 ; as at 31/12/2021 : 1 KES = 0.00878 USD.
Source: East Africa Re et Insurance Regulatory Authority (IRA).
Read also | Reinsurance in Sub-Saharan Africa