- The 254 Report
- Posts
- Kenya Re Expands International Life Reinsurance Operations
Kenya Re Expands International Life Reinsurance Operations
Gerald Kombo
February 26, 2025
Kenya Reinsurance Corporation (Kenya Re) has taken a bold step towards global growth with the official launch of its International Life Reinsurance Operations. The virtual and in-person event, held at the Kenya Re Head Office in Nairobi, marked a significant milestone for the company as it set its sights on expanding beyond Kenya’s borders into key international markets.
A Future of Growth and Innovation
The event began with an opening prayer, led by Mr. Steven Kithuka , Assistant Manager of the Life Department. He emphasized the corporation’s culture of trust, integrity, and professionalism—values that Kenya Re aims to uphold as it navigates this next phase of expansion.
Dr. Hillary Wachinga, the Group Managing Director, outlined the strategic vision for the new international life reinsurance unit:
From 2022 to 2024, we have seen remarkable growth in life business, with premiums rising from KSh 2 billion to over KSh 3 billion. Kenya is catching up to global trends, where life insurance portfolios in mature economies surpass general insurance. This expansion is about securing a strong future for Kenya Re in the international market.
Commitment to security and quality
Kenya Re has also obtained key international certifications that reinforce its commitment to security and quality:
ISO 27001:2013 – Ensures Kenya Re’s ability to handle sensitive data securely and mitigate cybersecurity risks.
ISO 9001:2015 – Demonstrates Kenya Re’s commitment to quality management and operational excellence.
Our ISO certifications demonstrate our dedication to maintaining the highest levels of security and quality as we expand into international life reinsurance markets.
Expanding Beyond Borders
Kenya Re’s international reinsurance strategy will initially focus on Africa, the Middle East, and Asia. The company already has physical offices in Uganda, Zambia and Cote D' Ivoire, servicing key regions like Southern Africa. It has also begun receiving its first batch of life reinsurance business from Latin America, signaling the corporation’s ambition to compete on the global stage.
Dr. Wachinga called on Kenyan insurers and partners with international life business to collaborate with Kenya Re:
We have limitless capacity to secure businesses beyond Kenya. Just as we support you in general insurance, we ask you to trust us with your life insurance portfolios across borders.
He also stressed the importance of reviewing Kenya insurance regulations, urging stakeholders to support policy reforms that will boost life reinsurance penetration.
Technology & Digital Transformation
A key component of the expansion is digital transformation. Kenya Re’s ICT team, led by Mr. Samuel Rugia, showcased the advanced digital infrastructure the corporation has put in place to facilitate seamless international reinsurance operations. The company’s strategy includes:
Enhanced risk management systems
Data-driven underwriting processes
Automated claims processing for efficiency
Beyond capacity and risk management, trust and integrity remain at the core of our operations. Our investment in digital transformation ensures we deliver efficiency and transparency to our partners.
A New Era for Life Reinsurance
The ceremony culminated in a symbolic ribbon-cutting and cake-cutting ceremony, led by Lucy Kagwiria, Manager of Marketing, Business Development & Kenya Re Academy Coordinator and Mary Mwendwa, Manager, Corporate Affairs & Sustainability . Lucy Kagwiria highlighted the significance of the expansion:
We’ve been doing international life reinsurance, but on a small scale. Now, we are going all in. We’re calling on Kenyan companies with international life business to work with us as we strengthen our global presence.
Kenya Re’s leadership is confident that this expansion will strengthen Africa’s position in the global reinsurance industry, offering clients greater security and reliability. The company also plans to engage in product innovation, including partnerships with financial institutions to develop new life insurance solutions tailored for emerging markets.
What’s Next?
Kenya Re’s expansion is not just about increasing business—it’s about shaping the future of life reinsurance on the African continent and beyond. The corporation is calling upon insurance companies, brokers, and partners to support its journey by channeling international life business through Kenya Re.
As Kenya continues to position itself as a financial hub, Kenya Re’s move signals a transformational shift in the insurance industry. With its strong financial base, commitment to innovation, and global outlook, Kenya Re is set to become a formidable player in international life reinsurance.
Together, we can redefine the future of life reinsurance. Let’s build a future that meets the needs of our clients and contributes to the growth and stability of our industry.
Exclusive: Kenya Re’s Expansion to Fight Capital Flight from Africa
I had the opportunity to ask Dr. Hillary Wachinga, Group Managing Director of Kenya Re, about the corporation’s international expansion and what it means for Africa’s financial sovereignty.
Here’s what he had to say, exclusively on The 254 Report:
Our essence of moving beyond our borders is to contribute, in our small way, towards fighting capital flight from Africa. A lot of money moves from Africa to international markets in terms of premiums, mainly denominated in foreign currency. These premiums, paid by the insurance public, are converted into international currencies and sent to financial hubs in Europe. We believe we have enough capacity and expertise to keep this money within our continent, rather than wiring it abroad.
Secondly, we understand the terrain better. We are patient, and our cultures align more closely with those of other African countries. Lastly, we are already present in nearly every African country through our general business operations, which allows us to co-sell our life solutions to our existing clientele.
This expansion is not just about growth—it’s about keeping Africa’s wealth within Africa.