Kenya Reinsurance Corporation has announced the launch of its Zambia Regional office during Kenya insurance industry cocktail event held at Sankara Hotel in Nairobi. The official launch of the Kenya Re Zambia Regional office is set for 11th November 2016 at the Intercontinental Hotel in Lusaka, Zambia.
The new regional hub will be based in Lusaka City and will serve Namibia, Zambia, Zimbabwe, Botswana, Mozambique, Lesotho, Swaziland Malawi and Angola. The experienced reinsurance company will transfer its expertise, experience, innovative reinsurance services, risk management and customized solutions to the Southern Africa Markets. Through this, Kenya Re seeks to ultimately increase reinsurance capacity for insurance companies in Africa.
Kenya Re recently posted Ksh 2.1-Billion in the pretax profits for the 2016 half year financial results attributing the outcome to efforts made in expanding the reinsurance business locally and internationally.
Speaking during the event, Kenya Reinsurance Corporation Ltd, Managing Director, Mr. Jadiah Mwarania said that the corporation’s customer centricity strategic pillar calls for network expansion and alignment with clientele evolving needs.
“We are pleased to launch our Zambia regional hub in the hope of expanding our existing and new business opportunities within the Southern African region. Our success will be premised on our expertise and market knowledge amplified by the outstanding human resource capacities.” said Mr. Mwarania.
The Managing Director added that Kenya Re anticipates great success and growth especially tapping the new Zambia Government trade strategy for local and international investment. In his inaugural speech the new president of Zambia Edgar Chagwa called for economic diversification through progressive commercial diplomacy that attracts foreign and local trade investment. Zambia has previously held a mono economy mostly reliant in copper mining.