Rank: Elder Joined: 12/4/2009 Posts: 10,797 Location: NAIROBI
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Going through the annual report for 2018 and highlights are as below; In the course of the year Kenya Re increased it's shareholding in Zep Re from 18.97% to 19.13%. The Group currently has a paid up capital of KShs 1.75 billion for the combined composite business, which meets the minimal requirement of KShs 800 million as per the Insurance Act. As at 31 December 2018, the Group had complied with the externally imposed capital requirements. The Kenya Reinsurance Corporation Cote d’ivoire Subsidiary is required by CIMA regulation article 810 on share capital to have a registered capital of at least ten billion (10,000,000,000) FCFA equivalent to KShs 1,768,127,729 by 15 November 2020.Reason why Kenya Re is issuing bonus shares and increasing to increase it's share capital. Post bonus the share capital of Kenya Re will rise to ksh.7bnWealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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