It's okay

[quote=Extraterrestrial]NSE-listed firm reported a claims ratio of 72.1 percent in the quarter ended June.. West African Insurance Companies Association (Waica Re) has the most profitable underwriting business in general insurance, paying out only 8.1 percent of the premiums it collects.. Ghana Re is the third most profitable with a claims ratio of 30 percent and is followed by Continental Re (47.2 percent) and East Africa Re (65.2 percent).

https://www.businessdail...sAMP-57hud9z/index.html[/quote]

Kennya Re is that bad? 72% while others are doing 8%

That article by the bdaily was not factual. The author does not understand nature of insurance business.

Kenya Re is a GoK cash cow. Where do you think money for flowers and soda na mandazi for the endless international talk-shops hosted in Nairobi by GoK comes from?

Kenya Re stake in ATI set for dilution

https://www.businessdail...0524-137okry/index.html

Kenya Re has bought a minority stake in Africa Trade Insurance Agency (ATI), securing an additional revenue stream from the fast-growing continental underwriter.

The Nairobi Securities Exchange-listed firm last month invested $1 million (Sh87.5 million) in ATI, taking a 0.55 per cent stake in the multinational that covers political and trade risks.


https://www.businessdail...2888-5kc5maz/index.html

Nairobi-based African Trade Insurance (ATI) is raising of $69.1 million (Sh6.9 billion) from five new member countries that will be issued with shares amounting to a combined 18.72 percent stake in the company.

The underwriter has already received Sh1.4 billion and Sh1.7 billion from Nigeria and Ghana respectively. Nigeria acquired a 3.8 percent stake in the transaction while Ghana secured a 4.78 percent equity.

Niger, Togo and Cameroon will each invest Sh1.2 billion in ATI by March 2020 and will each receive a stake of 3.38 percent.
Besides raising capital from new member states, the insurer also recently sold a 3.5 percent stake to Swiss insurance firm Chubb for Sh1 billion as part of its efforts to strengthen its balance sheet.

“These new shareholdings, combined with a solid performance and steady growth, are expected to bring ATI’s equity to a level exceeding $400 million (Sh40.4 billion) in 2020,” ATI said in a statement.

The entry of new shareholders is set to dilute earlier investors including Kenya which has been the top investor with a stake of 10.36 percent.