The board of directors of the re-insurer recommended a final dividend payout of Sh0.45 per share nearly half the 0.85 per share paid to shareholders the previous year.


Mr Mwarania said that the firm is dealing with stiff completion from domesticated re-insurers in countries like Nepal, Ethiopia and Uganda as well as new entrants.

“Mergers and acquisitions have led to larger re-insurance capacities within the conglomerates which in turn reduces their reinsurance requirements. Competition has also significantly increased continuously in recent times,” said Mr Mwarania.

“There are nine reinsurance companies that have physical offices in Nairobi including ourselves.”

Mr Mwarania however said the firm plans to leverage on its five year strategy that will see it invest in foreign reinsurers in efforts to remain relevant in countries it has operations.

Hehehe...@vvs, this is your cue to jump ship...management manenos, and their excuses related to the business case..sijui stiff competition should tip the scales more than the valuation aspect IMHO.

They tried.Insurance companies are on dangerous waters
Britam loss with an asset base in excess of sh.100bn
Old Mutual UAP issued a profit warning
Sanlam loss
Unlike banks who were reporting profit growth through reducing loan loss provisions.
And as Obiero says the two boys have messed up this economy thoroughly and brought it to its knees

Meanwhile, the Ndegwas and associates will earn another Sh100m in dividend from East Africa Re, whose net profit rose 2.3% to Sh615.55m in FY 2018. (See DN)

some progress in this fight against corruption......