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International

Kenya Re acquires stake in Uganda Re and African Trade Insurance Agency

May 29, 2015 Reprints

Kenya Reinsurance Corp. Ltd. has purchased stakes in Uganda Reinsurance Co. Ltd. and African Trade Insurance Agency Ltd. as it looks to diversify its income sources, Business Daily reports.

Kenya Re has acquired a 5% stake in Uganda Re for 20 million Kenyan shillings ($205,587) and also purchased 10 shares in ATI for KES 88 million. "ATI takes political and credit risk insurance, a class of business that most reinsurers don’t want — so if profitable we will be getting a dividend from it," said a Kenya Re official.

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Kenya Re acquires stake in Uganda Re and African Trade Insurance Agency

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