Tagged: Kenya Reinsurance Corporation

Kenya Re launches Sharia compliant product

Kenya Re launches Sharia compliant product

Kenya Reinsurance Corporation ( Kenya Re) is one of several local firms to venture into the Islamic re-insurance business with establishment of a Sh50 million Re-Takaful (or Sharia compliant reinsurance) window. Managing Director Jadiah Mwarania said demand for Shari’ah-compliant products has been growing and Kenya Re is seeking to ensure it retains existing business and expand into new markets. Kenya Re also launched a newly appointed board that would guide, monitor and supervise the new venture to ensure compliance with Sharia rules and principles. Mwarania expressed confidence that rekakaful would enable Kenya Re increase market share and attain financial growth.

Kenya Re sets sights on Islamic finance

Kenya Re sets sights on Islamic finance

The Kenya Reinsurance Corporation is planning to venture in sharia-compliant business and confirmed that it will start ReTakaful insurance in the country and the areas where it already has a presence in West Africa and the Middle East markets. According to the firm’s managing director, Mr Jadiah Mwarania, the development is part of Kenya Re’s 2013-2017 core strategic areas that touche on market expansion and development of products. The firm elected a sharia-based supervisory board last year to advise the firm on acceptable aspects of the ReTakaful.

Kenya Re appoints Sharia board

Kenya Re appoints Sharia board

In preparation to assume risks of firms offering Islamic Insurance cover known as ReTakaful, Kenya Reinsurance Corporation (Kenya Re) has decided upon a Sharia board. This way, the establishment of a dedicated ReTakaful window has been brought closer w…

Kenya Re to snare Islamic business

Kenya Re to snare Islamic business

Kenya Reinsurance Corporation is searching to raise its revenue growth to more than the 13% it enjoyed in the first half of this year by diversifying into the Islamic space.
The fact that in East Africa a Shari’ah compliant reTakaful operation will be …

Kenya Re eyes new deals with Sharia-compliant unit

Kenya Re eyes new deals with Sharia-compliant unit

Kenya Reinsurance Corporation plans to venture into Sharia-compliant business to grow its income and tap into the expanding Islamic finance in Africa and the Middle East where it already exists.
At the Bomas of Kenya Mr Mwarania, Kenya Re’s chief execu…