Government-controlled listed reinsurance company Kenya Re has posted a 50% growth in consolidated profit after tax to KES1.58bn ($12.2m) for the six months ended 30 June 2025 from KES1.06bn for the corresponding half in 2024, according to interim financial reports released by the reinsurer.
The surge in net profit was due to much lower foreign-exchange losses, which plunged to KES22.2m in 1H2025 from KES844.2m in 1H2024.
Other highlights of Kenya Re’s first-half consolidated financial results include:
|
First half to
|
30 Jun 2025
|
30 June 2024
|
Y-o-Y change
|
|
Insurance Revenue
|
6,321
|
7,420
|
-14.8%
|
|
Insurance Service Result
|
303
|
607
|
-50.1%
|
|
Investment income
|
2,767
|
2,657
|
4.1%
|
|
Impairment loss on financial assets
|
(5)
|
(0.2)
|
1900%
|
|
Net forex (loss)/gain
|
(22)
|
(844)
|
-97.4%
|
|
Net Investment & Insurance Result
|
2,740
|
1,812
|
+51.2%
|
|
Profit Before Tax
|
2,238
|
1,508
|
+48.4%
|
|
Profit After Tax
|
1,578
|
1,055
|
+49.5%
|
|
Balance Sheet
|
@30 Jun 2025
|
@31 Dec 2024
|
Change
|
|
Total Assets
|
68,924
|
66,813
|
+3.2%
|
|
Total Equity
|
51,933
|
49,672
|
+4.6%
|
|
Insurance Contract Liabilities
|
14,019
|
13,777
|
+1.8%
|
|
Source: Kenya Re
|