Kenya Reinsurance Corporation (Kenya Re) has reported net profits after tax of KES3,318.8m ($25.6m) for the financial year ended 31 December 2025, down by 26.9% from the previous year.
Total insurance revenue dropped by approximately 9.6% year-on-year to KES14,521.9m.
The company’s insurance service result swung to a loss of KES615.9m in 2025 from a profit of KES3,155.0m in 2024, largely driven by a significant spike in insurance service expenses and lower insurance revenue.
The net investment income grew by 46.1% to KES6,259.5m, helping to offset underwriting losses.
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Summary of Kenya Re’s financial results – Company
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Figures are in KES’000
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Audited 2025
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Audited 2024
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Change
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Total insurance revenue
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14,521,866
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16,066,157
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-9.6%
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Ceding commission
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-3,874,985
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-3,930,043
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-1.4%
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Insurance revenue
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10,646,881
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12,136,114
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-12.3%
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Insurance service expenses
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-9,973,520
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-8,274,347
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20.5%
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Net expenses from reinsurance contracts
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-1,289,296
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-706,712
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82.4%
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Insurance service result
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-615,935
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3,155,055
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-119.5%
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Interest revenue (effective interest method)
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4,085,722
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4,164,976
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1.9%
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Impairment gain/(loss) on financial assets
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144,794
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-218,120
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166,4%
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Share of results of associate
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816,498
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610,186
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33.8%
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Fair value gains on investment properties
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305,824
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343,011
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-10.8%
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Other investment income
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1,035,560
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1,112,549
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-6.9%
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Net foreign exchange (loss)
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-128,921
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-1,729,512
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-92.5%
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Net investment income
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6,259,477
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4,283,090
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46.1%
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Finance (expenses) from insurance contracts
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-290,693
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-622,930
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-53.3%
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Finance income/(expenses) from reinsurance
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29,393
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-78,780
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137.3%
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Net insurance finance (expenses)
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-261,300
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-701,710
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-62.8%
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Net insurance and investment result
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5,382,242
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6,736,435
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-20.1%
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Other income
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136,550
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113,516
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20.3%
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Operating and other expenses
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-1,433,972
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-1,106,755
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29.6%
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Profit before income tax
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4,084,820
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5,743,196
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-28.9%
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Income tax expense
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-765,996
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-1,205,351
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-36.5%
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Profit for the year
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3,318,824
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4,537,845
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-26.9%
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Source: Kenya Re
In the ‘Change’ column, green depicts a favourable change from 2024 while pink indicates otherwise.
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Total assets grew by 6.9%, crossing the KES68.5bn mark as at the end of 2025 compared to 12 months previously. Total equity jumped by 7.8% to KES52.6bn at the end of last year because of a significant swing in the fair value reserve.