Listed reinsurance company Kenya Re plans to venture into the asset management business, an initiative aimed at diversifying its revenue streams, enhancing shareholder value, and expanding into the financial services sector amid earnings pressures.
The company is currently seeking a consultant to undertake a feasibility study and provide advisory services for the establishment of the asset management subsidiary. The consultant will be required to assess the commercial, financial, and strategic viability of establishing the fund and wealth management unit, as well as recommend the optimal market entry strategy.
Kenya Re FY2025 Performance
In the period ended December 31, 2025, Kenya Re recorded an 11.6% decline in net income to KES 3.9 billion from KES 4.4 billion in the previous year. Insurance revenue fell by 11.1% to KES 12.6 billion amid weaker underwriting performance, while net investment income surged 41.4% to KES 6.6 billion.
Kenya Re’s balance sheet remained strong with total assets rising 8.1% to KES 7.2 billion, while total equity reached KES 54.5 billion, up 10.0% year-on-year. Comprehensive income more than doubled to KES 5.7 billion, supported by strong fair value and revaluation gains.
Despite the decline in net earnings, the firm maintained its dividend at KES 0.15 per share, unchanged from the previous year.
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