Kenya Re eyeing new retakaful unit in Egypt next year - media
Kenya Reinsurance Corporation Limited is eyeing the establishment of a retakaful subsidiary in Egypt, according to a report on Business Daily Africa.
The Nairobi-based reinsurer started its retakaful window in 2013 against the backdrop of a growing Muslim population in Kenya, it says on its website. Its retakaful business also falls under its strategy to enter new markets in Africa, Middle East and Asia.
The state-controlled company boosted its capital last year, selling additional shares that quadrupled its base from 1.75 billion Shillings to 6.99 billion Shillings, according to the report.
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