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Kenya Re issues profit warning on higher claims and forex losses

Kenya Reinsurance Corporation (Kenya Re) #ticker:KNRE has issued a profit warning for the full financial year ended December 2018. FILE PHOTO | NMG

By  BRIAN NGUGI

Kenya Reinsurance Corporation (Kenya Re) #ticker:KNRE has issued a profit warning for the full financial year ended December 2018 citing higher claims, forex losses, lower income and impairment of assets.

The Nairobi Securities Exchange (NSE)-listed re-insurer now expects to post at least 25 per cent lower earnings for the year ending December 2018 than what it reported the previous year.

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