Kenya Re to enter Tanzania, India markets by next June

Kenya Reinsurance Corporation (Kenya Re) plans to set up a subsidiary in Tanzania and a branch in India within the next four months as it embarks on an expansion strategy to win more business in Africa, Middle East and Asia.

Hillary Wachinga, managing director at Kenya Re, told the Business Daily that the entry into Tanzania would help them win back the business it lost following the introduction of regulations that barred reinsurers without local presence from underwriting any business in that market.