Increased provisioning for doubtful debts from clients in Asia, Francophone countries in Africa and the Middle East by over five times (485 per cent) saw Kenya Re post a 7.5 per cent net profit drop last year.
The reinsurer, offering covers to more than 160 insurance companies spread out in over 45 countries, closed the year ended December with provisions of Sh665 million compared to the previous year’s Sh113.6 million.
