Zep-Re profit hits 7-year low on tame Kenya growth

Kenya Re, which has 19.3 percent stake — the largest— in Zep Re booked 36.4 percent decline in profits to Sh2.27 billion. FILE PHOTO | NMG

Regional reinsurance firm Zep-Re earnings dropped to Sh1 billion, the lowest in seven years, as the Kenyan market booked the lowest premiums compared with that of its six other markets of operation.

Kenya, its largest market, posted 10.7 percent growth in premiums to $70.6 million (Sh7.2 billion), being a slower pace than the 32.8 percent growth booked in the previous year.

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