Kenya-Re makes leaps under Mwarania
His appointment as managing director Kenya Reinsurance Corporation on April 12, 2011 after serving as the manager in charge of reinsurance made the firm’s shares rise for the first time in nine years to trade at Sh9.80.
A year later, shareholders showed confidence on firm’s shares which doubled the price to Sh17.15, the highest in five years.
This was Jadiah Mwarania’s impact at the helm of Kenya Re.
The career underwriter with more than 20 years’ experience has steered the state entity from a local institution to a continental firm.
Kenya Re set up an office in Abidjan, Ivory Coast last year as a springboard to French-speaking insurance markets of West Africa.
The 49-year old also oversaw the overhaul of the firm’s corporate identity by discarding its four-decade brown colour in favour of blue and red.
The rebranding was in line with the company’s five-year strategic plan (2012–2017) that touches on investments, property management, corporate governance, risk management and internal controls.
In September last year, Global Credit Ratings rated the reinsurer AA for the national scale claims paying ability and BB+ internationally, one of the highest.
Mr Mwarania was invested with an Order of the Grand Warrior of Kenya (OGW).
In the 2013 half year results ending June, Kenya Re reported 20 per cent growth in gross written premiums to Sh4 billion compared to same period the previous year.
Kenya Re plans to construct a 22-storey building in Upper Hill. In mid this year, the firm will set up an office in either Zambia, Zimbabwe, Botswana or Mozambique to cater for the southern Africa market.