Reinsurance Companies


Operating in Kenya

Reinsurance refers to insurance that is purchased by an insurance companies to cede some of the insurance liabilities. This means that an insurance company will pay a percentage of the premium received from its customers to the reinsurance company, the reinsurance company will then contribute in payment of part of claims once they occur. 

Kenya Industry Overview

As at 15th feb 2019


Continenental Reinsurance Limited was first incorporated in Nigeria in 1985, Continental Reinsurance started business initially as a private reinsurance company. From January 1987, it began operating as a general reinsurer and in January 1990, it became a composite reinsurer, offering both treaty and facultative life and non-life reinsurance. 

The company converted to a public limited liability company in 2000. It recapitalised to NGN 10 billion in 2007, with widespread ownership which includes international investors.  The company operates in 50 African countries.

It listed on the Nigerian Stock Exchange on On May 30, 2007. Continental Reinsurance Ltd opened its regional office in Nairobi in the year 2008. It later launched a fully licensed subsidiary Continental Reinsurance Ltd (Kenya) in the year 2012.

East Africa Reinsurance Company was incorporated in 1993 and began operations on 1st January of 1995. The company was formed through a joint initiative of local insurance companies in Kenya and the International Finance Corporation (IFC).

It became the first private reinsurance company to be founded in Kenya. The company currently operates in over 35 countries in Africa, Asia and Middle East. It serves more than 200 insurance companies.


Kenya Reinsurance Corporation Limited is the oldest Reinsurance company established in Eastern and Central Africa. It was established through an Act of Parliament in December 1970 and started business in January 1971. It operates in over 65 countries where it serves more than 265 companies.

The company is listed at the Nairobi Securities Exchange. 

Ghana Reinsurance Company Limited (Ghana Re) commenced operations in 1972 as the Ghana Reinsurance Organization, and was incorporated as a Limited Liability Company on June 16, 1995. 

Ghana Reinsurance Company Kenya office was set up in 2011, and commenced operations in earnest in Underwriting Year 2012. Ghana Re is wholly owned by the Government of Ghana. The company is governed by a Board of Directors appointed by the sole shareholder.

WAICA Reinsurance Corporation Plc is a public limited liability company incorporated under the laws of Sierra Leone on 7th March 2011

The corporation was formed in line with West African Insurance Companies Association (WAICA) need to form a reinsurance pool. The company currently operates in 7 African countries.


These are the two main types of reinsurance contracts:

Facultative reinsurance refers to reinsurance that is transacted on an individual risk basis. The insurance company has the option to offer an individual risk to the reinsurance company who in turn has the right to either accept of reject the risk.

Treaty reinsurance on the other hand entails reinsurance of a particular class of insurance business. This means that the reinsurance company doesn't have an option but to re-insure all business within the terms of the reinsurance contract.

Both facultative and treaty  reinsurance can either be pro rata or excess of loss.

Pro rata reinsurance is commonly referred to as proportional reinsurance. The reinsurance company shares the same proportion of premiums and losses from claims of the insurance company. 

Excess of loss reinsurance is commonly referred to as non-proportional reinsurance. The reinsurance company pays the insurance company losses from claims above a certain amount.