East Africa Reinsurance Company was incorporated in 1993 and commenced 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), the private sector arm of the World Bank.
The main objective for establishing the company was to serve the reinsurance needs of the local insurance market; and with time grow to other regional and international markets. At the time, the local reinsurance market was dominated by the major international reinsurers, with a few national and inter-governmental reinsurers playing a peripheral role. There was also a need to develop local reinsurance capacity to reduce over-dependence on international markets and preserve foreign currency reserves.
East Africa Re was the first private reinsurance company to be established in the entire East and Central Africa region.
East Africa Re (EARe) has an authorized and paid up share capital of KES. 1.3 billion. The shareholders’ funds as at 31 December 2013 was KES. 1.98 billion (2012: KES. 1.68 billion), representing a solvency margin of over 100% while total assets were KES. 5.41 billion (2012: KES. 4.70 billion).
East Africa Re (EARe) is a company that understands the local business and at the same time is international in character with strong rating from Global Credit Rating (GCR) and AM Best. The company transacts all classes of reinsurance business and currently serves over 35 countries in Africa and Asia.
East Africa Reinsurance Company Ltd
EARe House,98 Riverside Drive
P.O. Box 20196, 00200 City Square Nairobi, Kenya
Telephone: (254 20) 4443588, 4455385/6/7/8
(254 20) 2592857, 2693943
Cellphone: (254) 733 623737 , (254) 728 111041
Fax: (254 20) 4455391