Kenya Re-Insurance Tops Biggest Movers at NSE

Kenya Re-Insurance Corporation(KNRE), with a market capitalisation of KSh 14 billion was the busiest counter when trading closed at the Nairobi Securities Exchange (NSE) Wednesday with a volume of 8.75 million shares, followed by KCB (6.28 Million), Scan Group (6.13Million) and Safaricom (3.2 Million)

Kenya Re closed at KSh 2.50, a 2.9% gain over the previous price of KSh 2.43. The counter began 2025 with a share price of KSh 1.28 and has since gained 95.3% on that price valuation, ranking it 8^th on the NSE in terms of year-to-date performance. Shares of Kenya Re (KNRE) have posted a price gain of 14% over the last 4-week period, 15^th best stock on the NSE.

Kenya Re-Insurance Corporation Limited is a reinsurance company underwriting various classes of reinsurance for companies in Africa, the Middle East and Asia. The company covers reinsurance for the short-term and long-term business sectors. Its short-term business division offers motor, marine, aviation, fire and accident reinsurance products. Its long-term business division offers individual and group life reinsurance products.

At the end-year of 31^st December 2024, Kenya Re Net Profit fell to KSh 4.44 billion from KSh 4.97 billion in 2023 while its balance sheet size grew to KSh 66.81 billion (2023: KSh65.98 billion). Shareholders’ Funds hit KSh 49.67 billion in 2024 from KSh 48.17 billion in 2023.

Kenya Re also has interests in property acquisition and management, including office buildings for rent and the development of office properties and housing projects. At the close of Wednesday’s trading session, Flame Tree Group was the top gainer, its share price up 9.16% to close at KSh 1.43. It was followed by NSE which rose 9.13%, Eaagads 8.79% and Sanlam Kenya which was up 8.33%.

The losers were led by Eveready which lost 7.46% to KSh 1.24 followed by East African Portland Cement which was down 7.17% and Olympia Holdings which slid 6.35%. The benchmark NSE All Share Index moved up 1.57 points to 167.75, representing a year-to-date gain of 35.85%.

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