Kenya Re sees 25 pct dive in full-year net earnings

March 19 (Reuters) - Kenya Reinsurance Corp Ltd, which offers re-insurance services to firms across Africa and the Middle East, said on Tuesday it expects its full-year net earnings to plunge more than 25 percent from previous year.

The company, better known as Kenya Re, said the expected drop is mainly due to high claims reserves, forex losses due to currency devaluations in some of its markets, unexpected reduction in income from an associate and impairment of an asset held for sale. (Reporting by Tanishaa Nadkar in Bengaluru, Editing by Sherry Jacob-Phillips)

2019-03-19 08:35:53

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