Kenya Reinsurance Corporation to Tackle Cyber Security and Climate Change Insurance Risks
The Kenya Reinsurance Corporation (Kenya Re) will partner with local insurers to create a pool of specialised professionals in new and emerging risk areas like cyber security and climate change.
The capacity building initiative will be rolled out through the recently established Kenya Re Academy and will enrol local professionals in diverse insurance risk areas.
“We are focusing on enhancing industry knowledge and building skill sets in line with the evolving nature of our business,” says the Kenya Re Group Managing Director Dr Hillary Wachinga. He was speaking at an inaugural award ceremony attended by 31 insurance and brokers, hosted by Kenya Re.
The Corporation, he said, had launched the incentive programme to encourage prompt premium payments by the insurers to help the national reinsurer meet its reinsurance obligations and safeguard its profitability.
“By contributing to our profitability, you give us the impetus and the financial resources to invest in research, development, and innovation. You also contribute to the growth of the local insurance and the reinsurance sector and improve the national economy since we retain more premiums locally,” he said.
