Kenya Re has released its financial results for the year ended 31st December 2011 with profits after tax up 24.21%.
The principal activities of the company, that is, underwriting all classes of reinsurance business and investment activities resulted in a profit before tax of KES 2.036 billion, a 22.69 increase from last year’s KES 1.66 billion. The company’s net profit increased by KES 373.19 million (24.21%) to KES 1.914 billion.
The board of directors recommend a first and final dividend payment of 35cents per share, the same as last year’s dividend payout. Moreover, the directors also recommend a bonus share issue of 1 new ordinary share for every 6 ordinary shares held subject to regulator’s and shareholder’s approval at the AGM to be held on the 8th of June 2012