PROFILE
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.
To be the risk partner of choice in our markets.
To provide quality risk solutions, excellent service and enhanced value to all the stakeholders.
Integrity, commitment, partnership, excellence professionalism, innovation.
East Africa Re Location
We are headquartered in an iconic building at 98 Riverside Drive in the tranquil neighborhood of Riverside, Nairobi.
IT Systems
The technical and financial operations of East Africa are “on line “on acquired software systems, and the company is well organised to continue to render efficient services to all its business partners.
Staff Training
The company has is place a comprehensive training policy to ensure are well trained in all areas.
First rate client service
The company has an excellent record of prompt settlement of claims, provision of solutions tailored to the needs of individual and cedants and expertise in the training in reinsurance. The company offers training to cedants and clients on an annual basis.
1st row from Left: M. Kimondo, M. Wanjiru, A. Miyogo, N. Kabera, K. Karungari, N. Mjomba,D. Miano, M. Wairegi, B. Chirchir, L. Njunge, S. Shao, R. Gitonga
2nd row from Left: A. Moseti, R. Kogo, S. Lelei, Z. Jebet, B. Maina, J. Kimondo,V. Maithya, D. Kaniaru, E. Kigen, B. Cheruiyot, P. Maina, D. Kirui, C. Ogaye
2014 Champions of Governance Award
East Africa Re CEO, Peter Maina (2nd right), receives the 2012 Insurance Sector Winner’s Award sponsored by ICPSK.Champions of Governance (COG) Award
The Company was awarded the 1st position in the 2012, 2013,2014 and 2016 Champions of Governance (COG) Awards Insurance Category. The Award was sponsored by the Institute of Certified Public Secretaries of Kenya (ICPSK) jointly with other COG partners, including KASNEB and Insurance Regulatory Authority (IRA).
Financial Reporting Award
In 2012, East Africa Re was awarded the 1st runners-up position in the insurance industry category of the Financial Reporting (FiRe) Award for Excellence, jointly sponsored by the Institute of Certified Public Accountants of Kenya (ICPAK), the Capital Markets Authority (CMA) and the Nairobi Securities Exchange (NSE).
2014 Champions of Governance Award
EARe staff members receiving the 2014 Champions of Governance Award.Community Developement
East Africa Reinsurance Company limited recognises that social and environmental responsibilities are an integral part of its overall business practice and has in place a corporate social responsibility (CSR) charter which guides its CSR activities .The company is committed to ensuring implementation of the social and environmental responsibility aspects that are relevant to its business. In particular, emphasis is placed on involvement in community developmental activities, care for the environment which the company operates and employee welfare.
Eare members of staff during IRA Cerebral Palsy Charity Walk.
EARe making donation to House of Charity
Capacity Building
The company strive to build capacity for sustainable livelihoods and our efforts are about making a difference; providing our staff with the opportunity to make a contribution to the society. Staff are fully engaged in the Company’s projects and we ensure that the one-off projects are sustainable. During the year the company continued to dedicate its resources towards supporting several initiatives in key areas of focus, .i.e. quality education and health, food, shelter and environment.in line with its underlying commitment to creating and sustaining stakeholder value, the Board takes overall responsibility for continued development and implementation of appropriate social and environmental policies for the company.
Support to Society
EARE donating sanitary towels to Lavington Mixed Secondary School, Nairobi. The company continues to be committed corporate citizen. In this regard the company though its staff, continues to support worthwhile community programmes and initiatives, particularly those undertaken by deserving charities in health, social and child welfare sectors. The company also extends assistance towards expansions of facilities in the provision of quality education.
EARE offering support to WAMO Children’s home, Kawangware
General CSR Initiatives
- Sponsorship of education of rehabilitated street and other needy children.
- Provision of education for the girl child.
- Provision of sanitary towels to secondary school girls.
- Sponsorship of need top candidates to join national/county schools in Kenya.
- Activities of secondary and primary schools serving needy.
- Donation of computers to schools aimed at promoting IT skills in secondary schools in Kenya.
- Graduate and undergraduate internship programs within the company.
- Activities organised by professional institutes aimed at promoting professionalism in Kenya.
- Activities organised by associations and organisations in the insurance industry aimed at developing the industry.
- Cancer awareness.
- Polio eradication initiatives.
Eare Staff members presenting a cheque to SCANN Nakuru
Members of EARE plant trees at eare grounds
Protection of Environment
The company is conscious of the need to protect the environment and in this regard, supports efforts to promote its conservation. The Company’s premises are environmental friendly exhibiting nature and the company has continued to preserve trees and other natural vegetation.
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EARe at SCANN in Nakuru
EARe mentorship workshop for teenagers
The Company presents donations to Don Bosco