Kenya Reinsurance Corporation (Kenya Re) is taking proactive steps to address the rising concerns over extreme weather risks in East Africa. The state-owned reinsurer is set to map its exposure to floods and earthquakes in the region.
In a recent request for proposals, Kenya Re has invited bids from modeling firms to assist in identifying and assessing catastrophe risks, with a particular emphasis on Kenya.
This initiative highlights the increasing importance of risk management in the insurance sector as climate-related events become more frequent and severe.