Nairobi, Aug. 2 -- Listed reinsurer Kenya Re is expected to face increased competition in the international market as more countries lock premiums within their borders by increasing mandatory retention rates.

The increased premium retention aimed to help countries curb capital flight while strengthening their domestic reinsurance capacity, has gained popularity across the globe and is being replicated in many countries, including Kenya.

Kenyan insurance companies will be required to compulsorily book 25 percent of their reinsurance premiums with the national reinsurer, Kenya Re, beginning September this year up from 20 percent, following regulatory amendments made last year.

Other countries are also creating their own reinsurance champ...