Nairobi, Aug. 24 -- Kenya Reinsurance Corporation (Kenya Re) posted a 42.8 percent jump in net profit to Sh2.25 billion in the six months to June, lifted by stronger underwriting performance which offset a decline in investment income.

The reinsurer's net earnings rose from Sh1.6 billion recorded in the same period last year as it benefited from growth in insurance revenue and improved risk selection.

Insurance revenue increased by 14 percent to Sh9.4 billion from Sh8.3 billion, reflecting growth in the corporation's business during the period.

The biggest improvement was recorded in the insurance service, a key measure of underwriting performance, which more than quadrupled to Sh1.25 billion from Sh302.98 million a year earlier.

The ...