Background
- The Cannon Group has been operating in the Kenyan financial market for almost 60 years and comprises companies providing insurance and asset management services.
- Cannon General Insurance (K) Limited (“Cannon”) is seeking to appoint a suitably qualified and experienced reinsurance broker to provide reinsurance brokerage and advisory services in support of its treaty renewal programme.
- The appointed broker will be expected to provide professional and strategic reinsurance advisory services, facilitate access to suitable and financially sound reinsurance markets, negotiate competitive and sustainable reinsurance terms, and support Cannon in optimizing its reinsurance programme in line with its business strategy, risk appetite and regulatory requirements.
- Any interested vendor that meets the requirements set out in this RFP is invited to submit a proposal in accordance with the instructions contained herein.
1. Objectives
The objective of this RFP is to appoint a competent and experienced reinsurance broker to
support Cannon in the review, structuring, marketing, negotiation and placement of its
reinsurance treaty programme.
The appointed broker will be expected to:
- Review Cannon’s existing reinsurance programme and provide recommendations for improvement based on the Company’s portfolio, risk profile, business strategy and risk appetite
- Advise on the appropriate structure and mix of reinsurance protection, including proportional and non-proportional arrangements, where applicable.
- Provide access to a broad and reputable panel of local and international reinsurers with appropriate financial strength and capacity.
- Obtain competitive, sustainable and appropriate reinsurance terms and conditions for Cannon.
- Support Cannon in optimizing its reinsurance costs, capacity, retentions and overall risk transfer strategy.
- Provide ongoing technical and strategic advice on reinsurance matters including treaty accounts review and analysis throughout the treaty period and any renewals within the Term.
- Support Cannon in strengthening its reinsurance programme to facilitate sustainable growth while maintaining appropriate protection against catastrophic and large losses.
2. Scope of Work
The appointed reinsurance broker shall provide, but not be limited to, the following services:
2.1 Reinsurance Programme Review
- Review Cannon’s existing treaty programme, including structures, retentions, limits, layers, commissions, rates, reinstatements and other material terms.
- Analyze the performance of the existing reinsurance programme and identify areas requiring improvement.
- Review Cannon’s portfolio composition, historical claims experience, exposure profile and projected business growth.
- Recommend appropriate treaty structures and retention levels based on Cannon’s risk appetite and business strategy.
- Provide benchmarking and market intelligence on prevailing reinsurance structures and terms
2.2 Reinsurance Programme Design and Structuring
- Develop and recommend appropriate reinsurance programme.
- Advice on the appropriate balance between proportional and non-proportional reinsurance arrangements.
- Advise on capacity requirements, retentions, limits, layers and attachment points.
- Identify opportunities for programme optimization, diversification of capacity and improved terms.
- Recommend appropriate reinsurer security standards and panel composition.
2.3 Market Marketing and Placement
- Prepare and distribute comprehensive and accurate renewal submissions to selected reinsurance markets.
- Market Cannon’s treaty programme to suitable and financially sound reinsurers.
- Obtain competitive quotations and alternative structures where appropriate
- Provide a clear comparison of quotations, including pricing, capacity, commissions, terms, conditions, exclusions and other material differences.
- Negotiate with reinsurers on Cannon’s behalf to secure the most appropriate terms.
- Ensure that proposed reinsurers have adequate capacity and appropriate financialstrength.
2.4 Treaty Documentation
- Coordinate the preparation, review and finalization of treaty slips, wordings, endorsements and other relevant documentation.
- Ensure that final treaty documentation accurately reflects agreed terms.
- Identify and highlight any material changes, exclusions or conditions proposed by reinsurers.
- Ensure timely completion and execution of treaty documentation.
2.5 Facultative Reinsurance Support
- Provide technical advice and support on facultative placements where required.
- AAssist Cannon in identifying appropriate facultative markets and obtaining competitive terms.
- Support negotiation and placement of complex, large or specialized risks.
- Provide alternative capacity where existing treaty arrangements are insufficient.
2.6 Claims and Reinsurance Recoveries
- Provide technical support on significant and complex reinsurance claims.
- Assist in the timely notification and presentation of claims to reinsurers.
- Support Cannon in pursuing and monitoring reinsurance recoveries.
- Assist in resolving disputes or queries arising between Cannon and its reinsurers.
2.7 Advisory, Reporting and Market Intelligence
- Provide regular updates on reinsurance market conditions and emerging trends.
- Advise Cannon on developments that may affect the availability, pricing or terms of reinsurance capacity.
- Provide regular reports on the status of treaty negotiations and placements
- Provide a final placement report setting out the agreed programme, reinsurer participation, terms and conditions and any material deviations from the proposed structure.
- Provide ongoing advisory support throughout the treaty year.
2.8 Regulatory and Compliance Support
- Ensure that all reinsurance placements and related activities comply with applicable Kenyan laws, regulations and regulatory requirements.
- Provide guidance on regulatory developments affecting Cannon’s reinsurance arrangements.
- Maintain appropriate documentation and records relating to placements.
2.9 Vendor Requirements
The Vendor must meet the following minimum criteria:
- Be duly incorporated and legally registered to provide reinsurance brokerage services.
- Hold all relevant and valid licences, approvals and regulatory authorizations required to operate as a reinsurance broker in Kenya.
- Demonstrate proven experience in providing reinsurance brokerage and advisory services to general insurance companies of comparable size and complexity.
- Demonstrate experience in designing, marketing and placing treaty reinsurance programmes.
- Demonstrate strong access to reputable local, regional and international reinsurance markets.
- Demonstrate experience in negotiating proportional and non-proportional treaty arrangements and facultative placements.
- Have suitably qualified, experienced and dedicated personnel with demonstrated expertise in reinsurance.
- Demonstrate strong technical capability in reinsurance programme analysis, structuring, pricing and placement.
- Demonstrate capacity to provide ongoing advisory, claims and recovery support throughout the treaty period.
- Demonstrate adequate financial capacity and maintain appropriate professional indemnity insurance.
- Demonstrate sound corporate governance, ethical business practices and appropriate risk management controls.
- Disclose any actual or potential conflicts of interest that may affect the Vendor’s ability to provide independent advice to Cannon.
- Demonstrate flexibility, responsiveness and availability to support Cannon within agreed turnaround times.
- Provide appropriate business continuity arrangements to ensure uninterrupted service delivery.
3. Proposal Requirements
The following information must be included in all proposals:
3.1 Corporate and Regulatory Documentation
- Certificate of incorporation/registration.
- Relevant regulatory licence(s) and authorizations (IRA, ODPC, FRC etc).
- Tax registration and compliance certificates.
- Professional indemnity insurance certificate.
- Any other relevant regulatory or statutory documentation.
3.2 Company Profile
- Background and history of the organisation.
- Ownership structure including ultimate beneficial ownership information.
- Years of experience in reinsurance broking.
- Organisational structure.
- Relevant experience in Kenyan and international markets.
3.3 Relevant Experience and References
Provide details of at least three comparable assignments undertaken within the recent past, including:
- Client name and products covered.
- Scope of services provided.
- Nature and size of the reinsurance programme handled.
- Duration of engagement.
- Contact details of the relevant client reference.
3.4 Technical Proposal and Methodology
The Vendor shall provide a detailed description of its proposed approach to:
- Review of Cannon’s existing reinsurance programme.
- Programme restructuring and optimization.
- Reinsurance market analysis and selection.
- Marketing and negotiation strategy.
- Treaty placement.
- Facultative support.
- Claims and recovery support.
- Ongoing advisory services.
3.5 Proposed Team
Provide details of the proposed team, including:
- Names and positions.
- Qualifications and professional certifications.
- Relevant reinsurance experience.
- Specific role and responsibilities.
- Availability and senior management involvement.
3.6 Market Access and Reinsurance Capacity
The Vendor should demonstrate:
- Access to reputable and financially sound reinsurers.
- Experience securing capacity for similar portfolios.
- Ability to provide alternative markets and structures.
- Approach to assessing reinsurer security and diversification.
3.7 Commercial Proposal
Provide a transparent fee and remuneration structure, clearly setting out:
- Brokerage/commission arrangements.
- Any management, advisory, or other fees.
- Any additional charges that may arise.
- Any other financial arrangements or benefits.
- All costs clearly disclosed (exclusive/inclusive of taxes).
4. Evaluation Criteria
Proposals will be evaluated based on the following criteria:
| Evaluation Criteria | Weight |
| Vendor experience and track record in reinsurance broking | 20% |
| Technical capability and proposed reinsurance strategy | 20% |
| Reinsurance market access and capacity | 20% |
| Commercial proposal and value for money | 15% |
| Experience and qualifications of proposed team | 10% |
| Service delivery, reporting and claims/recovery support | 10% |
| Regulatory, governance and compliance standing | 5% |
| Total | 100% |
Cannon reserves the right to seek clarification from any Vendor during the evaluation process and may invite shortlisted Vendors to make presentations or participate in clarification meetings.
5. Submission Instructions
- Please submit your proposal by 15 September 2026 the following address: dgadmin@cannon.co.ke
- All proposals should be submitted in the format specified in this RFP.
- For any questions or requests for clarification relating to this RFP, please contact: Carolyne Mukami – Carolyne.muriuki@cannon.co.ke
6. Key Deliverables
The appointed Vendor shall be expected to deliver, at a minimum:
- Review and assessment of Cannon’s existing reinsurance programme.
- Recommended reinsurance programme structure.
- Reinsurance market and benchmarking analysis.
- Comprehensive treaty renewal submission.
- Reinsurer quotations and comparative analysis.
- Negotiated and agreed treaty terms and conditions.
- Final treaty slips, wordings, and documentation.
- Final placement report confirming reinsurer participation.
- Ongoing advisory and market intelligence reports.
- Claims and reinsurance recovery support throughout the treaty period.
7. Timelines
- Proposal Submission Deadline: 15 September 2026
- Vendor Selection Announcement: 18 September 2026
8. General Conditions
- Cannon reserves the right to accept or reject any proposal in whole or in part without assigning any reason.
- Cannon reserves the right to request clarification or additional information from Vendors during the evaluation process.
- All information provided by Cannon as part of this RFP shall be treated as confidential and used solely for purposes of preparing the proposal.
- Vendors shall disclose any actual or potential conflict of interest.
- The submission of a proposal shall not constitute a binding contract or guarantee ppointment.
- The successful Vendor shall be required to comply with Cannon’s applicable policies, procedures and contractual requirements