Africa Re’s financial rating upgraded to A

Standard and Poor’s Global Ratings (S&P) has raised the global scale long-term issuer credit and insurer financial strength ratings of African Reinsurance Corporation (African Reinsurance Corporation or Corporation) to Full ‘A’ with a ‘Stable’ outlook from ‘A-‘ with ‘Positive’ outlook.

Group Managing Director/CEO, Dr Corneille Karekezi, said, “This achievement places the Corporation among the very few indigenous reinsurance companies to be so rated from the developing and emerging economies of the world.”