AM Best has revised ZEP Re’s ratings upwards

AM Best has granted ZEP Re a “B+” rating for its financial soundness and a “bbb-“ for its capacity of an individual debt issue with stable outlooks. These ratings reflect a significant improvement of shareholder’s equity and a better equity risk management (ERM). The rating agency has underscored the satisfactory performance of the reinsurer which has an average combined ratio of 89.6% over five years. In 2010, the company reported free–tax profits of 5.2 million USD. The 2011 results are poised to be on the rise.