S&P has confirmed Africa Re’s rating

Standard & Poor’s confirmed last June 22 the “A-“ Financial soundness and the “A-“ credit ratings granted to Africa Re, with both ratings enjoying stable outlooks. The American agency highlighted the reinsurer’s high capitalization level, its steady and satisfactory results along with its 10% market share in Africa. Moreover, Africa Re’s portfolio diversity is improving and risk management system is deemed good. The downside: exposure to non-transferable risks and a volatile political and economic environment. In 2011, Africa Re posted 631 million USD in premiums collection, while profits amounted to 69 million USD. The company’s capital totals 482 million USD for an overall balance sheet of nearly 1 billion USD.