AM Best affirms Kenya Re’s ratings

AM Best has affirmed Kenya Re’s Financial Strength Rating of “B” (Fair) and Long-Term Issuer Credit Rating of “bb+” (Fair), with a stable outlook.

The ratings reflect Kenya Re’s strong balance sheet, adequate operating performance, and neutral business profile.

Since implementing corrective measures in 2020, the company’s non-life portfolio has consistently generated technical profits. Its overall results continue to benefit from favorable investment income.