Ethio Re: AM Best rating

AM Best has assigned a “B” (fair) financial strength rating and a “bb” long-term credit rating to Ethiopian Reinsurance S.C. (Ethio Re). The outlook is stable.

The agency's decision reflects Ethio Re's strong balance sheet, risk-adjusted capitalization and adequate operating performance.

Established in 2016, Ethio Re is a composite reinsurer, operating in Ethiopia and a number of African markets. In 2023, the company achieved a turnover of 35 million USD.